Nevada state lawmakers introduced a bill on Friday to fund the Oakland Athletics proposed stadium in Las Vegas. Photo by Oakland Athletics
May 27 (UPI) -- Nevade state lawmakers have introduced legislation to fund a portion of the potential new MLB stadium for the Oakland Athletics.
The bill, which was introduced on Friday, includes $380 million of public funding for the A's proposed $1.5 billion stadium. Nevada Gov. Joe Lombardo has already announced a 30,000-seat, publicly-owned ballpark in Las Vegas.
The Las Vegas Review Journal reported that stadium is set to be situated on 9 acres of land on the southeast corner of the 35-acre Tropicana Las Vegas site.
"From the minute we stepped onto the Tropicana site nearly two years ago, it was immediately obvious what a fantastic fit it would be for a new A's ballpark in Las Vegas," Brad Schrock, the A's director of design and owner of Schrock KC Architecture, said in a statement.
As part of the legislation, Nevada would contribute $180 million in transferable tax credits, with half of that amount being repaid by tax revenue from the stadium.
Clark County, where Las Vegas is located, would fund $145 million of the project. Of that total, $120 million would be generated by a special tax district encompassing the stadium.
The stadium site would also be exempt from property taxes for 30 years.
Major League Baseball still has to approve the move but Commissioner Rob Manfred has already said the league would waive any relocation fee if the A's finalized a stadium plan in Las Vegas.
"We look forward to continuing our collaboration with the Nevada governor, legislative leaders, Clark County commissioners and the Southern Nevada communities as we move forward with plans on our new home," said A's President Dave Kaval, according to the Las Vegas Review Journal.