CARSON CITY, Nev. — The Nevada Senate adjourned Thursday without voting on a financing bill for a proposed $1.5 billion Las Vegas Strip stadium for the Oakland Athletics, extending the special legislative session into the next week amid negotiations over whether to contribute $380 million in public funding to the project.
The measure can still be amended by lawmakers, and if it passes the Senate it would still need approval from the Assembly before going to the desk of Republican Gov. Joe Lombardo, who has expressed support for it. Both the state Senate and Assembly are adjourned until Monday.
In a hearing that began Wednesday and stretched into the early morning hours Thursday, lawmakers questioned tourism officials and a representative from a firm partnering with the ball about the feasibility and benefits of financing such a deal.
The A’s reached an agreement with Bally’s and Gaming & Leisure Properties on May 15 to build a potential 30,000 seat stadium on the 35-acre Tropicana hotel site along the Las Vegas Strip.
Public funds for the stadium would mainly come from $180 million in transferable tax credits and $120 million in county bonds. Backers have pledged that the creation of a special tax district around the proposed stadium would generate enough money to pay off those bonds and interest. The plan would not directly raise taxes.
The A’s would not owe property taxes for the publicly owned stadium. Clark County, which includes Las Vegas, would also contribute $25 million in credit toward infrastructure costs.
A’s representatives and some tourism officials say a deal would further grow Las Vegas’ developing sports scene and act as an economic engine, but a growing chorus of economists and some lawmakers warn that the project would bring minimal benefits for the hefty public price tag.