The Las Vegas Stadium Authority Board will be in session again this Thursday. Here’s some key agenda items you should know.
It’s the middle of the month which means the Las Vegas Stadium Authority will again meet to discuss the planning and construction of the Raiders new stadium just east of the Las Vegas Strip.
The meeting’s big point of interest is the discussion of an extension of time to write the development agreement between the team and the LVSA. Initially voted and agreed upon to be 12 months, the board will seek to increase that period to 18 months. Despite this extension, there will not be a delay in the construction timeline as a result. In addition, the Raiders will bear all the costs of the preliminary site work until that development plan is solidified.
Before fans in Oakland get excited thinking this spells trouble for the Raiders new marriage with Las Vegas – think again. When the Nevada Legislature Special Session to fund the project, the legislature built in the ability of the board and the team to extend the time by six months and that’s what’s happening here. Originally slated to be done by next month, the new proposal extends the negotiating period until February 2018.
The resolution will be introduced Thursday but will not actually be voted on until October 12th Authority meeting. That coincides with the expiration of the original Memorandum of Understanding.
- No UNLV Deal: Despite this site initially hearing a UNLV lease deal was imminent, our sources told us last week that that was no longer the case. UNLV is not on the agenda and sources tell us the sides are not yet close on a deal for the university’s lease. The UNLV lease is a big deal for state lawmakers who insisted it be a priority as part of the agreement to fund the $750 Million public portion of the $1.9 Billion project.
- Construction Timeline Update: Bulldozers, graders, and other equipment will soon be active on the site as Mortenson Construction of Minneapolis and McCarthy Building Co. of Henderson, will start clearing the site in November finishing in early December. Then the hard work begins in December. To build the stadium, they must dig an inner bowl that is 20 feet deep. No easy task in Southern Nevada’s hard and caliche-ladened soil. No real signs of a stadium structure will be visible until mid-to-late 2018 when concrete and steel will start being worked on.
- Raiders in the Community: One of the hot button issues in many of Las Vegas’ minority communities and small business communities has been the Raiders promise to work with these constituents to be a part of stadium construction and operations after opening. While organizations like the Latin Chamber of Commerce, and several trade unions have been publicly supportive, others are looking for more details and specifics around this plan. The plan will spell out how subcontractors, vendors, and other businesses will be awarded work on the Raiders various projects including the stadium.
Stay tuned on Friday as we’ll do a summary video highlighting the outcome of this week’s meeting right here on Las Vegas Raiders Report.