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Thursday, September 08, 2016

SNTIC: Clark County On Hook For $750 Mil Oakland Raiders Las Vegas NFL Stadium

SNTIC: Clark County On Hook For $750 Mil Oakland Raiders Las Vegas NFL Stadium - Video

SNTIC: Clark County On Hook For $750 Mil Oakland Raiders Las Vegas NFL Stadium The Southern Nevada Tourism and Infrastructure Committee (SNTIC) got its first taste of fiscal reality in today's meeting. Clark County Commissioner Steve Sisolak was asking pointed questions about the debt coverage ratio that I drew attention to. The consultants seem to insist on the 1.5 ratio and not the industry standard of 2. While Sisolak asked for the representatives of Las Vegas Sands and the Oakland Raiders and Majestic Realty to promise that the taxpayers would not wind up holding the bag, the fact is that makes no difference because it's not in writing in the stadium financing agreement draft. There is still a long way to go and the SNTIC has not made significant progress. That is because of the complexity of what they are tasked with doing, coupled with the impossibly right time frame. Stay tuned.
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