Oakland Raiders Las Vegas NFL Stadium Deadline Questions Answered

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• published: 11 Aug 2017
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Everyone has asked me what is the final date the Oakland Raiders have to “get something done” in the way of building a stadium on the Russell Road and Interstate 15 Property purchased with the intent of building a new NFL stadium in “Las Vegas”. Well, there are two basic deadlines: one to finish all agreements, in which case the University of Nevada Las Vegas can take over, and the one that has to be met if the stadium is to be opened by the 2020 NFL Season. At first, I was under the impression that the end date was April of 2018, and that was based on my understanding of the law as it was first proposed: that the Nevada Legislature's action in approving the Southern Nevada Tourism and Improvements Act (SNTIA) on October 17th, 2016 set off the clock count-down, but that's not exactly true; it's the date that the Clark County, Nevada Commissioners approved the hotel tax increase ordinance, that set off the clock count-down. That date was November 17th, 2016; given that the ordinance has only the October 17th, 2016 date on it and not the date the Clark County Board Of Commissioners met, it's easy to get confused. The SNTIA reads as follows: Sec. 37. 1. The Board of Directors shall dissolve the Stadium Authority and wind up its affairs if the Board makes any of the following determinations: (c) Within 18 months after the adoption of the ordinance imposing the tax required by subsection 1 of section 33 of this act, the Stadium Authority has not approved and entered into a development agreement pursuant to subsection 2 of section 29 of this act. (d) Within 18 months after the adoption of an ordinance imposing the tax required by subsec tion 1 of section 33 of this act, the Stadium Authority has not approved and entered into a lease agreement pursuant to subsection 3 of section 29 of this act. (e) Within 18 months after the adoption of an ordinance imposing the tax required by subsec tion 1 of section 33 of this act, the Stadium Authority has not approved and entered into a combined development and lease agreement pursuant to subsection 4 of section 29 of this act. So read that carefully and we see that the basis for estimating the 'drop-dead' date is, indeed, the November 17th 2016 date that the Clark County, Nevada Board Of Commissioners adopted the ordinance establishing the stadium hotel tax increase. From that, according to the SNTIA, the NFL and the Raiders have to have the development agreement done, be it by itself, or as part of the overall lease agreement. The lease agreement isn't just the one document that was approved by the Las Vegas Stadium Authority and then by the NFL on May 23rd of 2017 – it's the 12 other agreements that have to be given the signature and thumbs up on by the Las Vegas Stadum Authority, too. That includes the University of Nevada Las Vegas / Oakland Raiders Joint Use Agreement, as well as the Stadium Financing Agreement. Oh, and the Development Agreement itself. The deadline for these agreements to be done and so the Las Vegas Stadium Authority can wind up its responsibilities is 5-16-2018, or Wednesday, May 16, 2018, according to the SNTIA. But the Oakland Raiders have a more immediate deadline for the completion of documents: October of 2017 – this year. That's the deadline according to Oakland Raiders President Marc Badain and Las Vegas Stadium Authority President Steven Hill, where all agreements, including the development agreement, have to be finished if the desired year 2020 NFL Season completion date is to be realized. And on Tuesday, the Raiders were thrown what could turn out to be a giant tree branch in the road to that deadline: the Paradise, Nevada Town Advisory Board voted 4-1 to approve the Raiders stadium plan, but Clark County planning staff came with a set of added requests for the Clark County Board to make the Raiders pay for off-site infrastructure development costs, and that 14,000 parking spaces be ready within one year of the opening of the stadium, and that there be a “deconstruction” process if the NFL team pulls out of Las Vegas. One in particular, calling for the Oakland Raiders to pay for off-site infrastructure development costs will add a large, unplanned for, cost to the NFL Las Vegas Stadium. That's because the SNTIA calls for the “developer”, which is the Raiders, to pay for off-site transportation infrastructure costs, but not non-transportation infrastructure costs. The Nevada Department of Transportation estimated the total cost of off-site transportation infrastructure improvements at almost $900 million. more ... PLEASE INVEST IN ZENNIE62MEDIA VIA PAYPALHERE: https://www.paypal.me/zennie62