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Vegas Stadium Plan Approved by Senate

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In a 16-to-5 vote, the Nevada state Senate on Tuesday voted to approve a plan to use $750 million in public funds to build a new stadium for the Oakland Raiders in Las Vegas.

"I personally believe that if we lose this opportunity, it will be one of the most heart-breaking mistakes we've could have ever made", Steve Wynn of Wynn Resorts told the Nevada Legislature. "My friend Jerry Jones and Robert Kraft and others with whom I have a personal relationship have told me the National Football League is ready to do it if Nevada steps up in Las Vegas with a stadium".

"We've been offered a gift here", she said. "In fact, the exact opposite is true", he said. "We don't know which roads we're going to have to rebuild, or if we're going to have to build new roads".

The proclamation says "The continued safety of residents and visitors is a top priority for this state and integral to our economic growth" and "an extraordinary occasion exists that requires immediate action by the Nevada state Legislature". Adelson has pledged $650 million; the Raiders have committed $500 million.

Legislative leaders say there's still work to do to round up the votes needed to approve the deal.

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Four lawmakers said in speeches they were influenced by the testimony of one man who described living out of his truck and taking showers at the gym before a construction job gave him a hand up. "I can take it", said Democratic Sen. Ruben Kihuen, a vocal opponent of the financing plan who is also running in an competitive race for a U.S. House seat. "And keeping the team in Oakland where they were born and raised has immeasurable value to the fans, the team, the league and the city".

The legislation moves one step closer to being passing, with the Assembly needing two-thirds vote to pass.

As proposed, the existing 12 percent room tax rate would be increased 0.88 of a percentage point for the stadium and 0.5 of a percentage point for convention center improvements.

The room tax increase would finance $750 million in general obligation bonds over 33 years. They would pay about $1.50 more per night on the average nightly Strip hotel bill if both proposals pass.

"Like so numerous team's diehard fans, I believe the Raiders and Oakland have a shared identity and destiny, and keeping the team in Oakland where they were born and raised has immeasurable value to the fans, the team, the league and the city", she said in a statement.

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