I feel this deserves a seperate thread. Now we know the details. SA is giving $650 mill of his personal $$$$ with no strings attached to the public for the new Las Vegas Dome. Wow! Then the Raiders contribute another $500 mill. The bottem line is the public is given $1.15 billion twoards the financing of a brand new state of the art Dome Stadium that will be located on the Las Vegas strip and the public only has to come up with $750 mill or 39% of the total project cost and will retain COMPLETE OWNERSHIP. On top of it, the NFL Raiders will be the anchor tenant! Also, the public contribution is fixed at $750 mill and SA will pay for any cost over runs.
For any one looking at studies of public financing of Stadiums, are there any comparable public/private financing partnerships where the private sector donated 61% of the construction cost or $1.15 billion and the public retained complete ownership? I could be wrong, but I think this is unprecedented. Also, how could there be any rational opposition. Opinions?
For any one looking at studies of public financing of Stadiums, are there any comparable public/private financing partnerships where the private sector donated 61% of the construction cost or $1.15 billion and the public retained complete ownership? I could be wrong, but I think this is unprecedented. Also, how could there be any rational opposition. Opinions?
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