Stadium News
- Thread starter mvvsmith
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Can only go so wide brother. Cost them a.fortune for right of way on the Project Neon project and they started.buying years ago. I watched I-15 being bulit and thought it was never.going to be used much. Way silly me.
Thinking are heating up.
https://www.reviewjournal.com/busin...ame-general-contractor-for-las-vegas-stadium/
https://www.reviewjournal.com/busin...ame-general-contractor-for-las-vegas-stadium/
Lots of info today. Lack of parking. New lease deadlne. Another meeting next week. UNLV protections. I post as it is printed.
http://www.cbssports.com/nfl/news/t...hat-raiders-vegas-move-is-delayed-until-2021/
I hope they don't rush the details to get this done at the next meeting.
I hope they don't rush the details to get this done at the next meeting.
Latest from Scott Winter, who seems most dialed in, follow him.@Scott_WinterNFL.
http://lastwordonprofootball.com/2017/05/15/las-vegas-stadium-lease-down-to-the-wire/
http://lastwordonprofootball.com/2017/05/15/las-vegas-stadium-lease-down-to-the-wire/
Move is being accelerated by the earlier lease agreement date.
Notice the Raides capital improvement number. Authority 5 mllion, Raiders 2.5 million. 7.5 million is by the largest cap improvement fund in tje NFL. The stadium will always be up to date. Cool.
They are really spendimg time om the UNLV portion of the lease, IMHO and a little birdie's, a very special partnership will be the result. Unique
Ok that's done. Onwards
https://m.lasvegassun.com/news/2017/may/16/stadium-lease-talks-done-in-time-for-raiders-2020/
https://m.lasvegassun.com/news/2017/may/16/stadium-lease-talks-done-in-time-for-raiders-2020/
UNLV sub lease is not complete as of the Thurs. Meeting. The clause in the lease agreement stipulates the sub lease has to abide by the Act assed by the Legislature. Don't read anything sinister into the absence of the sublease or the community benefits agreement. They are not needed for today's vote and are guaranteed by law. Great events clause and Stadco also covers any operating losses. In lieu of rent Stadco pays 1 billion plus upfront for stadium construction and 2.5 million a year to the capital improvement fund. I will update as the day progresses.
I didn't see any mention of UNLV's use of the facility. Any updates on that front?
Lease approval is contingent on the UNLV Joint User Agreement and The Community Benefits Agreement among other Docs. The Lease Agreement approval today was to make the May 23rd NFL meeting for approval and to keep the 2020 timeline. UNLV Joint Use Agreement is still being worked on. Download the lease agreement on the Stadium Authority site. Ibve read it 3 times today. News stories coming.
Love all the positive and optimistic reports!
Owners approved the lease today. Onward.
On breaking ground the reports on national media seem to state by January but there was a local interview with the head of the Labor Union who felt optimistic, should things go well they could break as early as October/November.
The difficulties will come down to how quickly the engineers can complete and submit the traffic and drainage studies Must be approved before the submittal of the site civil improvement plans) as well as how difficult the task will be in regards to the design of the wet and dry utilities and if there will be any problems regarding the relocation and connection to existing sewer and water. They will also have requirements in regards to the dedication of right-of-way as needed for access roads, driveways, turning lanes, etc.. The civil plans will require approvals prior to the ability to get approval of the Architectural, MP&E, structural,etc. There will also be concerns in regards to the existing capacity of the NV energy, Centurylink, Cable, etc. which will require design coordination with those companies. Typically a project of this size takes 8-12 months or longer to get approvals, but approvals can be quicker paying expedite fees (which are very minimal for a project of this size), and with the fact that this will be considered a high priority project with those in charge of the project reviews.
From a paperwork standpoint, ASAP on the FAA submittal. The Development Agreement negotiations start now. Finish the UNLV User Agreement (no hurry) and the Community Benefits Agreement (again no hurry). Mortenson and McCarthy are the Generals. Design is done as stated by the Raiders, basically the Carson design tweaked for Vegas and the Russell Road site.
A New Yorker with an axe to grind? The Noll quotes were from an article last year.
Look, yeah there is no rent per se. There is a 2 million dollar yearly contribution to a capital improvement fund (4.5 from the SA) that they didn't have to make. Davis and BOA are making a 1.15 billion+ up front all in one lease payment so to speak. Davis buys the land, gives it to the SA. The stadium also belongs to SA. Yes, Davis gets the revenue stream (state gets all the sales tax of course and that means on everything from increased room nights, the stadium, retail, dining, on any money spent by anybody attending any event in that stadium.) but he also owms all the overhead. Any operating expenses and LOSSES are his and his alone.
The Deadspin article lumps Vegas in with any other stadium city and does Noll. Anybody who knows Las Vegas knows you can't do that, the reason. Intangibles. Las Vegas needed a domed stadium, a huge event venue. We have been losing out to Phoenix and LA for years ln concerts and major events. Ok, the state approved 750 million for the stadium. Deadspin doesn't menrion in the same bill the state approved 1.4 billion for Phase 1 of the LVCC expansion. Why all this money? Simple, convention attendees, event attendees, tourists. Money spenders plain and simple. The town had to take the next step or stagnate. No other city in the world has 150,000 rooms to fill, the retail, the dining and the gaming that LV possesses. Economics 101 is driving the stadium and the expansion. The allure of Vegas is the greatest intangible and has not been taken into account by detractors. 47 million people visited Vegas last year, just through the airport. A new record will be set this year. Could we be on the hook for the 750 million for the stadium or 1.4 billion (eventually 2.5 billion) for the expansion if the economy takes another turn, sure. But LV is nothing if not a gambling town, it needed to take a gamble, not on football, on economic survival and growth. Most see it as a football stadium. I see it as the most sucessful event center ever to be built and along with the LVCC expansion it is the next step in the evolution of Las Vegas
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I agree~ that Deadspin article was part garbage, part wishful thinking and part credible analysis. Look, we get that it is a calculated risk. Sure, the economy may crater at some point in the near future, but this town has proven resilience. It just shows how statistical wonks think. Do they take into consideration the what a Superbowl will bring to this town? If they do, I'll bet they use data from the games in Jacksonville or Indianapolis, while rational people spit coffee out our noses. The economic impact hill affect not just the tourist corridor, but the valley as a whole, and that's what they fail to recognize.
Well said @MMVSmith . Where I live in Virginia (VA Beach/Norfolk Area), there are 7 cities. All compete against each other. All doing their "own thing". All want the big slice of the pie. But they don't work together. Things that can bring tourism (to the beach, Williamsburg/Historic Triangle!) get voted down by locals who want to keep the status quo. As such, nothing gets done. This area seems about 10 years behind other markets I visit in terms of modernization, chains (retail, dinning, etc), transportation (which is horrendous here).
Happy to see Vegas taking risks to see that it survives into the future. Gambling can't do it alone w/ local joints popping up all over the nation. Raiders is a gamble, but it can pay off, big time. Or not lol. But as you said, if you don't do something you will get left behind. Vegas can bring the full vacation package. And who knows, now that 1 pro team is coming to Vegas, it could open the doors for others. MLS? NBA? Will see. I would love to see an MLS team playing in the LV Stadium. Give another tenant from March-October. Granted it might get a bit crowded September-October, but isn't that a good problem to have?
Happy to see Vegas taking risks to see that it survives into the future. Gambling can't do it alone w/ local joints popping up all over the nation. Raiders is a gamble, but it can pay off, big time. Or not lol. But as you said, if you don't do something you will get left behind. Vegas can bring the full vacation package. And who knows, now that 1 pro team is coming to Vegas, it could open the doors for others. MLS? NBA? Will see. I would love to see an MLS team playing in the LV Stadium. Give another tenant from March-October. Granted it might get a bit crowded September-October, but isn't that a good problem to have?
The UNLV User Agreement will be discussed in the upcoming SA meeting.
https://www.reviewjournal.com/busin...ing-low-profile-on-las-vegas-stadium-project/
https://www.reviewjournal.com/busin...ing-low-profile-on-las-vegas-stadium-project/
Traffic study was a first draft type of thing. I didn't pay it much attention. Scott Winter and others say ingress/egress are uppermost in Mark's mind. Tailgating is as well. They are looking at neighboring property, parking structures and park and ride solutions. Knee jerk reactions to first draft type studies are annoying, waiting until proposals are fleshed out would solve most "bad" press issues. I read where the general contractors (Mortenson and McCarthy) plus designer Manica have agreed to NDA's. Makes sense to me.
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Light Rail...... Ditch the actual rails. I've started thinking about this after the UNLV trip to Canada whenever that was. Ottawa had dedicated bus lanes down the middle of the freeway with on/off terminals in the medium. Which saves money and you can move the route far easier if ever need to. Blast that down the middle of LV BLVD, and have a 100% glass ceiling side walls for viewing all the bling. Doesn't just move you, you can view the strip.
The article is really a waste of time since you really can't give an accurate construction cost bid until you have plans that are in a nearly approved state at which time you would then send the plans out for construction bids from all of the subs, etc...
First things first the FAA:
https://www.reviewjournal.com/busin...adium-that-could-rise-225-feet-faa-docs-show/
https://www.reviewjournal.com/busin...adium-that-could-rise-225-feet-faa-docs-show/
It really shouldn't be any big deal since the Mandalay Bay is located between the Airport and the proposed site. The Mandalay Bay is a 43 story hotel tower which is significantly higher than the proposed 225 foot height of the stadium over existing grade.
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