(03-06-2017 10:07 PM)Transic_nyc Wrote:  County commissioner: Bank of America will fill stadium funding hole

Quote:Bank of America will provide the Las Vegas football stadium project the final leg of financing for the $1.9 billion proposal, Clark County Commission Chairman Steve Sisolak posted on Twitter this afternoon.

In January, Las Vegas Sands CEO Sheldon Adelson withdrew his $650 million pledge to the project because of his discomfort with the lease agreement with the stadium’s proposed primary tenants, the Oakland Raiders. That temporarily put the prospects of the Raiders relocating here in jeopardy.

It wasn’t immediately known how much Bank of America would put up. The initial plan called for the state to provide $750 million from an increase in the hotel room tax and for the Raiders to provide $500 million.

“An @NFL source has confirmed to me this afternoon that @BankofAmerica will provide the necessary financing for the proposed stadium,” Sisolak posted on Twitter.

In an email to the Sun, Bank of America officials declined to comment. The Las Vegas Stadium Authority meets at 1 p.m. Thursday.

Steve Hill, chairman of the Las Vegas Stadium Authority, confirmed Bank of America's involvement and said it would be enough to push the project forward.

“I don’t know what the exact terms are and their commitment to the Raiders, but my understanding is it’s enough to allow the stadium to be financed fully," Hill said.

https://m.lasvegassun.com/news/2017/mar/...fill-stad/

I had kind of forgot about this...last I heard around a month ago was that Adelson was backing out. Then I heard that Oakland was pulling money out of the sky to keep them there. Thanks for bumping.
Cheers!