LAS VEGAS (AP) – Clark County commissioners are expected to vote early next month whether to give a half million-dollar loan to the entity that oversees a proposed Las Vegas NFL stadium project.
Commissioners voted 6-1 on Tuesday to draft a short-term loan agreement that will be up for approval at their next meeting.
The stadium authority will be funded by a Las Vegas-area hotel tax increase that’s expected to yield $13 million a year, but casinos won’t start collecting that until March 1 and money won’t flow to the authority until April.
The loan is expected to pay for administrators and specialized lawyers who will draft an agreement between developers and the stadium authority.
The agreement is part of the application seeking NFL approval to move the Raiders from Oakland to Las Vegas.
