Copyright 2017 LV Arena Company, LLC
Updated 1 hour, 46 minutes ago
One of the most important contracts in between the Raiders and the Las Vegas Stadium Authority will not be completed until next year, however the hold-up is not anticipated to alter the arena building and construction schedule.
The delay ended up being known on the same day the Clark County Commission unanimously backed the team’s application for a number of zoning authorizations and waivers on the 62-acre stadium site on Russell Road west of Interstate 15.
The approval consists of a condition that the Raiders have a year to fix their substantial parking issue– less than 15 percent of the 16,000 parking spaces needed by county code exist on the site.
A final approval will come at a later date, however today’s vote shows little to concern the Raiders moving on.
While the meeting took place, Las Vegas Arena Authority board Chairman Steve Hill released a memo indicating the advancement arrangement between the Raiders and the authority can not be completed up until February since of a problem in settling the agreement in between the group and its building and construction companies, Mortenson and McCarthy.
Hill previously set an October due date for completing all the arrangements needed for the Raiders to start deal with the arena.
In spite of the absence of a settled development arrangement, Hill stressed that the 30-month construction schedule should remain on track, with Mortenson and McCarthy expected to begin in late November and complete the project by summertime 2020. Any hold-up in the tight building timeline could endanger the group’s capability to play the 2020 season in Las Vegas.
The delay includes a concern with obtaining a last number for the cost of developing the stadium. While the extensively reported figure of $1.9 billion is anticipated to hold approximately, the final quote is needed by law and by Bank of America for its arena financing.
An internal personnel memo to the authority notes that the group will hold duty for whatever occurs in its engineering and building work on the Russell Road arena site prior to the completion of the development contract.
The Arena Authority board next fulfills at 1 p.m. Sept. 14 at the Clark County Federal government Center.