The Las Vegas Stadium Authority on Wednesday released a draft of the contract detailing the financial and philanthropic commitments to be made by the Oakland A’s as a part of their sweetheart deal with the state.
The draft community benefits agreement fleshes out some of the expectations established in SB1, the legislation lawmakers passed in June that secured the Major League Baseball team $380 million in public assistance for their proposed $1.5 billion, 30,000-seat, 9-acre domed baseball stadium on the Las Vegas Strip. Requirements in the draft CBA include things like meeting quotas for the hiring of minority and women workers, hosting at least 17 different appreciation nights or awareness days, and investing in youth baseball and local nonprofits.
The A’s will be required to make an annual commitment of $500,000 during the construction phase, starting the year county bonds are issued. Once the stadium opens, the A’s will be required to contribute annually $2 million or 1% of their ticket revenue, whichever is higher. Those amounts, which can be cash or in-kind donations, were set in statute by lawmakers.
Las Vegas Convention and Visitors Authority CEO Steve Hill, who chairs the Las Vegas Stadium Authority, noted the 2016 legislation for what would become Allegiant Stadium required the Raiders establish a community benefits agreement but did not specify what was included within it. SB1 for the A’s put in statute specific requirements.
Lawmakers and the A’s during the eight-day special session in June agreed on a four-page “term sheet” that detailed some philanthropic focus areas and requirements. That codified commitment was needed to swing votes in the A’s favor.
SB1 ultimately passed the Senate 13-8 and the Assembly 25-15.
The 16-page CBA draft, as well as an 80-page lease agreement draft, was released to Stadium Authority members and the public Wednesday. Authority staff noted both documents are still…
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