October 25, 2014
LAS VEGAS (AP) - Clark County lawmakers have given conditional approval for transferring 60 acres to the University of Nevada, Las Vegas, for an $800 million domed football stadium.
County spokesman Erik Pappa said Tuesday that commissioners unanimously approved giving UNLV and developer Majestic Realty Co., up to two years to work out a deal to transfer some of the 150 acres needed for the development.
The project is a joint venture of UNLV and Majestic Realty, the owner of the Silverton casino in Las Vegas and the developer behind Staples Center in Los Angeles.
The county deal depends on UNLV obtaining funding and gaining approval from the Nevada university system board of regents.
The developers plan to ask the state Legislature next year to approve a tax-increment financing plan for the project.