Oakland A's Las Vegas SB509 Bill Public Hearing Livestream On Zennie62 YouTube - ATLNews

Oakland A's Las Vegas SB509 Bill Public Hearing Livestream On Zennie62 YouTube The livestream of the public hearing on the Oakland A's Las Vegas Ballpark legislation called SB509, Southern Nevada Tourism and Innovation Hearing is to start at 7 PM EST. Here is a breakdown of the main points of the legislation: 1. Special Zone Formed: sports and entertainment improvement district, ran by Las Vegas Stadium Authority. 2. Oakland A's pay or cause to be paid monies from taxes from “tangible personal property sold at retail, or stored, used or otherwise consumed, in the sports and entertainment improvement district during a fiscal year,” and monies from business taxes, event charges, and other fees. But the A's don't pay a property tax or possessory interest tax the way the bill is written. 3. Bond issue of $120 million results in annual debt service of $6,524,560 over 30 years or total of $202.6 million bond cost at 3.5 percent. 4. Oakland A's could levy a $7 ticket surcharge and raise $17,010,000 annually from 30,000 seats. That's 2.6 times the annual debt service of $6,524,560, and beyond the 2-to-1 debt coverage ratio. 5. The tax credit of $180 million is a risk to the A's not the County. Stay tuned for more.
via YouTube https://www.youtube.com/watch?v=BsUD6zp-dOg