RENO, Nev. (AP) — Nevada Gov. Joe Lombardo signed into law Thursday a $380 million public financing package to help build a Major League Baseball stadium for…
The team said in a statement late Thursday the Nevada governor’s signing of the funding package was “a significant step forward in securing a new home for the Athletics.”
The $380 million in public funding would mainly come from $180 million in transferable tax credits and $120 million in county bonds. Backers have pledged that the creation of a special tax district around the proposed stadium would generate enough money to pay off those bonds and interest. The plan would not directly raise taxes.
Opposition came from both sides of the aisle, especially in northern and rural Nevada several hundreds of miles away from Las Vegas. “Using taxpayer money on pet projects instead of private capital is socialism,” said Republican Sen. Ira Hansen, from neighboring Sparks.
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