Stadium Authority Meets Today, Considers Raiders Lease Agreement
LAS VEGAS (AP) — The entity overseeing a proposed Las Vegas NFL stadium is set to meet for the first time since league owners approved the relocation of the Oakland Raiders to the nation's gambling mecca.
Las Vegas Stadium Authority board members on Thursday are expected to discuss progress on a stadium development agreement and a lease agreement for the $1.9 billion project. Both documents must be finalized before construction could begin.
The Raiders' relocation was approved last month. The team is already allowing fans to place refundable $100 deposits to secure personal seat licenses even though a site has not been picked for the 65,000-seat domed stadium.
A draft of the lease agreement that the Raiders presented to the stadium authority board in January called for a $1 annual rent for the team.