102°F
weather icon Clear

EDITORIAL: If taxpayers cover stadium costs, they must get a stake

The first meeting of UNLV’s stadium authority board left no doubt that, less than one year from now, the panel would recommend building a new venue for sports, concerts and special events capable of drawing tens of thousands of fans.

The question is whether the board can put together a plan capable of winning the support of the Legislature and the public.

The authority board emerged from the ashes of UNLV’s previous stadium proposal, a $900 million public-private partnership with Majestic Reality that was torched by the gaming industry. Instead of enabling the construction of an on-campus stadium, this year the Legislature created a stadium district and a board to determine the project’s scope and cost, and to recommend funding options.

It’s no coincidence that the 11-member panel includes six current or former gaming executives. The surest way for a project to win gaming’s endorsement is to give the industry a powerful voice in shaping the plan.

Casino companies certainly would benefit from having a modern stadium in close proximity to the Strip. UNLV’s off-campus Sam Boyd Stadium is hopelessly outdated and inconveniently located, offering limited appeal for big concerts and special events. An on-campus stadium just a couple of miles from megaresorts would allow entertainment promoters to create new events or grow existing ones, attract more visitors and generate job-creating economic activity.

The benefits to the university would be tremendous. A stadium would attract huge numbers of visitors to the campus year-round, elevating the profile of the institution. It would spur investment around the entire university area. UNLV’s football program certainly would benefit, but the Rebels’ home games would be a tiny part of the stadium’s events schedule.

Monday’s board meeting at the Thomas &Mack Center showed clear support for a stadium. So who pays for it, and who gets a stake in the project? What role will gaming companies have in funding it? This project won’t move forward without a private funding component. On Wednesday, UNLV announced a $500 million capital campaign to help fund the stadium and a medical school. It’s a good start.

If the board recommends taxing local residents and visitors to pay some of the project’s cost, voters will be skeptical to say the least — and they won’t be afraid to let lawmakers know their opposition. The only way the public might be persuaded to support higher taxes for a stadium is to give them a stake. A share of stadium revenues must stay on campus, whether it’s for scholarships, facility funding or athletic operations.

If the public pays, the public should own it.

Don't miss the big stories. Like us on Facebook.
THE LATEST
LETTER: No conspiracy involving Hunter’s laptop

The R-J should acknowledge that Mr. Trump’s lies, frauds, defamations, criminal indictments and convictions are exponentially worse than Hunter’s laptop being evidence or any of the other alleged Biden missteps.

LETTER: Trump tries to win Nevada

Mr. Trump advocating for tax-free tip income is definitely one approach to winning Nevada. But my tip to Mr. Trump is to pick Marco Rubio and show the diversity of the GOP.

EDITORIAL: Accountability thy name isn’t Biden

One of the enduring characteristics of President Joe Biden is his repeated attempts to blame imaginary gremlins for problems he himself has helped create.

NEVADA VIEWS: Strengthening democracy

In a democracy, the legitimacy of our government derives from the consent of the governed. When citizens lose faith in the electoral system, the very foundation of our republic is compromised.

COMMENTARY: The folly of ‘industrial policy’

Perhaps these leaders would be more hesitant if “industrial policy” were called “socialism.” In many ways, the description fits.

COMMENTARY: Joe Biden is the much better dictator

I’m really sorry, Democrats, there’s no vaccine for your Trump Derangement Syndrome. But as far as I can tell, thanks to your “Big Guy” Joe Biden and his caretakers, our democracy is pretty well on its way down the drain already.