The Las Vegas Sands and Majestic Realty Oakland / Las Vegas Raiders Stadium Economic and Fiscal Impact document that is part of the information for the May 26th Southern Nevada Tourism and Infrastructure Commission was written to fool public officials.
It promises tax revenue by the millions but then one small report section near the end of it calls for a tax increment revenue district.
That area will collect all tax revenue and give it to the proposed stadium authority that is ran by the developer – in this proposal.
So the City of Las Vegas and Clark County will not get tax revenue from the project if they go along with the tax increment revenue financing proposal.
Oh and that is on top of the other $750 million the Las Vegas Sands and Majestic people want from an increase in the hotel tax.