Las Vegas Stadium Authority Board members "unanimously approved amendments" to the authority's PSL agreement with the Raiders and a "modification to the stadium construction budget clarifying that an additional $40 million is being dedicated to the team's premium seating and marketing plan," according to Richard Velotta of the LAS VEGAS REVIEW-JOURNAL. LVSA Chair Steve Hill and the board approved a $546.3M budget for FY '18-19 and a "collection of amended agreements designed to better account for funding" of the Raiders' $1.8B, 65,000-seat indoor stadium under construction. Of the total budget, only about $2M is "devoted to authority operations." The rest "would be used to pay debt service, handle potential tax revenue declines, fund future capital projects and offset lost revenue to UNLV from Sam Boyd Stadium." The cost of the stadium "won't change -- just the accounting." So far, the Raiders have spent $172.4M, 19% of the team's commitment, "on the stadium project." An exec with the Raiders' stadium construction subsidiary said that the stadium project is "on schedule and on budget.". More than 11% of the project's "concrete has been poured." An estimated $40M was "spent on the stadium in April." When the level of construction "hits its peak," $90M a month "will be spent" (LAS VEGAS REVIEW-JOURNAL, 5/24).
