Construction of the Henderson, Nev., arena for the Golden Knights' AHL franchise will cost $80M, with $4M "set aside for contingencies," according to Blake Apgar of the LAS VEGAS REVIEW-JOURNAL. The total cost "would be evenly split" between the the Golden Knights and the city. It is the "first time the city has publicly released the estimated cost of the arena." The Henderson City Council is "slated to consider arena-related agenda items at its Tuesday meeting." The 6,000-seat arena "would replace the Henderson Pavilion at Green Valley and Paseo Verde parkways." Apgar notes $25M of Henderson's contribution "will come from bonds that were authorized in April." Another $16M "will come from money set aside for a redevelopment area," while an additional $1M "would come from insurance proceeds." The initial lease term for the arena "would be 20 years, with annual rent for the team set at $150,000." Rent will be subject to a 2% annual increase. The lease "bars the team from moving from the arena until June 2027." According to the contract, if the team "moves between 2027 and 2032, then the team must pay the city a penalty" (LAS VEGAS REVIEW-JOURNAL, 5/14).
