Monday 25th of May 2020 06:31:57 PM GMT

Ahead Of Las Vegas Stadium Authority Meeting, Problems With Labor, Hotel Tax Revenue

falling-hotel-stadium-tax-revenufalling-hotel-stadium-tax-revenu
(Last Updated On: December 29, 2018)

Las Vegas Stadium is said by some publications to be ahead of schedule, but that view is suspect, at best.

The Las Vegas Stadium Authority (LVSA) Meeting for November 14th 2018 is less than a day away, and the page presenting its agenda and background information point to problems, on-going and new. Finally, and for the first time since July 19th, 2018, the LVSA posted the revenue chart from the stadium tax on hotels rooms.

That money is nothing to sneeze at: it’s used for the contruction of the stadium itself. What’s being collected now is what’s called “pay-go” revenue that’s passed to the Oakland Raiders / Mortensen / McCarthy contractors who are building the facility. The revenue stream does not apply to the pay-down of the $643 million bond (of the $750 million total subsidy) until 2019.

So, the tax revenue that’s to be brought in per month is to equal or be more than $107 million. Thus, since that’s money that has to be collected from the stadium hotel tax stream, any monthly level of revenue less than the originally expected $5 million per month is a concern. That brings us to this problem of the poor monthly hotel tax revenue stream, and the poor reporting of it by the LVSA.

For the July 19th Las Vegas Stadium Authority Meeting, a chart was posted that showed an overall difference between the LVSA budget and the “actual” budget of $1,479,872, or a difference of 2.4 percent. No update was posted or presented during the September 20th meeting, meanwhile the tax revenue for that month was $3,676,681 and not $3,897,529 according to a Twitter tweet by now-Nevada Governor Steve Sisolak.

A simple comparison of time-series data would tell anyone revenue from the stadium tax was declining versus the previous year: a problem borne of 12 months of declines in Las Vegas visitor counts versus the previous year. Yet, the issue was not presented for public discussion by the LVSA.

Now, the LVSA presents the first revenue report in three months. It shows a difference between the LVSA budget and the “actual” budget of $467,239 or 0.6 percent. That’s a dramatic decline of $1,013,633 between “difference” in July and September.

Moreover, if Sisolak’s report of $3,676,681 were used and not $3,897,529, the $220,848 difference would have cut the total reported budget difference of $467,239 down to $246,391. And there’s still another issue.

The other issue is that neither the LVSA or Governor Sisolak posted stadium hotel tax revenue for October, and it’s now November 13th. So, we really don’t know if the LVSA has reached a budget position where it’s once notable “difference” is down to zero, or not.

On top of that, guess what folks, this is the last Las Vegas Stadium Authority Meeting meeting of the 2018 year. That means, unless the LVSA gets religion and posts the October 2018 stadium hotel tax revenue data tomorrow, the real information on the financial health of the government-ran stadium organization is, for all practical purposes, hidden from the public.

The LVSA could be running a deficit and the public would not know it. So much for sunshine.

And that brings us to the discussion of the Las Vegas Stadium labor problem. This was brought to my attention via a viewer who reads the blog LVSportsBiz.com. The man who runs that publication, Alan Snel, wrote a post called “Raiders Stadium Consultant Concerned About Impact Of Available Iron Workers On Steel Work.”

Basically,

The report which is on the agenda page for tomorrow’s LVSA meeting does point to a problem. In the words of Mr. Snel:

“the status report for Wednesday’s stadium board meeting agenda concluded with an interesting little nugget provided by the stadium authority’s outside construction consultant, Grand Canyon Construction Partners (GCDP). Grand Canyon Construction said that it was noted in previous reports that the Raiders stadium contractor (the Mortsenson-McCarthy tandem) has chosen to accelerate the steel erection of the venue to make up for lost time in concrete work. (The stadium is projected to be complete in July 2020.)

Grand Canyon Construction also noted that it has been advised that the labor pool for union iron workers in the metro Las Vegas area is “almost exhausted.”

With that in mind, GCDP “is concerned that this may have a negative effect on the contractor’s ability to capture lost construction time,” according to the meeting agenda status report. Stadium authority staff has requested Grand Canyon Development Partners closely monitor the situation, “as this may pose a heightened risk for project delays.”

In the status report for Wednesday’s meeting, there was another issue raised by Grand Canyon Development Partners. “In its October submission, GCDP noted that StadCo (the Raiders) had omitted previous provided milestone data from its monthly reports. GCDP indicated that it was ‘important to identify previously identified open dates,’ and they intend to ‘continue to track these and other anticipated complete dates’ as part of their project monitoring efforts,” according to the status report item for Wednesday’s meeting.”

In other words, in pure English, the idea that Las Vegas Stadium will be opened by July 31st 2020 is pure fantasy – this confirms that. Right now, we don’t know what the real end date of construction, or the true stadium opening day will be.

So, if Mark Davis wants to stay in Oakland for 2019, he might as well extend his plans to include 2020. Well, as it happens, the proposed Oakland lease extension does just that.

Stay tuned.

Oakland News Now @OaklandNewsNow is by Zennie62Media, Inc. with CEO Zenophon Abraham AKA Zennie62 YouTube Partner, Oakland California blogger / vlogger Zennie Abraham @ZennieAbraham . Hire @Zennie62Media, Inc to tell your story.

Zennie62Media uses smartphones enabling our 98-blog network, specially-made blogs, website, social media platforms covering politics, news, sports, and tech, @Oaklandcitynews, Oakland City Council, North Oakland, East Oakland, Montclair, Adams Point, Uptown Oakland food culture, BBQ Becky Jessica Schulte, Jogger Joe Henry Sintay, Oakland crime news, Bank of America loans, COVID-19 updates, homeless news, SF Bay Area news, @breakingnewsbayarea, Atlanta news, Chevron Ecuador, Steven Donziger, Fayetteville GA news, @FayettevilleGA Fayette County Georgia, San Francisco news, San Jose news. Also, Academy Awards / The Oscars entertainment,Tom Hanks, Skyline High School, Oakland Sports, Oakland Panthers, Oakland Coliseum, Oakland Arena, Oakland Raiders, Las Vegas Raiders, Las Vegas Stadium Construction, Allegiant Stadium, NBA, NFL, NFL Draft, NFL Combine, CES Las Vegas tech, San Diego Comic Con sci-fi. @GrandLakeTheater @LasVegasHotels

Zennie62Media has content development and online reputation management clients like Insight Terminal Solutions @InsightTerminalSolutions and The Oakland Bulk and Oversized Terminal, with California Capital Investment Group Managing Partner Phillip Phil Tagami @PhilTagami co-developer, @JohnSiegel John Siegel as ITS CEO – exposing coal and Oakland fake news. Zennie62 has helped Maria Ayerdi Kaplan @MariaAyerdiKaplan, developer of Salesforce Transit Center in San Francisco, Kofi Bonner, and Flowsent capture the Oakland Cannabis Delivery Dispensary @OaklandCannabis market with fitness model female bodybuilder Laura Ehlen and weedmaps help. We’ve partnered with CoLoursTV, CNN, YouTube, Google, NBC, Vice, Oakland Post / Post News Group, Landis PR, and other media organizations. Competition: The SF Chronicle, Las Vegas Review Journal, East Bay Express, Oakland Tribune.

Zennie62 interviews celebrities like Lars Frykman, Bill Boyd, Arizona Cardinals QB Kyler Murray, Raiders Owner Mark Davis, Raider Legend Raymond Chester, NY Giants Owner John Mara, @SportsTalk Tony Bruno, Sports Agent Leigh Steinberg, Oakland’s “Jogger Joe”, Cam Newton, NFL Commissioner Roger Goodell, California Governor Gavin Newsom, Scott Kidd, Actors Richard Dreyfuss, Lou Ferrigno, Lindsey Vonn hot legs, Blake Neely, SDCC’s David Glanzer, Publicist Edward Lozzi. Topics like Oakland Apartment rents, WordPress, CVS Mail Order and Pharmacy, Kaiser Permanente, Rosa’s Home Cooking Restaurant, The Studio Cafe, @OaklandCityCouncil, Mountain View, CA, London, England, Moscow, Russia, blacks in tech, Tackett Bartlett LLP @TackettBartlettLLP, Jameis Winston, Pinewood Studios Atlanta, Jeff Miller, Joceyln Moore, Derek Carr, Marcus Mariota, Yanqing Ye, UC Berkeley, NFL Owners Meeting, NFL Annual Meeting, Eli Lilly Coronavirus COVID-19 vacine, Summit Bank Oakland, Bank of America.

Also Pat Abraham Yerger, Oakland Mayor Libby Schaaf @LibbySchaaf, Councilmember Nikki Fortunato Bas, Dan Kalb of District 1, Loren Taylor, Lynette Gibson McElhaney, Sheng Thao, Noel Gallo, Robert Bobb, Rebecca Kaplan, Larry Reid, Tech Entrepreneur Sarah Lacy, Personal Trainer Megan Avalon Buffed Barbie, Social Media Pioneer Marc Canter, SF Mayor London Breed, Scott McKibben, CA Assemblymember Buffy Wicks, Schools Superintendent Tony Thurmond, Berkeley Councilmember Ben Bartlett @BenBartlett, Raiders Charles Woodson, 49ers Jerry Rice, Grand Lake Theater Oakland Owner Allan Michaan, Irvine City Manager John Russo, Guy Fieri, Oakland CAO Edward Reiskin, Raiders Coach Jon Gruden Running Back Josh Jacobs, Stanford HC David Shaw, Tri Ngo, Falcons Coach Dan Quinn, Michael Mina, and NFL Draft Mr. Irrelevant Head Melanie Fitch and Paul Satala. Subscribe to Zennie Abraham’s @Zennie62 YouTube Channel, today!

About the Author

Zennie Abraham
Zennie Abraham is the CEO of Zennie62Media
;

Oakland News Now Recent Blog Posts