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An NBA Team Coming to Las Vegas? | Sports

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An NBA Team Coming to Las Vegas?
Sports

LAS VEGAS -- Plans for a new arena on the north end of the Las Vegas Strip are looking more promising.

Texas developer Chris Milam, whose plan it is to build the Silver State Arena on the old Wet N' Wild site, is hoping to use tax increment financing to fund the arena. TIF is a creative way to use tax dollars to pay for municipal improvements, like arenas.

An arena would increase the property value for business owners in the area, and generate the additional property tax revenue to pay for the vast majority of the stadium.

Milam claims to have an NBA team under contract to become the arena's top tenant, once it's completed, but calls to Milam were not returned.

At the NBA Summer League, reaction to this so-called signed agreement was varied. A lot of coaches and executives a little sensitive about the issue, given the nature of what is being discussed.

As for Milam, he is scheduled to go before the Clark County Commission on August 4th, and if he can really provide a signed document with an NBA team which guarantees occupancy, he will have cleared a major hurdle.

But let's see the document.

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