Good afternoon, everybody.

Uh welcome uh to the convinced center and the um Thursday, February 19th, 2026, uh Las Vegas Stadium Authority Board uh meeting.

We'll call the meeting to order and I will ask Ms.

Bateman to call the roll.

Good afternoon, Mr.

Chair, members of the board.

All members are present either in person or virtually, other than members uh uh bias, white, and co nine.

You have a quorum and the meeting may proceed.

Great, thank you.

Um this is the time for the first uh public comment period.

So anyone wishing to address the board, um please uh identify yourself, limit your comments to um those which are uh relate to agenda items, and please limit them to three minutes.

Anybody wishing to address the board?

Great.

Seeing none, um I'll ask if the board has had the uh opportunity to um review the agenda and the minutes from our December 4th, 2025 uh meeting.

Uh and if there are uh no adjustments to either, I'd entertain a motion to approve both.

Move approval.

Great.

Please cast your vote.

Bob, you side us aye.

That passes, thank you.

Um we will turn to agenda item one.

And I'll stall here for a minute while we wait on Mr.

Finger.

It's all yours.

That went faster than I expected.

Mr.

Chair, agenda item one is to receive a report on the 2025 financial statements and the auditors report.

I'll briefly walk through the financial outcomes from fiscal year 2025, then I'll turn it over to our I daily audit manager, CY, who I was just talking to on the side here to discuss her findings and her opinion.

Um the financial figures you're about to see are all within the football funds because there was no baseball revenue activity last year.

So starting at the top, we budgeted $62 million in room tax.

We received $63.5 million.

Quick look at room tax collections from 2019 through 2025.

We start with the original SNTIC forecast, overlay actual performance in each of those years, starting with the once-in-a-lifetime pandemic we went through, and then seeing recent revenues exceed the forecast at that time.

million dollars in room tax we received 63 and a half million dollars quick look at room tax collections from 2019 through 2025 we start with the original snt ic forecast overlay actual performance in each of those years starting with the once in a lifetime pandemic we went through and then seeing recent revenues exceed the forecast at that time interest was and is always budgeted conservatively most of it is attached to the debt service reserve which isn't operationally usable otherwise um and I'll speak to that later so total revenues exceeded budget we budget admin expenses at three point at the full statutorily allowed amount every year and we meaningfully underspend them every year the slide includes LBCBA and county staff who provide contract staff services it also is our third party attorneys and other professional services debt service payments on bond principal and interest were 37 and a half million dollars capital expenditures on allegiance stadium improvements totaled 9.7 million below the budget basically just due to the timing of projects UNOV's payments and those represent the difference between the current football program net income and the amount that they were receiving when they operated Sam Boyd were 3.6 million dollars last year and I'll remind you that we made two UNLV payments last year as they had been being paid in a rear since the pandemic and that's foreshadowing a future agenda item in total expenditures were about 4.7 million below budget between the revenue and expenditure betterments we were nearly 20 million dollars better in what's called fund balance or which is the governmental description of an equity balance in a in this unit so then looking at reserves at your end by the way you guys know from budget presentations that we have these things called funds in the governmental accounting system that was a consolidated view of all of the football fund activity now looking at each of the funds in the reserves the football stadium which is generally akin to what is called a general fund in governments went from having 37.8 to 7.8 million dollars in the year there's no need to keep money in that fund aside from cash flow management um room tax lag basically and that money really belonged in the waterfall fund you might remember we went through a meaningful budget amendment last year to change the flow of funds and simplify the transfers and the reserve management last year from how it been previously managed the football stadium capital fund has 2.9 million in it at year end again that gets funded statutorily every year that's the fund that you guys approve in January capital projects submitted by the Raiders when they complete those document their completion and the cost of it we reimburse them up to the project cost or the amount um whichever is lower of the project football stadium debt service fund most of this money is that two year it's actually a two plus year reserve now that was uh required under the law and funded the UNLV fund is a pass-through fund so we move money in it out of the football general fund and pay the UNLV bills it doesn't keep residual equity and then the football stadium waterfall residual fund this is where everything that makes it through the waterfall accumulates we ended the year at 56.3 million dollars um that money is available in the future for capital inside or around the stadium it is also available in the future for debt service retirement in the not too distant future it's possible that we'll be in front of this board and talk about um traffic improvement pedestrian improvement outside of Legion Stadium we're having some early conversations with the county and with the Raiders about some potential for projects to that end um mr chair I'm gonna ask Ms Chang to come up here in a second and speak on the audit report but I want to talk about a noncompliance note that is in there regarding Nevada revised statute 354.

Nevada revised statute 354 is the local government finance law and generally this note and she'll speak her own observation of it relates to concerns about the baseball formative expenditures being funded out of football funds originally and whether or not that was consistent with the football funds intend use intended usage and I appreciate and won't argue with the technical reason for the note I discussed it with the auditors in year one of this operation and then in year two again where they made the note I will note though that the legislator passed a law that allowed these baseball revenues required these baseball revenues before bonds to be used for said formative expenses they did not clearly solve for the temporal gap between when the bills are due and when the revenue comes in and in this case the bills were due meaningful today we'll give the first baseball revenue report and we've been working on the baseball deal for two years together there was a single practical solution to do this it was to use the money available that problem will be solved because we are collecting baseball money now the first order of operational will be to pay the football fund back for that expenditure so one and two I thought just order of operation be easier to speak to at first and now I'll ask CY to come up and give her audit report good afternoon.

Good afternoon.

Good afternoon.

Uh, chairs and members of the board.

My name is C.Y.

Chang from IBailey.

I'm an audit manager.

Um thank you for giving us the opportunity to present the results of audit for Clark County Stadium Authority, DBAS Las Vegas Stadium Authority for the year ended June 30, 2025.

Our responsibility as an auditor is to express an opinion on whether the financial statements are presented fairly in all material respect in accordance with US general accepted accounting's principle and government auditing standard.

We plan and perform the audit to obtain reasonable assurance that the financial statements are free of material misstatement.

As part of this process, we consider internal control to help us design our audit procedure.

However, our audit does not include an opinion on the effectiveness of the internal control.

We issued our auditors' report dated December 15, 2025.

In that report, we have concluded that the financial statements are fairly presented in all matter respect in accordance with U.S.

GAAP and government auditing standard.

We did not note any findings except for a matter related to the noncompliance with law and regulations that at mentioned previously.

During our audit, we noted that the football stadium fund incurred expenditures totaling $649,406 related to baseball stadium fund.

Because these costs were not related to the football stadium.

These were inconsistent with the purpose of the fund, and therefore it's an apparent violation of NRS.

This is the only non-compliance that we noted in the current year.

We really appreciate management cooperation with the audit throughout the audit process.

Overall, the audit went really smooth.

Um that concludes my presentation.

I'm more than happy to answer any questions that you may have.

Thank you.

Um, any questions from the board.

Great.

Thank you very much.

Appreciate your work.

Agenda item two, Mr.

Finger.

Mr.

Chair, agenda item two asked the board to approve the reappointment of I Bailey as a state of authorities independent audit firm for the current fiscal year, which is 2026, and to allow the chair to execute any necessary agreements to accomplish that.

There is a fee increase from 30,000 to 45,000 per year for the audit, and that's reflective of the onset of baseball financial operations.

Staff recommends approval.

This is an action item.

There are no questions from the board.

I'd entertain a motion to approve.

So moved.

Please cast your vote.

Jones Black Hurst die.

Bobby Side is aye.

Thank you.

Um great.

Uh agenda item three.

Mr.

Chair, agenda item three is the recurring football stadium room tax report.

Um, this is a couple of visuals of the item that's posted on the website.

After November and December showed year over year betterments to first quarter decreases, and that's interesting language.

Every month so far has been down year over year.

November, October, November were five-ish, where we were double digits.

Now that what this is consistent with, you know, what we all know is happening in the destination right now.

December returned to that first quarter of the fiscal year trend, resulting in the circled amount in a year to date, 9.6% year over year decrease.

Takeaway from that at the bottom of the page is compared to budget because we budgeted a lower amount than we received last year.

We're about 7.5% off budget pace.

And I project that we'll end the year about $5 million below budgeted revenues.

That's not going to cause an expenditure problem.

It's not going to cause a waterfall problem.

So, Chair, this is an informational report.

Thank you, Mr.

Finger.

Um, any questions for Ed.

Great.

Thank you.

We will um open agenda item four.

Um Mr.

Feldman uh is gonna deliver his quarterly report.

Welcome.

Good afternoon.

Uh quarter for 2025, mainly comprised of football games.

Uh, right, most of October, November, and December are a mixture of UNLV and Raiders football.

Um, two big events that I did want to highlight that were very successful in the fourth quarter.

Uh, first our inaugural HBCU Classic in October went off great, really successful event that we were very proud of.

And then in December on New Year's Eve, I would say by far our most successful Las Vegas bowl to date.

Nebraska and Utah, great crowd, and really successful event there.

Overall, over the course of the year for the calendar year of 2025, from an attendance standpoint, it was our most successful year since opening.

Over 1.7 million attendees at our events.

And now we're over 7 million.

And since then, over 7.5 million people since we've opened.

So things are going great.

We're excited for 2026.

Great.

Questions for Mr.

Feldman.

Keep up the good work.

Thank you very much.

I'm going to talk just briefly about results at Allegiant Stadium.

This is a slightly different version, but not very from a presentation that I made to the legislature's interim committee on revenue last week.

And it's just an update, thank you, an update on how the stadium's performing, both in terms of visitation and the benefits to the public in a number of different ways.

2025 was the best year in terms of economic or economic impact, incremental visitors, which is really what drives that we've had at the stadium.

And obviously now more than double uh what was originally projected in 2016.

Economic output is almost four times uh what was originally projected.

Um wage and salaries are up nearly 160% uh and total employment, largely that is generated in the community, not um that uh is generated directly at the stadium, um, is nearly 11,000 uh people up from uh what we projected in 2016 um at um approximately 6,000.

Um from a fiscal impact standpoint, tax generation standpoint.

Um when we projected what was going to happen at the stadium, uh, and this is not include live entertainment tax.

I'm gonna talk about that in a minute.

Um, we projected 31 million dollars, not including LET.

When you add in LET, it was about 35 million dollars that we projected in 2016.

Um that has turned out to be nearly 110 million dollars in 2025.

Um these funds go both to state and local governments um for any number of uses.

Um gaming tax, sales tax, um large 2% of the sales tax goes into the state general fund, uh gaming tax goes into the state general fund, room tax, a third of it comes to the LVC VA.

We appreciate that.

Um, all of this has been fantastic.

Um local transportation taxes um and a number of different methods um go both state and local government.

Um from an LET standpoint, um you can see what's happened to LET over time.

From 2010, um approximately when it was changed for the last time.

Um you saw you can see the growth in the um yellow part of these bars, um, which is LET generation outside of integrated resorts.

So outside of the MGMs and Caesars and Venetians and every place, you know, Caesar or have that have venues in their properties.

Um T Mobile Arena opened in 2016, and you can see kind of a bump in LET because T Mobile Arena um was opened.

Uh we go through the pandemic, we come out of the pandemic and Allegiant Stadium is open.

And so you can see the bump in the LET as a result of Allegiant Stadium in 22.

Um the sphere opened um late in 23.

Um, we had the first uh Formula One race uh late in 23, um, which is accounts for the big bump um or the majority of the big bump in 23.

And then it just continues to improve as we go uh into 24 and 25.

Um I would guess that um the difference and we don't have insight into the tax payments um for any almost anything, actually.

Um it's confidential information.

The state has it, but they don't share that.

Um but you can see um what's happened at these different venues.

Um and so I would guess that at a minimum, um, allegiance stadium's uh LAT generation is at least five times um what was originally projected at nearly four million dollars uh in 2016.

Um the the venue is clearly outperformed everything that we projected.

It is now um at least double uh what we uh projected in nearly every category uh at the time.

And so um, in addition to a great quarter, uh it was a great year.

Uh it's been a transformative project.

Mr.

Bane, obviously a big part of that as well.

Um, so um thanks for making that happen.

And uh thanks for the performance there.

Um a part of our job is to make sure that we um ensure that you folks maximize the utilization of the venue.

Clearly, that is happening, so makes our job easy.

We appreciate it.

Mr.

Finger, we will open uh agenda item five.

Mr.

Chair, since the approval of the UNLV 2025 to 2033 home game schedule at a previous board meeting, UNLV is added an August 29th, 2026 home game against the Memphis Tigers to the calendar.

In accordance with the football stadium lease in the UNOV Joint Use Agreement.

The addition of the schedule is brought to the board for its approval.

Mr.

Chair, this is an action item.

Staff recommends approval.

Thank you.

Um, Mr.

Newcomb.

I don't know if you have comments on your schedule.

Looks great.

Um, it's a good uh they should bring a bunch of people to town.

So great.

Excited about the season, obviously.

There's no questions or comments from the board on entertainment motion to approve.

Move approval.

Please cast your votes.

Challenge black curse guy.

Bob, you side as aye.

And that passes.

Um item six.

Mr.

Chair, agenda item six is informational only.

The football stadium community oversight committee met recently, and the committee's chair, Dr.

Orange Weekly, our board member, will provide a report on the meeting.

Good afternoon.

Thank you, Mr.

Chair.

Uh, the football stadium committee oversight committee's responsibility, of course, is to ensure Raiders' compliance with the community benefit plan.

And I want to remind the board that under this plan on small business and workforce diversity requirements were set uh during the original stadium construction standards, and the radio the Raiders not only met but exceeded.

Ongoing operational workplace diversity and workplace development remain key, including maintaining at least 55% diverse workforce in stadium operations.

The plan also mandates meaningful charitable and civic engagement by the Raiders organization.

The Raiders must submit compliance reports to the committee, uh, which reviews them annually.

The committee most recently convened on January 26th when the Raiders presented their report to the 2025 calendar year.

As always, the meeting began with thoughtful public comments, and several community members spoke to the impact of the Raiders outreach, including uh Vince uh Vince Kay.

Uh he's the president of the Southern Nevada Officials Association, um, who commented on the Raiders um who commended the Raiders, should I say, uh, for their $25,000 grant supporting rental and recruitment and noted additional contributions.

Uh the Raiders invited 21 local high school officials to a game in recognition of their service and funded conference scholarships to strengthen local officiating.

Yvonne Wade, uh, she's now leading Nevada State University Athletics.

Uh, thank the Raiders for their 100,000 partnership and launching Nevada's first collegiate women's flag football program.

The Raiders hosted the NSU team for a pre-game showcase at Allegiance Stadium and welcomed them to hold their inaugural match and practices at the Raiders facility.

Um Pargos Kate, he's the director of team engagement for the Clark County School District, uh, described a deep and ongoing partnership with CCSD.

He credited the Raiders team and uh let which was led by Piper Overstreet White, who's the senior vice president of government and community relations for dedicated support of students, educators, and staff, including initiatives in mental health literacy, attendance improvement, and overall student well-being.

Once again, I was inspired by these stories and the tangible community impact they represent.

The committee's principal agenda item was the Raiders Community Benefit Plan update presented by uh Piper Overstreet White.

Her team introduced the 2025 Impact Playbook, which details the combined efforts of the Raiders, Allegiance Stadium Partners, and vendors.

Printed copies are available today, and the full report can be viewed publicly by read by searching uh 2025 Raiders Impact Report.

The Raiders once again exceeded benchmarks in the community benefits agreement.

Uh, here are just a couple of their highlights, Mr.

Chair and Committee members.

Uh, ranking in the 90th percentile for workforce diversity across the NFL, and the 75th percentile for female representation.

Significant minority and women owned vendor participation through Silver and Black Hospitality and Oakview Group.

Over 2.4 million donated to community causes uh via direct giving ticket and memorabilia contributions, and more than 10,000 holiday meals provided.

Engagement in 77 community events from youth sports to civic volunteer projects, continued leadership and sustainability, uh managing the Legion Stadium's stadium's energy and water and waste reduction goals with excellence.

Uh through additional reporting, the Raiders show that they continue to exceed the uh CBA Stadium Workforce Diversity and Requirements with 76% of ours worked by Oakview Group and from individuals who um self-identify um as um minority uh background.

Additionally, 74% of females at Oakview Group self-identify with a minority background, and 40 46% of ours came from individuals who self-identify as female.

When Mrs.

Overstreet White concluded, I commended her and the Raiders for delivering on every promise made to Southern Nevada.

Uh their work extends well beyond football.

It strengthens neighborhoods, supports education, and fosters civic pride.

Fostering our local culture and community unity is so very important.

Uh am at the uh current social climate, and I praise the Raiders' unmatched efforts.

I also noted their compassion and support in a single mother whose quarterback son suffered a severe injury during the HBCU classic at Allegiance Stadium.

The Raiders' outreach to that family was personal and heartfelt.

And the community was just absolutely elated, have been elated, um, just the support that the Raiders have provided.

Um, Mr.

Chair, on behalf of the committee, I express a deep appreciation to the Raiders' exemplary performance under the community benefits plan.

They continue to not only meet their obligations, but to set a higher standard for community partnerships and public accountability.

Uh, we commend the Raiders for their leadership, generosity, and unwavering commitment to our community.

Um, there is no action uh required by this board.

This was information only.

And again, uh Ms.

Fellman, we want to thank you all for just the job you guys are doing out at Allegion is um absolutely amazing.

Uh thank you for commenting on that HBCU game.

All of the uh sponsors who um helped put that on.

Um was absolutely amazing.

Um, to get the report on the uh quarterback, um we're still saddened um by the outcome.

He's still in recovery, um, but just the outreach and love that was shown to him by you all and the Raiders um definitely um has gone unnoticed.

And so, Mr.

Chair, I thank you so much for this opportunity.

And on behalf of the committee, um, of course, Mr.

Finger and Ms.

Caroline, we thank you both for your support as well.

That concludes my report.

Thank you, Dr.

Wheekley.

I'll echo that.

Um, very much appreciate what the Raiders are doing, community.

Thanks for thanks for making that happen.

Um, any other comments, questions from the board, Rose?

Yeah, thank you, Mr.

Chair.

Thank you, Dr.

Weekly.

Um, just want to add the uh support for what was really impressive results.

I I've been in this community for more years than I can remember anymore.

And uh to see the both uh financial performance as well as the commitment to the community really is is beyond uh heartwarming.

So it really deserves an additional compliment.

I compliment the leadership team.

Um we're excited to see what you've done for the community and what we hope you'll continue to do for the community.

So uh thank you.

Anyone else?

Great.

Thank you.

Uh agenda item seven, Mr.

Fanger.

Mr.

Chair, agenda item seven asks the board to consider approving a budget amendment.

The purpose of this amendment is to allocate monies currently budgeted to the football waterfall residual fund.

That's the bottom of the waterfall I showed you about 10 minutes ago, into the football stadium capital projects fund.

The reason for that is that due to cash flow timing during the pandemic, stadium authority capital fund transfers were put one year functionally in arrears compared to the statutory timeline.

It's just that simple.

Could have done the capital fund at the same time doing the capital fund now.

This is the football waterfall fund in the traditional view I give you.

Room taxes pay for bonds, pay for admin, debt reserve and operational costs removed, debt reserve is funded, then to UNLV, then to this capital fund I speak to, then to the waterfall at the bottom ultimately.

Bond transfers will be what they are.

Admin will be it will be well below what we budgeted as always is.

The UNLV payment is budgeted at three and a half.

It typically comes in under, I haven't seen this year's yet.

This is the budget amendment.

Instead of giving $6.7 million to the Stadium Authority Capital Fund, uh the transfer rounded is $13.5 million.

It's budget neutral.

It comes at a reduced transfer to the waterfall fund.

Now what's really going to happen here, this is this is a budget mechanism.

This is in the form I need to manage for the state process.

Room tax is going to come in $5 million light.

Admin's going to get underspent by a million dollars.

Everything else is going to get funded.

The waterfall might not get any or any substantial money this year, is about how I project that this year is on pace for.

Staff recommends approval.

Any questions from the board for Mr.

Finger on that.

Okay.

Entertain a motion to approve.

But I want to add that, you know, I appreciate the allocation too, UNOV and how it benefits the football program there at the stadium.

Is it's just a whole new different look with the football program.

They have a whole new different swag about themselves.

It's a whole new different walk there, Chief.

It's a great look.

I mean, the spirit and the um just the community pride.

If you if you attended a recent rebel game, um one of our past games, you just feel a totally different vibe uh going, Rob Don Daryl, you agree with me?

See, Rob is nodding his head, Mr.

Chair.

He agrees with me.

Right?

Uh it's just a totally different vibe.

I I just wish that there was something, and I'm way off script here, and so legal counsel, don't get me on this one here.

I wish that there was some way some of this water could seep over to the basketball program, but I'm gonna leave that one alone today.

Um, but at any rate, I'm gonna move for approval.

And if you all can find any money to help out our basketball program, because I love our coach, but it's sad out at the Thomas Mack.

Uh, that'll be my motion.

Thank you.

I I would tell you, Dr.

Weekly, that going to the football games this year.

When I first showed up at the stadium and there were 35 to 40,000 people, I thought, where am I?

It was pretty amazing.

And it would be nice to have some of that at football.

I mean, in basketball.

Mr.

Dere, you have any comments you'd like to make?

He says me too.

Mr.

Chair, for the record, that's not part of the motion.

Oh, the budget amendment is.

I'll second the motion.

Please cast your votes.

Towns Black Hurst, die.

Bob, you start us I never, yes, I motion passes.

Okay.

Um agenda item eight.

Turned it off, not on.

Agenda item eight, asks the board to delegate authority to the chair to execute a personal seat license, um, which I'll describe as PSL going forward, marketing and sales agreement between the stadium authority and athletics Stadco LLC, commonly known as StADCO, and to approve and execute any necessary documents and proposals to effectuate the agreement.

Mr.

Chair, the PSL agreement follows the direction of Senate Bill One of the 2023 special session, which generally provides that the authority has the sole right to sell PSLs or other like instruments in the facility, that that revenue is used for the construction of the stadium, that the PSLs may contain priority purchase rights to ticketed events in the stadium, including the home games of the baseball team, and that the authority may enter into a PSL agreement like this with the consent of Stadco and with the agreement of the team, providing that the authority is protected from all risk of monetary damages, obligations, and liabilities.

A handful of other MLB teams have used similar licenses in the past.

Mr.

Bedain will follow me in this presentation to speak to a say a few words about the functionality of the PSLs.

But the intent is that the minority portion of the seats in the ballpark will have PSLs assigned to them.

The document is similar to the allegiance stadium PSL agreement and all material and relevant aspects.

Mr.

Chair, I'll walk through the major provisions of the agreement.

The parties to this agreement are the authority in STADCO with Team Co.

executing a joiner to the agreement, and I'll cover what that joinder means later in the presentation.

Article two of the document generally outlines the provisions of SB1 that I just explained and further provides the STADCO selects which seats will have PSLs assigned to them.

Sections 2.1 through 2.8 describe the scope and standards of performance for STADCO as our marketing and sales agent, including their exclusive right to sell, the authority's approval of all forms used in the sale, STADCO's responsibility to remarket and sell replacement PSLs in the event of defaults, among other standards.

Section 2.4 contains the statutorily required protections to provide that the authority is indemnified and has no monetary liability under the PSL sales agreements, in addition to providing that PSLs do not provide ownership interest in the stadium.

They are a right to buy tickets for specified seats.

Article 4 provides for the payment of PSL license revenues into an authority controlled PSL holding account to fund construction or pay PSL refunds.

It also provides the STADCO cannot encumber PSL revenues unless expressly permitted to do so.

Articles 5 through 7 require that an annual PSL budget is prepared, provides that the authority has no obligation to pay for any cost associated with services under the agreement.

Articles 13 and 14 in exhibit A provide authority indemnification protections.

And finally, the aforementioned joinder obligates Team Co.

to the indemnity obligations and liabilities of StADCO if Stadco does not otherwise perform them.

Mr.

Chair, that concludes my presentation.

I'm glad to answer any questions the board might have after Mr.

Badain speaks.

Welcome, Mr.

Badain.

Thanks for being here.

Thank you, Chairman Hill.

Thank you, board, and thank you, Ed.

As Ed mentioned, we have made the decision to proceed with a PSL program pending your approval.

This was done after thorough and extensive research in the market.

As Ed mentioned, some MLB teams, I believe five or six have done these programs in the past.

They are significantly different than what you saw at the Legion Stadium and what you see in the NFL.

They will not be on every seat.

It will be on selected seats, primarily in the premium areas of the ballpark.

There's tremendous demand for that product, and so it merited this type of program.

There will be seating product at all different price points.

You'll see that it will not be an expensive seat everywhere in the ballpark.

We're going to have 20 and 30 seats everywhere.

You're going to see some affordable seating for families for the folks in this community.

We want to get them out to the ballpark.

But this will be on a select number of seats.

I do want to take a second to thank Ed and Caroline and the staff that work in this, and I think Delon remained.

Delonoralis with the A's organization have worked very diligently over the last couple weeks to get this document completed and in front of you, and we appreciate the consideration.

Thanks.

Any questions for Mr.

Badain or Mr.

Finger.

Thank you.

You stole my thunder a little bit on thanking everybody.

So you know, thank you, Delon, or thanks, Caroline.

Our outside counsel worked pretty hard over the last couple of weeks to make this happen.

So we appreciate that.

From a process standpoint, well, let me just say first, um, this is a pretty straightforward thing, and it is modeled almost from a functional standpoint, almost exactly the way this worked at allegiance stadium.

Um, and it is simply that um the stadium authority will um contract with the A's to do the work uh to sell uh these PSLs that um we have as a stadium authority the right to sell.

Um that money will honor percent be put into the construction of the ballpark.

And both STADCO as well as the team are guaranteeing that there's no liability on the part uh of the authority throughout this process.

So with a lot of paper that says that, but that's really what it says.

Generally, um we want to make sure that we address any new issue at least twice at uh Stadium Authority Board meeting.

Um given the fact that it's very straightforward process.

This is um somewhat a duplication of documentation that the public has seen um over the course of almost a decade now.

Um that process went exceptionally well, worked well, straightforward, didn't have any issues with it.

Um we the proposal um that we're asking uh the board to approve is to delegate the authority to finish this uh to me.

Um what I am committing to is that I will not do that um until the fourth of March, uh the Wednesday uh nearly two weeks from now.

Um, so that in that time period, if any member of the board has an issue, uh any member of the public has an issue that we think should be brought back to the board, we will call a special meeting and do that.

Um the A's would like to move forward with this program.

We don't have another board meeting scheduled until May.

Um, and so bringing it back for a second meeting that frankly is probably unless somebody raises something between now and the fourth of March, uh, just a process uh and not a functional uh substantive reason to bring it back.

Um we'll bypass that.

Um if we need to bring it back because something comes out that somebody identifies, we will.

Um so that is the request.

That is the uh request for a motion um from the board.

So any questions on that, I'm happy to answer them.

If not, I'd entertain a motion.

Shin.

I'll make a motion to uh follow the staff's recommendation for approval.

And um before we vote, I'll say to you, Mr.

McG, Mr.

Bedane, thank you and the A's um very much.

It's really exciting uh to see um this whole thing come to fruition full circle, if you will.

I know Mr.

Taburdi can remember back over 20 plus years ago, you were a young, younger, younger man then.

Um I remember you, I remember sitting in an office in a meeting where you and Oscar Goodman were talking about professional sports coming to Las Vegas one day at a high level like this.

Mr.

Hill and Mr.

Finger, they were little boys at that during that time.

Um but it's so good to see under your leadership, Mr.

Hill, that you're ushering um this vision in today and to have the A's um come on board and um just y'all have hit the ground running.

You know, I know that there is a buzz out there for March 7th, um, where um you all will take on the uh angels uh coming to Las Vegas, and that's going to be really exciting out at the ballpark.

Lots of people are really excited about that.

And so I think that's gonna give us a little sneak preview um in terms of how the community really feels about baseball and uh to be able to bring uh little boys and girls who dream of one day um having an opportunity um is is just really a blessing.

And then secondly, I just want to thank you before we vote.

Um thank you uh for being a class act um and standing on your promise uh so far um in terms of everything that you all said you're gonna do.

Um you and um Shelley and the team out there, um, thank you for having a young man like uh let me make sure that I get his name right, Tyler Van Eckhart.

Tyler, is Tyler here?

Hey Tyler, how you doing?

Good.

Thank you for welcoming my team uh from CSN to come on the tour.

They're still talking about it.

They've messed up the dress code, they're wearing their baseball caps to work and they're not allowed to, uh, but they're all gonna come to the game.

Uh, but um thank you very much, Tyler.

You a class act, man.

We appreciate you.

And then of course, we want to thank uh Stephanie Gayhart Gaywood.

Stephanie here.

Seemed like y'all bought the whole team here.

Um tell Stephanie, thank you as well.

Um, just what you all are doing in the community.

Um, to recognize someone um uh like we have uh Mr.

Bolden, who was the first African American um law enforcement officer here in Southern Nevada to recognize him for Black History Month, and then to um kick off the baseball season for that low league team in West Las Vegas.

What a blessing.

Thank you.

And with all that being said, this definitely deserves my support, and I'll move for approval, please.

Thank you.

We have a motion, please vote.

Kellen Swaker's eye.

Bob, you cite us aye.

That passes.

Um I'll just point out that typically we have name tags so that the audience can know who we are.

They put them backwards for us so that we can remember who we are.

Speaking of age, um, so anyway.

Um to uh agenda item nine, Mr.

Fanger.

Mr.

Chair, agenda agenda item nine is the first of what will be recurring and increasingly meaningful quarterly reports of the revenues that will be used for the construction, the debt for service reserve, and then ultimately the debt service administration capital and other potential uses for the new baseball stadium.

As a reminder, the sports and entertainment improvement district, the SCID that contains the ballpark will retain all incremental tax and fee revenues identified in the law and by the county and by the state generated from the project.

These include but are necessarily limited to sales and use taxes, including construction sales and use taxes, modified business taxes, live entertainment taxes, commerce, personal property, liquor taxes, business license fees, et cetera.

You've seen the construction, and Mark will show some pictures of it later.

Um, but we've begun to collect sales and use tax on construction materials and a little bit of modified business tax and through November.

Um County reports to me through November, we have 1.2 million dollars in the baseball fund now.

As I mentioned earlier, and to address board member McKinney James's question to me directly: what is the remedy for the note earlier?

This is the remedy for the note earlier.

This amount is just about coincidentally the same amount that was due as of 63025 in the first order of operation is to pay for those formative operations as the law contemplated, if not in time and purpose.

Um the you know, after deed transfer after certain requirements and before bond issuance, these things will be these things, these monies will be used for funding a debt service free to reserve and for paying proportionally the public's contribution to the construction project.

Um timing of the bond issuance has not yet been determined.

The A's have made a decision to introduce the public funding later in the financing window and to date uh the owner is paying for all of the construction cost.

Mr.

Chair, informational report only available for any questions.

Any questions from Mr.

Finger?

Okay, uh agenda item nine.

Mr.

Chair, agenda item 10.

Oh, yes, sorry, 10.

Yeah.

That's why he has me.

Uh agenda item 10 is the recurring baseball stadium project update.

Um, I think we're gonna have both Mark and Sandy come up, but before the A's give that update, I'm gonna ask Tony Constantino of Grand Canyon Development Partners to speak to their observations on current progress as the authority appointed construction monitor.

For those of you that were here during allegiant, um, Tony and the Grand Canyon team have been our construction monitor for both projects, did an outstanding job on allegiance.

We're reappointed by this board, and Tony is a familiar face to those of you that were here for them.

So, Tony.

And welcome, Tony.

Um I'll just add to that.

One of the things that we've asked Tony to address today are the projects that are not the stadium itself, but are um integral uh to uh the operation of the stadium uh in order for it to open and operate.

So um the the Northwest Plaza or podium area, a central plant, and the um parking garage on the southeast part of that uh site.

So thanks for being here, Tony.

Good see you.

Thank you, Mr.

Chairman.

I'm bored, Ed.

Um first off, I'd like to say that we've been uh uh visiting the site on a weekly basis.

We go to the OAC meetings, owner architect construction meetings every week.

Um the uh the organization out there has been very cooperative in allowing us access to the site every time we wanted to.

Uh and I must say that in general construction organization, the site is very well organized, seems to be moving along um according to the schedule of progression of work, seems to be consistent with all of the timelines that they've set so far.

And we see no reason why that wouldn't continue to go forward.

So I want to say that we're very pleased so far with what we've seen.

Um, some of the issues we think that are coming up is there's the the cup, the central utility plant, which is supposed to support the entire development along with the stadium, the parking garage, which is at the south end, which is there to support the stadium as well as the rest of the development, and of course the plaza that comes from the north uh northwest corner, northeast corner, north northwest corner, Las Vegas Boulevard and Tropican and comes to the main door, the main entry of stadium for pedestrian access.

Those are three items that we're concerned about relative to their development.

We do know, at least that we've heard.

We don't know this for a fact because not being part of the stadium uh specific work, we don't get privy to see those documents.

Um we're under under the understanding that the central utility plant is into this to the county for review right now.

Um it's anticipated that construction would start um the second quarter of this year with the intention of being completed for temperate air and and permanent power for the stadium in the appropriate time.

We're also under the impression that the garage has been submitted to the county for review.

Um and that also is intended to start the second quarter of this year, again, to be prepared and ready for the development when the stadium needs it.

Um the third item, which is the plaza.

Uh we're not sure what that is in design because we haven't seen any of the development plans for the surrounding area.

So we don't know what the process or the progress of that design is.

Obviously, it's a concern to make sure that it does get developed in the appropriate time.

Um and that we we're under the understanding that the development of that would take about a year.

So it might want to start construction somewhere in the neighborhood of January of the year before, and the stadium is supposed to open in February of 28.

So you see that potentially happening there.

But again, we haven't seen any development plans for that.

So we're cautious to make sure that those things are progressing in an orderly fashion.

So I'd be happy to answer any questions you might have at this point.

Um any questions from the board for Tony.

Tony, the the prediction of the start times of second quarter this year, comfortable that that's uh the construction window is long enough so that those um parts of the development will be done in time.

We've we've met with um Icon, uh the A's uh representative, and we've gone through the schedule relative to those areas.

We feel comfortable that if they were to start within that time frame, they could be available.

Um we've been aware, at least made aware that they they've uh made early uh order of equipment, which you'd have to have to do for equipment of this nature, long lead items for electrical gear, you know, plant equipment, so on and so forth.

Um, but again, we haven't seen any of that.

We don't know what they're building, you know, we don't know what they've ordered.

Um so we have no way to confirm all that, only what we've been told.

Yeah, sure.

So okay, great.

All right, thanks.

Thanks for your work.

Thanks for being here.

Mr.

Badain.

Thank you.

Thank you, Tony.

Uh I've asked Tyler to join me up here because as Dr.

Weekly said he's better at this than me anyway.

Uh I think we our last meeting was in December, right?

December 4th.

And just in those 10 weeks, you've seen just incredible progress.

And that's testament to Tyler and the Mortson McCarthy JV team, as well as the workforce in Las Vegas.

Some of you uh have joined us and been out for a tour.

Uh, thank you for coming.

And uh, you're always welcome to join us and come out and see what you're a part of and and to be out there on the site and see the location and see the progress and and interact with the workforce is pretty inspiring.

So please take us up on it.

Yeah, I'd just add that if you haven't um taken Mr.

Benane up on the offer, you really ought to.

It's um yeah, inspiring certainly is I I think real.

And as you see it go up, it's uh it's just exciting.

Um, views great, iconic location.

It's gonna be fantastic.

Thank you.

So we have some visuals to share, uh, a few videos that uh hopefully you'll enjoy seeing.

Uh, and I'll I'll speak a little bit after Tyler's done.

Well, good afternoon board.

Uh again, thank you for the opportunity to speak with you all today and share the progress on the ballpark.

Thank you to the athletics for the partnership as well.

Um, excited to uh to provide some updates.

Um most importantly, I want to start again with the great appreciation for the craft workforce in the field.

Um we have completed around 332,000 work hours on site.

So pretty incredible feat in the amount of time that we've been out there.

Uh and again, the the craftsmanship that we're seeing is top notch.

Um wanted to speak a little bit to some of the major construction activities that have been complete on the project.

Uh so not going to read every single one of these elements, but uh we've made tremendous progress on the concrete buttress structures on site.

Uh we are now um complete with I'll say four and a half buttresses.

We have the top lift of one of those remaining that I'll speak to here in a moment.

But uh both buttress two and four are on the east and the west side that we've been able to uh to complete since we've met met last.

Our concrete decks are flying along, as you'd say.

So roughly speaking, we're about 50% with our concrete decks on the project project for both our lower suite level and the main concourse level cumulatively.

So lower sweet is a bit further along the main concourse, and that'll uh that'll follow along.

Vertical columns, um, those are the elements that'll support the uh the structural decks.

So on our lower event level, those are uh nearly 100% complete.

And then as the decks go into place, the columns uh quickly follow.

Uh we are completely finished with our foundations and pile caps around the entirety of the building.

Um, and then we're continuing to work on our core and shore walls.

Uh we have a few of those walls that sit on top of the decks as well, so you'll see those progressing.

Um for project coordination, uh, as the uh permitted drawings are released, we coordinate the work off of those drawings.

So as the county approves different permitted issuances, uh, we make sure that the work is in compliance with that and we're coordinating all of that work effort.

So a lot of individuals working behind the scenes to make sure that the work product that we're putting in uh goes in place right the first time.

This video here shows the work that's gone in place since we met last.

So rough dates, but this shows uh our drone flyover from the October timeline, and then it shows uh about a month later.

So you see those decks that went into place.

Um, and then that work started in the uh October-November time frame, and then this will jump ahead again into December right about now.

And this is middle of December, so that's when you see the uh the next level of decks going into place.

Um that's the uh the main concourse level.

Um, when you uh see some project photos here uh near the end of the middle of this presentation, you'll see the amount of work that's progressed since then.

Um here we are in uh early January.

Uh so even since then we had not yet placed one of our concourse decks.

Um, and we've now I want to say it had the three placements since this uh this drone footage was taken.

And February 16th, so you got a recent one.

Um this shows those concrete decks in place, uh the main concourse uh following along, chasing our lower suite, and then I'll speak to this work here in a moment.

But uh you see a bit of the the earth work happening within the bowl, and that's for the shoring that's gonna support um our large cranes that we'll have in the bowl to uh hoist steel into place.

So, some of the upcoming schedule milestones that I want to share with the group.

Um, we figured we'd choose a time window before we uh we meet with you all again.

Um so we will be 100% complete with our buttresses.

Our vertical concrete structure and horizontal structural decks will continue.

Um that work will uh continue here into the uh the late summer, and then a lot of work that's gonna be starting here in the next couple months.

So again, not gonna read all of this, but uh we're excited to see our underground MEP that's gonna be starting uh here in March.

That'll support the work that needs to go in place for our slab on grade.

Uh, we're gonna start our priority walls and interior roughen and framing.

So you'll actually start to see corridors going into place.

You'll see our MEP overhead for large ductwork that'll be installed, and it's really gonna start creating that feeling of what the uh interior ballpark um you know behind the closed doors will uh will look like, and then on the exterior facade this week we actually started our exterior MEP clip or excuse me, our exterior framing.

Um the clips for our stud walls uh that started to go in in place as well.

So you're gonna start seeing that framing happening.

So uh a lot of exciting activities that are progressing on the ballpark.

Uh our current craft workforce.

So we're nearing upper 300s, close to 400 uh men and women on site each day that are supporting this current uh work effort.

And as we look forward to the next couple months, we anticipate we'll uh reach over that 500 mark by the time that we meet next.

We thought that this was a really helpful visual to help communicate the bowl structure itself.

So when we talk about structural steel in the project, we're usually referring to our bowl steel and our roof steel.

So this image is showing the bowl steel specifically, and this work is starting in March.

So you're gonna start to see the structure of the bowl steel going in place.

You'll start to see us going further vertical, and uh again creating that more of that ballpark feel visually.

This next image is showing a bit of the work that you're going to see starting in the in the the summer months.

So this is showing more closely our roof steel.

In green, this is what we call our shoring towers.

So starting in March, you're going to start seeing these large vertical hundreds of feet tall shoring towers that are going to kind of pop out of the ground out of nowhere.

What that's going to do is really help you all visualize the scale of the project how tall that the stadium's going to be and it's going to be exciting to see those shoring towers go into place.

And what those shoring towers do is that because the truss steel as it comes across when it's installed it needs to be stabilized until the full roof structure is in place.

So these shoring towers help hold up those trusses until the uh until the complete roof steel is uh is finalized.

There's going to be very large cranes that are going to come to the project site some of the largest in North America that we'll have on our project.

So you'll see those large cranes which again creates a lot of excitement on a project such as this very excited to share today as you heard from the the report from Grand Canyon that excited to share that we are on schedule so there's a lot of work that's gone into that.

This is our summary milestone schedule but excited to share that we continue to be on schedule on the project.

So another exciting video I'm going to click play here.

I believe you've seen some of this video before and I'm going to try and do my my best to narrate we just think it's always helpful to look a little bit to the past to look forward but this video starts where our construction started which is right behind home plate with our deep foundations and the piles that went into place.

You start to see all of the grade beams pile caps our walls that are going into place and then here in a moment I'm going to I don't know if I'll quite be able to pause but I'll speak to where we're at today in time.

But this is showing the the continued work we have two different work paths both east and west as we progress around the ballpark those columns going into place our decks going into place and then this is nearing the end of last year where you see our foundations that were completed.

Those little green drops dropping into the middle of the field those are the foundations that support the uh the tower cranes and then this is roughly where we're at today you see the steel that that started so that's you know just ahead but that's in March.

And then this is illustrating the bowl steel that you're going to see progress around the ballpark.

Those shoring towers are now in place and then the large roof steel starts to fly in.

So you'll see us starting on the east side of the ballpark with the large truss steel.

We get multiple trusses in place before we hopscotch over to the west side of the ballpark we connect the dots between those two lines with the uh the infilled trusses and then all of the infill steel.

While all of this work is happening on the exterior of the ballpark for steel structure there's going to be a lot of work progressing on the interior of the building.

So again think about all of the interior MEP the mechanical electrical and plumbing scope all of our framing and then eventually we'll have our interior finishes.

The ballpark wraps up with the uh the completion of that beautiful cable net glass on the north side of the the building that looks out on the Las Vegas strip and then the closure of our ETFE clear stories is what we call them.

That's what brings in that you know nice natural light into the ballpark.

So you see the uh that starting to get uh wrapped up here um visually as uh as the crews finish up and uh the last couple things is just some uh MEP um commissioning at the end of the the construction schedule there so uh we're nearing uh about two years left to go can't believe it it's been uh a heck of a journey so far but we're very proud of the work that's in place.

A couple um more slides and then I'll pause before I hand it back to Mr.

Bedain.

Wanted to show just progress photos.

I know that some of that video moves pretty quickly.

So this is helping to illustrate a lot of the different vertical work that's going into place and then horizontal work for our decks but shows the progression of those decks as we continue to move around the ballpark and the current cranes.

So believe it or not the cranes that we'll have out here are going to be significantly larger than the ones that you've seen out there so far.

The work that you see in this image on the field again that's um we want to make sure that the the earth work that goes in place where those cranes are sitting on is really stout so there's actually a geo grid fiber that or a geo grid mesh that goes into that earth so that it helps retain the uh the weight of those cranes when they have these heavy picks this one is looking from uh from east to west and then this is getting a little bit up and close to some of that concrete work where you see the structural decks in place.

And then this is getting a little bit up and close to some of that concrete work where you see the structural decks in place.

You see all of the the embeds is what we call them.

So the structural steel that's placed in the concrete, you know, that's gonna hold up that structural steel or the precast um that'll eventually sit in this area.

Uh a lot of the shoring and then our access that we have um up to the decks to make sure that the craft can get up there safely.

Uh, these are those uh interesting buttresses that we're gonna be wrapping up shortly.

So the one that you see in the image on the right is uh it's gonna it's one A excuse me, one B.

And we're gonna be pouring the second lift of that here shortly in the next couple of weeks.

With that, I'll pause for any questions specific to the uh the construction section, and then Mark is going to provide some updates on the community front.

Any questions for Tyler?

I'll just mention we've got Con Expo in the building in two weeks, and they've got a whole crane display over at the festival grounds uh Sahara in Las Vegas.

We ought to do that like a contest.

Who's got who's got the best crane display between uh con Expo and the site.

Don't don't challenge uh our friend Dave Ansel to uh to a challenge.

So thank you all.

I'd like to propose a motion to the board that I'll just defer all future time to Tyler and not have to get up here again.

We provided most of this information to uh the community benefit oversight committee a couple weeks ago, but just thought I'd uh run through a few things.

Um related to the two requirements in SB1.

We are at uh around 16% over the 15% participation goal in SLB SLB participation.

Uh and we are at 77% uh on the workforce.

I think if you've been out to the site, uh you can see the makeup of the workforce and and the incredible job they're doing.

The picture right here on the bottom is our owner John Fisher at one of our craft lunches.

We have those every quarter where we feed the entire team and do some raffle prizes and acknowledge some of the workforce.

So we'd love to have you join for some of those as well.

Uh the organization continues to be very active in the community.

Hopefully, you've seen us um we're spending a lot of our time supporting youth sports, education, food and security efforts.

Uh we are also talking the the project is so interesting from uh an engineering standpoint.

We're talking to some local schools about trying to engage the student body and and explain some of the things that that Tyler did so eloquently so they can be inspired by that and see the project in their town.

Um again, I'm not gonna go all through these slides.

I think you guys have have seen where we've been.

You got the report from uh our community benefit oversight committee, but uh I'll certainly answer any additional questions before turning it over to Sandy to expand on some of the things Tony talked about and other parts of the project.

Questions from Mr.

Bivane.

We also appreciate everything the user doing in the community and uh doing it ahead of time and doing more than you're required to do.

So we thank you, appreciate that.

Mr.

Dean.

Hello.

Thanks to uh Tyler and Mark.

It's really nice to be here on a day when we have a lot of tangible progress to report.

And um having so much of it be very positive.

Um I wanted to say a couple things, I guess.

Um, one, just uh maybe a small financial update, which is that we we've now passed the um 300 million dollar mark on the money that we've spent on the project.

And as I think someone referenced, maybe Ed, we're we're paying that out of equity ourselves so far.

We will get to working on the public financing.

Um, we haven't established a firm timeline for that, but it that'll be coming.

Um, and second, uh, really appreciated having uh the the brief discussion on the things happening we uh internally, we often talk about it outside the nine acres.

The ballpark is in a nine-acre circle.

Of course, there's a lot of improvements that are gonna happen outside the nine acres that are really important for the project.

And um, what I want to start by saying about that is we've been in ongoing and regular and frequent dialogue with Bally's about that for some time.

Um, and you know, Bally's has, I think, on at least a few occasions talked about how that they expect that whatever happens on the Tropicana site is likely to come in phases.

And um at the same time, they're off working on things with the county to get entitlements for the site, and they're seeking entitlements for the entire site.

And so I think often that gets reported.

Um, you know, we see a picture in the paper of the entire site all built out.

on a at least a few occasions talked about how that they expect that whatever happens on the Tropicana site is likely to come in phases and um at the same time they're off working on things with the county to get entitlements for the site and they're seeking entitlements for the entire site and so I think often that gets reported um you know we see a picture in the paper of the entire site all built out and I think the reporting has sometimes missed the ballys prior statements that they intend for this to happen in phases the exact phasing that will occur and what'll be in each phase is something that is I think probably you know amongst the most active things we're talking through and uh that's not determined you know finally yet but we'll be soon and I would think we would be able to be back at the May meeting and to be able to describe specific phasing and what's in it and timelines associated with all of that um and I think those were the two things I wanted to share today any questions any questions from Mr.

Dane I just asked um you know Tony called out some dates um get started in the second quarter for two of the um critical projects and then the front podium um the January of next year kind of time frame you feel like that's relatively accurate and enough time uh to make sure that the uh the work's done for opening in 28 so that the that's a great question and um we've been focused for a more than a year on thinking about the timelines to make sure that those three critical components the plaza to get into the ballpark the utility plant to make sure we have air conditioning and the garage um to make sure that we know that we're going to have those things done in some configuration um on time for opening day and we uh I think agree entirely on the date of you know roughly the end of the year for the Northwest plaza and related uh improvements underneath that on the Southeast garage and the COP there are some configuration variations that might allow us to start a little bit later um it would be this year and uh we're working our way through all that and um you know it's we're very focused on the timeline and that's an active source of conversation between us and Bally's and we all agree we want to make sure we get it all done on time thank you I appreciate that thank you okay okay um agenda item 11 Mr.

Finger or Miss Bateman board members at the baseball stadium community oversight committee met on February 5th the committee received a report covering the two main categories of benefits under the community benefits agreement and Senate Bill workforce requirements and community engagement requirements the committee heard from Tyler Vanicott who you just heard from as well and stadium project director at Mortenson McCarthy that uh the project is meeting the workforce diversity requirements of at least 51% of hours performed by target workers target workers are women diverse uh minorities veterans and individuals with disabilities with 77% of such hours of work performed by target workers and the team is meeting the small local business participation requirement of 15% with over 16% of such requirement I know you're hearing this for the second time because Mr.

Bedain still may thunder but that's okay the committee heard about community engagement efforts from both Morton McCarthy and the A's including partnerships with entities such as the Nevada Carpenters Union, Construction versus Cancer, the Nevada Childhood Cancer Society, and Toys for Tots Nevada Mr.

Bedain presented the team's efforts related to youth sports and education food and security initiatives and holiday events and community benefits director Burnett outlined monitoring efforts and his validation of compliance relating to the workforce requirements to ensure compliance with the CBA.

He explained his work with Mortenson McCarthy and measuring the workforce performance objectives of the CBA by reviewing reports and data including payroll reports construction contract requirements and monthly progress reports.

Mr.

Burnett also outlined his intent to develop a small business small local business or SLB participation review program which will include SLB entity verification and tracking of SLB participation including payments to SLBs relative to total project payments.

The committee thanked Mortenson McCarthy and the A's for their efforts this is an information only item but I'm happy to answer any questions.

Questions for Ms Bateman okay thank you very much brings us to our final public comment period um same rules um please identify yourself please um limit your comments to three minutes and um need to be on anything that the stadium authority can address.

Any members of the public uh motion to make uh comments to the board seeing none um thank you all for being here thanks uh to the board um and uh this meeting is adjourned thank you thanks everyone thank you

Um and uh this meeting is adjourned.

Thank you.

Thanks everyone.

Thank you.