Deadline for start of construction on All Net Arena project in Las Vegas extended
LAS VEGAS, Nev. (FOX5) - The All Net Resort & Arena project was narrowly granted a new deadline by Clark County to start construction by September 2023.
A spokesperson for the project tells FOX5, the commencement of construction had technically begun in August with the removal of various billboard signs and various other structures. FOX5 has asked Clark County whether officials do indeed believe that construction has technically begun or not.
The project on a 27-acre stretch of land off Las Vegas Boulevard and Sahara had a construction start deadline of fall of this year. Project officials told the Clark County Zoning commission that numerous tasks had been completed, from clearing debris and prior construction, to securing various permits and agreements. The attorney with the project, John Delibos, stated that numerous requirements from the previous extension were fulfilled.
Project officials released the following construction timeline to Commissioners: in early 2023, a construction fence will appear along Las Vegas Boulevard. By fall 2023 into 2024, that’s when excavation of the site will start.
There are hopes that the future arena could host a future NBA team for Las Vegas.
According to project officials, funding comes from credit sources including PG Asia Investment Bank, with $5 billion in a line of credit granted to the Dribble Dunk Project.
“The applicant has come in here with funding sources that are different every single time. And last time it was magic money from the Middle East,” said Commissioner Justin Jones, who expressed skepticism.
“We’ll see a project where there are commitments for financing. And often they don’t materialize,” said Chair Jim Gibson, who expressed concern over the initiation of a project that could be left incomplete.
Jackie Robinson, who sits on the All Net, LLC board, explained how international funds can be used for the project.
“These are infrastructure bonds that are backed by the federal government. There are public projects attached to each one of the bonds. Therefore those funds can be brought back into United States,” Robinson said.
FOX5 has been told there will be a press conference very soon to address concerns and a timeline for construction.
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