Tuesday, Aug. 12, 2014 | 3:01 p.m.
CARSON CITY — The state Board of Finance today approved the sale of an $85 million bond, with most of the money going to renovate the Thomas & Mack Center at UNLV.
The issuance of the bond was approved by the 2013 Legislature and will be paid off with tax revenue from slot machines.
Of the total, $57.3 million is set aside for the Thomas & Mack. UNLV officials said the work would bring the facility where the Rebels play basketball “up to the upper end of collegiate arenas.”
Another $600,000 is earmarked for a study of building a stadium on the UNLV campus.
A total of $27.7 million is set aside for other improvements at the UNLV and UNR campuses. The regents of the Nevada System for Higher Education will meet Sept. 4-5 to approve the apportionment of the funds.
The money for the Thomas & Mack will go toward improved seating, fire protection, Americans with Disabilities Act compliance and updating the food service area.
The Thomas & Mack was built in 1983 for $30 million to $35 million but would cost $300 million to $400 million to replace today, UNLV officials said.