Union Pacific to update city on downtown land status

Richard N. Velotta and Denise Cardinal

Tuesday, March 24, 1998 | 10:16 a.m.

An executive with the Union Pacific railroad was scheduled to meet city officials today to discuss plans to sell a 115-acre parcel near downtown Las Vegas.

Union Pacific Assistant Vice President David Uhrich scheduled a meeting with Mayor Jan Laverty Jones to discuss options for the land, targeted as a site for a downtown project to include an events center, a performing arts district and a collection of restaurants.

The meeting follows a report that the Pauls Corp., a Denver development company headed by Bill Pauls, may back away from the project after expressing interest in acquiring it last year.

"I disagree that the plans have fallen through, the ball's in UP's court," Jones said this morning. "I like Bill Pauls and think he's an honorable developer. I would like to see him as the partner in this project."

Jones said she would oppose any plan by UP to parcel the acreage and sell it as individual properties.

Representatives for Pauls did not return phone calls this morning.

There are a number of roadblocks holding up development of the property. The problems:

Lehman Bros. spokesman Chris Cosentino said Monday he could not comment on the case, but local officials say the foreclosure could occur in early May. In addition, Tanner owes $460,282 in taxes on the land according to Clark County officials.

"Dave Uhrich is coming in today to tell me what his plans are for the land," Jones said.

Jones said regardless of what happens with the UP acreage, downtown redevelopment would stay on course.

"We've always known that UP (land) is the third and last phase of downtown development," Jones said. "In terms of downtown development, we'll keep going the way we are -- concentrating on the Fremont Street Experience."