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By Conor Shine (contact) 
Tuesday, Oct. 18, 2011 | 11:06 p.m.
Home News
With hopes of reaching a final agreement by April, a developer and Henderson city officials are working quickly to lay the groundwork for future negotiations on a proposed $1.3 billion stadium project.
On Tuesday night, the Henderson City Council approved a series of planning items related to the streets, sidewalks, trails, sewers and public transit that will serve the multi-sport complex.
The master plan agreement, which serves as the framework for negotiations, was also updated to include basic terms for the buildings' lease and place guidelines on future phases of development.
The project, slated to be built on 500 acres of federal land east of Interstate 15 near the M Resort, was first introduced at a city council meeting in September. The plan calls for an initial phase of building that will include a 17,500-seat enclosed arena suitable for a professional basketball team and a 25,000-seat, open-air stadium to host a professional soccer team.
The stadium would be privately financed, with the city helping implement a tax increment district or a tourism improvement district. City officials insist taxes will not be raised due to the development.
The project is being led by Chris Milam, who has tried unsuccessfully to build a stadium at several sites around the valley over the past few years.
City officials and the developer hope to have a final agreement in place by April, which would allow construction to begin in the summer.
Director of Utility Services Dennis Porter said the city still has the option to walk away from the project at any point until the final agreement is signed.
Several of the changes approved by the council Tuesday night will give the city more flexibility and help minimize risk from the project, Porter said.
Among the biggest changes to the initial agreement approved in September is a clause that requires the developer to complete construction within three years of the agreement. If the developer doesn't, the 500-acre site must be returned to its initial state, and any completed construction would have to be torn down, Porter said.
"What we didn't want was for the project to get started and then just sit there," he said.
Archives
- Henderson City Council lets stadium feasibility study move forward (9-6-2011)
- Henderson to hear proposal for stadium complex near M Resort (9-1-2011)
- Sports complex proposal in Henderson a ‘done deal’ (8-11-11)
- Proposal emerges to build three-stadium complex in downtown Las Vegas (2-8-2011)
- UNLV athletic department sees on-campus stadium as a game-changer (2-1-11)
- Developers put early plans for UNLV stadium, retail district on display (2-1-11)
- Regents to hear UNLV arena plan for football, basketball (1-31-11)
- Mayor: UNLV domed stadium wouldn’t conflict with a downtown Las Vegas arena (1-27-2011)
- Report: UNLV domed stadium plans will be unveiled Tuesday (1-27-2011)
- Goodman: Arena project a key issue for next Las Vegas mayor (1-20-2011)
- UNLV acknowledges effort to bring stadium, football to campus (1-19-2011)
- Mayor: Sports arena ballot petition 'irrelevant' to city arena efforts (11-18-2010)
As long as Chris Milam is paying..whatever, build it. Sounds like he's getting free land. That should be the extent of tax payer funding. Not sure about a tax "district" but if he wants to build it, own it and operate it...fine.
I still don't think it's a viable project. David Stern has long been against a team in Las Vegas because of wagering issues. I don't know what has changed. As far as concerts go with tourists, etc...I would think something closer to the Strip would be more ideal.
I like the "finish it or dismantle it" clause. Too bad Las Vegas didn't put those clauses in for some of these casino and commercial projects. The unfinished "Manhattan West" project is a real eyesore on the west side.
"City officials insist taxes will not be raised due to the development."
If you believe that there's a bridge in Brooklyn we can fly to Henderson....
@TomD1228
The developer will have to pay for the land they acquire, but that money will go to the Bureau of Land Management (which owns the land).
Normally, those land sales are opened to a competitive bid, but the city has backed an application by the developer to purchase the 485 acres through a direct sale.
As long as Mr. Milam is using his money then let him run with this project. That 485 acres that is owned by the Federal Government is not making us any money or taxes. Just sitting there causing dust.
It appears the city is doing it's best to cover their tail on this one so it is worth a shot.
I am not sure about sports making it in Vegas, would not put my money up for it but if Mr. Milam has a plan for his $1.3 Billion then go for it.
The I-15 will need to have extra lanes installed along with Las Vegas Blvd and other streets so that traffic doesn't become grid locked before and after events. The expense for these projects should be paid for by the builder. The special tax should be put on those attending and not on residence that live in the area. The same holds true for Water and Sewage mains. The Water should not come from SNWA as they are already saying they have a problem with water and want to bring water from Northern Nevada at a cost of close to 10 Billion dollars.
This deal will never get done. The financing from Wall Street will just not be available in this bad economy. The cost of infrastructure and acquisition of the land will be enormous. The developer's only hope is that foreign investment money be made available and that is just not going to happen. I just do not to see the City of Henderson be on the hook for a dime.
Add a hi-speed train from California, that will fix the I-15 traffic issues.