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October 21, 2014

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Developer, Henderson city officials move forward on stadium project

Plans call for facilities to house pro basketball and soccer teams

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.

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  1. "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....

  2. @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.

  3. 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.

  4. 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.