Updated 

Henderson City Council again extends escrow closing date for Union Village


For the fourth time, the city of Henderson is amending its land purchase agreement with the developer of Union Village to extend the escrow closing date.

But this time, the developer must pay for the delay.

The Henderson City Council voted Tuesday to postpone the close of escrow until July 16. The developer in turn agreed to make deposits to escrow of about $115,000 for each monthly extension.

“We don’t want to be dangled,” Henderson City Manager Jacob Snow told the Review-Journal last week.

Council members approved a purchase agreement with the developer, Union Village LLC, in June 2011. The deal calls for the city to sell 150.7 acres near U.S. Highway 95 and Galleria Drive for $11.6 million.

Snow has said the city will not sell the land until the developer has signed an agreement with the project’s primary tenant.

The $1.6 billion project on a total of 228 acres is being billed as the first integrated health village in the world.

David Baker, managing partner of Union Village, said the developer had a one-year agreement to negotiate exclusively with Dignity Health, but that agreement ended at the start of January. Dignity Health owns the two St. Rose Dominican hospitals in Henderson.

On Feb. 7, Union Village entered into a 90-day agreement to negotiate exclusively with another health care provider that has expressed an interest in developing a world-class hospital complex and health center within the project, Baker said.

He said a confidentiality agreement prevents him from identifying the potential partner.

“We feel that we’re on track,” Baker told the Review-Journal on Tuesday. “It’s just a big project, and we need to make sure we do it right.”

Baker said Union Village already has invested “a ton of money” in the project and is prepared to invest more.

“We wouldn’t do it if we didn’t believe in the project and what it will do for Southern Nevada,” he said.

 

Rules for posting comments

Comments posted below are from readers. In no way do they represent the view of Stephens Media LLC or this newspaper. This is a public forum. Read our guidelines for posting. If you believe that a commenter has not followed these guidelines, please click the FLAG icon next to the comment.