Henderson ‘stadium’ site offered for sale

The 477-acre property in Henderson is listed as a “rare opportunity” in a land broker’s email blast to the Las Vegas real estate community this week.

But the “exclusive” listing doesn’t explain how truly unique the land is — given that the site involves a deal under federal investigation and is being marketed by a controversial developer who is accused of defrauding the city of Henderson to get the site, which he doesn’t exactly own yet.

Rick Hildreth, Nevada representative of the Land Advisors Organization company, fired off the email promoting the land that embattled Texas developer Chris Milam is trying to buy from the current owner, the Bureau of Land Management. The email’s subject line reads “Exclusively Listed — 477 Gross Acres, Rare Opportunity Adjacent to Inspirada MPC, Henderson, Nevada.”

There is no asking price, but the BLM accepted Milam’s $10.5 million bid for the raw desert that industry sources say could fetch as much as $30 million in a regular sale. Hildreth did not return calls to comment Wednesday.

The first page of the 10-page “property marketing package” shows scenes of the Strip and tells prospective buyers, “This truly represents a unique and rare opportunity to buy land in Southern Nevada of this size and quality location.” The package includes location maps and describes the property as mixed-use, though “No single family has been approved.”

Not mentioned: Henderson’s lawsuit would block the land uses touted in the email.

Henderson alleges Milam enlisted city help in winning the BLM bid by fraudulently promising to build an arena-and-stadium complex on the site when he really intended to flip it for development of homes and businesses.

“(The land listing) is just further evidence that it was his intent all along to use this property for purposes other than what he represented to the city,” said Bud Cranor, a spokesman for the city of Henderson.

This is Milam’s second attempt to market the land. City officials said they obtained marketing and promotional materials offering the site for residential and commercial use last November before Milam told them that the promised sports complex was no longer viable.

The Department of the Interior’s inspector general’s office is investigating the land deal, including the role of former national BLM Director Bob Abbey, who is a friend and business partner of Milam’s land consultant, Mike Ford.

In mid-2011, when Milam was pitching the arena deal to the city, Ford visited with Abbey while his friend was still BLM national chief and then wrote Milam that “we can expect full support and cooperation at the local, regional and national level.”

Abbey and Ford are now partners in a Henderson land consulting firm that stands to make more than $500,000 as a “success fee” from Milam if the BLM land deal is consummated, the city’s lawyers allege.

“It is surprising to me that Milam would list this property and authorize a widely distributed email blast in light of the city of Henderson lawsuit and the federal investigation,” said developer John Ritter, whose company supervised the adjoining Inspirada master-planned development while that project was in bankruptcy.

Milam’s new attorney, Las Vegas lawyer Terry Coffing, said the sale notice should come as no surprise.

“Listing the land was the result of settlement negotiations between the current litigants,” Coffing wrote in an email to the Review-Journal. “This is no surprise to those who were part of the discussions. (Milam) is fully prepared to close escrow with the BLM on or before” March 28.

But Dennis Kennedy, whose law firm is representing the city, said Coffing’s version “has no basis in reality.”

“Late last week Mr. Milam made an offer of settlement to the city,’’ Kennedy said. “The offer consisted of Milam’s paying money in return for dismissal of the litigation. That offer was rejected by the city. The sale of the land was never discussed.”

Cranor added, “There is no settlement, and we did not give any permission to list the land for sale. Our lawsuit is intended to prevent him from selling the land.”

It’s unclear whether Milam could take title to the land on or before March 28. The BLM won’t decide on a land transfer until the inspector general’s investigation is finished.

“The BLM is fully reviewing the transaction. The IG investigation, when complete, will be a part of the BLM’s consideration of the pending sale,” said Celia Boddington, a spokeswoman for the BLM national office in Washington, D.C.