Henderson getting schooled on land deals
Bizuayehu Tesfaye Las Vegas Review-Journal @bizutesfaye
The city of Henderson sold the Raiders 55 acres last year for $6 million. That was half — half! — the value of the $12 million tract. Yes, I get it: An investment in economic development, etc. But the Raiders wouldn’t have paid $12 million? Or $10 million?
Now, Henderson has purchased a nearby 10-acre tract for the full price of more than $4 million from the federal government.
Buy 10 acres for $4 million, sell 55 acres nearby for $6 million. Genius? Hmm. And we all know that the “city of Henderson” actually means “the taxpayers of Henderson,” right? Maybe Henderson residents should be asking their council representatives about this.
