New Henderson resort one step closer to reality

The Henderson City Council voted unanimously Tuesday to formalize its intent to sell land to be developed for a new resort.

Approval of the resolution puts the City Council a step closer to finalizing the sale of about 9 acres near St. Rose Parkway and Las Vegas Boulevard South to Marnell Gaming Management LLC.

Marnell and the city will need to work out a development agreement for the hotel-casino before the sale can be finalized, Henderson spokeswoman Kathleen Richards said.

Henderson intends to sell the land for about $4.3 million, records show. The average appraised value of the parcel is about $6.5 million, according to the city.

State law allows the city to sell land below market value for economic development purposes.

Marnell estimates its investment in the project at about $250 million, according to the council agenda item.

Contact Blake Apgar at bapgar@reviewjournal.com or 702-387-5298. Follow @blakeapgar on Twitter.