Nevada board gives final OK to $4.6 million bypass land purchase
CARSON CITY — An eminent domain dispute over land needed for the Boulder City bypass was resolved Tuesday when the state Board of Examiners approved a $4.6 million payment for the property, far less than the last $33 million offer from the landowner.
The settlement amount for three acres of the Jericho Heights property in Henderson was approved on a 2-0 vote by the board, which includes Gov. Brian Sandoval.
The owner had at one time valued the land at more than $100 million.
The state initially valued the three acres at less than $1 million.
The state needs the parcel for the first phase of the bypass project to Railroad Pass.
There is still an anticipated financial settlement for mineral rights, but the amount is expected to be modest.
Sandoval said the potential financial exposure if the dispute went before a jury made the settlement the right decision.
“The context of this is this is a vital piece of property associated with the construction of the Boulder City bypass, and also showing that we’re making progress with regard to the future I-11 corridor,” he said. “And this was a significant obstacle in terms of getting that project done.”
Work on the bypass is on hold while a company tests for naturally occurring asbestos identified as being in the construction zone. The firm Tetra Tech received a $500,000 contract to perform the testing, which is expected to be completed in August.
Contact Capital Bureau reporter Sean Whaley at swhaley@reviewjournal.com or 775-687-3900. Find him on Twitter: @seanw801.