Nevada board gives final OK to $4.6 million bypass land purchase
“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.”
Whaley, Sean. Las Vegas REview Journal 8 July 204.