Developer of Proposed Arena Near M Resort...No Longer Viable

STADIUM PROJECT MANAGER SAYS IT'S NO LONGER VIABLE....ALSO LOSES IN COURT on ANOTHER DEAL GONE BAD

It all sounded TOO GOOD to be TRUE when Developer Chris Milam brought up a Sports Complex in our own backyard near the M Resort; and apparently, IT WAS TOO GOOD TO BE TRUE after all.

Henderson City Manager, Jacob Snow, was recently notified that Milam was TERMINATING the project.

Ouch !

There's always a BUT.....

Milam's letter went on to say that "We are fully committed to achieving development of the arena complex and accompanying development in a way that will greatly enhance the city and surrounding areas."

No one seems to understand that part of the letter, and there is speculation that "development" will involve residential properties, something the City Council was led to believe was not part of the deal.

City Attorney Josh Reid evidently believes that to be the case, and wrote a letter to Milam that "we have a problem."

Read the entire article from the front page of the November 30, 2012 edition of the Las Vegas Review Journal:

http://www.lvrj.com/news/arena-developer-calls-project-not-viable-still-wants-to-develop-land-181481151.html

And the troubles for Chris Milam didn't seem to stop there. 

In a decision by the Nevada Supreme Court, dated November 28, 2012, the court, by a vote of 6-1 UPHELD a $1.1 million judgment against  Mr, Milam resulting from an accusation of lying to his business partners.

Here's the full article that was also located on Page 5 of the Review Journal of the November 30, 2012 edition.

http://www.lvrj.com/news/justices-uphold-judgment-against-developer-milam-over-hard-rock-tower-181421911.html

As part of the early discussions, a number of us were both optimistic, as well as skeptical, of the arena project when it was first proposed.

One such individual, recently defeated Clark County School Board candidate, Kevinn Donovan, was particularly critical of the arena arrangement.

Local residents, forum owner of www.anthemtoday.com,  Rana Goodman, and former SCA board candidate, Nelson Orth also brought strong concerns to the City Council as to the viability and credibility of the arrangement as well.

And sadly, they were ignored by Henderson officials.

Is it over?

Probably not, but one thing seems rather certain at this point...

Las Vegas will continue to linger without a major sports team.

Dick Arendt