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Henderson Approves Sale Of Land To Raiders For New HQ

The city of Henderson, Nev., has approved the sale of 55 acres of land to the Raiders to "build a practice facility and corporate offices." The sale is for $6.05M, "half the fair market value." The sale was finalized last night at a city council meeting (LAS VEGAS SUN, 2/7). The city was "able to sell the land for less than the appraised value" because of the "potential for economic development -- 250 full-time, non-football jobs and tax revenue." The project developer plans to spend about $75M "building the team facilities." A "likely groundbreaking is expected in April or May" (LAS VEGAS REVIEW-JOURNAL, 2/7).

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