Henderson city officials are in talks to settle their lawsuit against would-be sports arena developer Chris Milam.
An agreement has not been finalized, but if one is reached, it would end City Hall’s legal fight alleging Milam tried to flip the proposed government-owned project site near the M Resort to other developers for “substantial profit.”
City government spokesman Bud Cranor confirmed that settlement talks are being held.
“At this point, we do not have an agreement,” he said.
An attorney for Milam did not immediately return a call Monday seeking comment.
Milam laid out plans for an indoor arena and three stadiums in Henderson for his proposed Las Vegas National Sports Complex, though no teams have committed to the facilities. The complex was expected to cost more than $1 billion.
In late January, City Hall sued Milam and several others working with him on the project. They were accused of using a city-approved development pact to buy the 480-acre project site at a cheap price, about $10.5 million, and then sell it “piecemeal” to residential and commercial developers.
The U.S. Bureau of Land Management owns the project site. Milam’s Silver State Land LLC is scheduled to close escrow on the property on March 28, after the closing date was extended twice in recent months.