The Henderson City Council voted unanimously Tuesday to formalize its intent to sell land to be developed for a new resort.
Approval of the resolution puts the City Council a step closer to finalizing the sale of about 9 acres near St. Rose Parkway and Las Vegas Boulevard South to Marnell Gaming Management LLC.
Marnell and the city will need to work out a development agreement for the hotel-casino before the sale can be finalized, Henderson spokeswoman Kathleen Richards said.
Henderson intends to sell the land for about $4.3 million, records show. The average appraised value of the parcel is about $6.5 million, according to the city.
State law allows the city to sell land below market value for economic development purposes.
Marnell estimates its investment in the project at about $250 million, according to the council agenda item.
Contact Blake Apgar at [email protected] or 702-387-5298. Follow @blakeapgar on Twitter.