Wednesday, Feb. 13, 2013 | 2:01 a.m.
In regard to developer Chris Milam, who sold his idea of a stadium/arena on 480 acres to Henderson city officials, and his attempt to purchase the land from the Bureau of Land Management for $10.5 million — a steal of a price:
It is alleged that Milam had no intentions of keeping his part of the bargain from the start. The price of $22,000 per acre is low compared with other properties nearby selling at $500,000 per acre.
Henderson officials say they are not trying to block the sale of the land from the BLM to Milam. They say their only interest is that the land should be used only for a stadium/arena.
If Milam is allowed to complete the purchase with these conditions, what would stop him from selling it to someone else at a huge profit for himself with the new buyer agreeing to conditions laid out by Henderson officials for a stadium/arena on the land?
If it is proved that Milam engaged in fraud, the land sale should not take place. At these low prices, most land developers would jump at such a deal and probably offer more.
Sam Pizzo, Henderson