As long time members of the Las Vegas community we have a vested interest in supporting responsible growth and development in the valley. To that end, we have watched over the years with great interest the developing story of potential new stadiums. While we too believe that Las Vegas is well positioned to attract professional sports... more
Majestic proposes to develop an approximately 150 acre mixed-use project on the UNLV campus with development rights conveyed through a participating ground lease agreement (“PGL”) between Majestic and UNLV. Through this is a public/private arrangement, Majestic would lease the land from UNLV and provide its expertise in developing and executing the shared vision of... more
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A major step was taken on February 11th when the Board of Regents listened to and subsequently approved the Majestic proposal to pursue this vision. The approval of the Preliminary Assessment Agreement proposed by Majestic includes the exclusive rights for Majestic to pursue among other things the creation of a University Enterprise District encompassing the campus of UNLV. As proposed this district if approved by the state legislature, would allow for all incremental tax revenues generated by future development on the campus to be retained by UNLV to help offset the cost of providing the new campus amenities not only for the Majestic project but others such as Mid Town as well. Majestic has begun the process of drafting the proposed Bill and intends to have the legislature consider its adoption by the end of February. It is critical to this project that this Bill is passed as proposed and as quickly as possible so that progress can continue on this landmark project. The legislative session is set to end on June 17, 2011.Majestic has also begun formulating it communications plan to the students, faculty, staff and alumni with all forms of media will being deployed to allow the most up to date information to concerned supporters. Upcoming meetings include those with the student body president, the president of the football foundation and the president of the Alumni Association. If you are a member of an organization or group that would like to meet with the UNLV Now team, please contact us. Stay tuned for weekly updates! more |
