A new innitiative in the small southern Nevada town of Boulder City is creating some waves. Boulder City is quietly located next to Henderson, Nevada. It’s been proposed that the city sell a 107,000 acre piece of land and give the proceeds to Boulder City residents. Depending on the sale amount, this could make every resident of Boulder City millionaires. The potential of easy money made it easy to get the necessary signatures and get the innitiantive on the ballot.
There are two problems. First, over 75% of the land is not developable as it is either preserved as a desert tourtise habitat or reserved for parks and recreation. This undoubtedly effects the value of the land. It makes no sense for a developer to pay top dollar for a piece of land when most if it will not be profitable. Second, in my opinion the residents of Boulder City have no legal right to the proceeds from the sale of this land. I could see the city giving some allowances to the residents in the form of property taxes, but certainly not handing over all the money.
This issue has caused quite a stir. I have talked to a few people who have considered buying a house in that area in hopes of cashing in. While the issue is on the ballot, I cannot see how it will ever come to be. This may become a legal battle the residents of Boulder City have not anticipated.
