Twenty-one city of Las Vegas employees have accepted voluntary buyouts to help offset the cost of settling pending litigation with the would-be developer of the defunct Badlands golf course.
The staffers agreed to retire, and their positions will remain frozen at least through fiscal year 2027, the city said.
The city released specifics Tuesday about how it plans to pay a $286 million settlement that would lead to the dismissal of three remaining lawsuits filed by EHB Cos. after CEO Yohan Lowie bought the golf course in 2015.
As early as Wednesday, the City Council could approve a new housing development proposed by Lennar Homes for the land.
The city’s Planning Commission unanimously approved the project in January over the objections of residents of the Queensridge community adjacent to the golf course.
Under a nonbinding agreement, the city would pay EHB $636 million for the property. Lennar would then buy the land from the city for $350 million, and EHB would keep the remaining $286 million and end its lawsuits.
The deal is expected to close next month.
Paying the price
Nearly $113 million would come from the city’s general fund reserves and operational cost savings; $87.5 million from liability fund and internal service fund reserves; $49.7 million from delayed capital improvement projects or bonds, and $36 million from the sale of Cashman Field, according to the city.
Under the proposed settlement, the city would pay EHB $250 million between March 20 and May 20, and the remaining $36 million before July 2, 2026, the city said.
The frozen positions include two traffic systems technicians, an architectural designer, a budget analyst and two administrative support assistants, according to the city.
The city is still exploring how to structure the $49.7 million savings from delayed capital improvement projects and will later decide if it’s using bonds or a combination of both.
Last year, the city paid $64 million to resolve a fourth lawsuit.
The suits alleged that the city essentially “took” Lowie’s land by not allowing him to build his own expansive housing project. Multiple judges, including the Nevada Supreme Court, sided with the developer.
Las Vegas officials told Nevada legislators earlier this month that the city is not planning layoffs to offset the settlement cost.
Lennar Homes is planning to build 1,480 upscale homes on the 250 acres. The proposal was endorsed by EHB, which signed the land-use-entitlements applications on Lennar’s behalf.
City officials have said the continuing the legal battle with EHB could have cost city taxpayers upward of $450 million.
Contact Ricardo Torres-Cortez at rtorres@reviewjournal.com.