According to sources within the LVMS corporation, the state has not seen a formal declaration as of February 2013, nor has a formal plan been submitted just yet. Environmental groups have already staked a claim to the state owned land stating that there are "rare species that need to be protected". With that said, things are moving forward, just extremely slowly. Rumor had it that Toyota was going to play a roll in the development, but nothing that has been confirmed.
Bill S.
PS: I do have some friendly connections with the folks out in that area who are involved in racing