CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Denis Cederburg, Director of Public Works |
Recommendation:
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Approve and authorize a proposed settlement in the amount of $1,101,600 for a partial acquisition of Assessor’s Parcel Number 162-21-801-001 (Adele F. Josephs et al.) needed for improvements on Tompkins Avenue between Koval Lane and Paradise Road; and authorize the County Manager or his designee to sign future escrow instructions and any pertinent documents necessary to complete the acquisition process. (For possible action)
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FISCAL IMPACT:
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Fund #: |
4180.006 |
Fund Name: |
Transportation Improvement Bonds |
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Fund Center: |
1260110001 |
Funded PGM/Grant: |
PW.S190107 |
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Amount: |
$1,107,000 (includes title and escrow fees) |
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Description: |
Tompkins; Koval to Paradise |
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Additional Comments: |
N/A |
BACKGROUND:
On May 21, 2019, the Board of County Commissioners approved and authorized the acquisition by negotiation of Assessor's Parcel Number 162-21-801-001 (Adele F. Josephs et al.) needed for improvements on Tompkins Avenue between Koval Lane and Paradise Road. Appraisal dated April 4, 2022, prepared for the County reflected an amount of $597,121 which was the County's offer to purchase. The property owners rejected the offer and over the past two years extensive negotiations have occurred during which time land values increased. The property owner's counteroffer was $1,591,040.88.
Upon extensive negotiations amongst Clark County Public Works staff, Deputy District Attorney, property owners and the opposing attorney, a proposed settlement has been reached in the amount of $1,101,600. Said amount includes a Temporary Construction Easement. Acceptance of the settlement will avert costs associated with litigation, potential interest payment and a possible judgement in excess of the settlement. Therefore, staff believes that the proposed settlement is reasonable, justified and in the best interest of the County.
Authorization to approve and authorize the proposed settlement is now being sought from the Board.