CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Lisa Kremer, Deputy County Manager Dagny Stapleton, Community Housing Adminstrator |
Recommendation:
title
Approve and authorize the County Manager to sign the Development, Disposition and Funding Agreement between Clark County and Microbusiness Housing, LLC (Member and Guarantor: Brinshore Development, LLC), to allocate funding and land for an affordable housing development at the North side of West Lake Mead Boulevard near Englestad Street, North Las Vegas; and sign a Declaration of Restrictive Covenants ensuring the development will stay affordable; and authorize the Director of Real Property Management to sign any other documents necessary to complete the transaction. (For possible action)
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FISCAL IMPACT:
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Fund #: |
2770 |
Fund Name: |
Community Housing Fund |
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Fund Center: |
1270111770 |
Funded PGM/Grant: |
N/A |
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Amount: |
Up to $11,000,000 |
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Description: |
State of Nevada ARPA Grant (MMNI) |
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Additional Comments: |
N/A |
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Fund #: |
2970 |
Fund Name: |
Human Services and Education Sales Tax Fund |
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Fund Center: |
1270111770 |
Funded PGM/Grant: |
N/A |
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Amount: |
Up to $15,000,000 |
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Description: |
Human Services and Education Sales Tax Funds for development of the Microbusiness Project |
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Additional Comments: |
N/A |
BACKGROUND:
In response to the unprecedented crisis in housing affordability and availability in Southern Nevada, the Board of County Commissioners (Board) has taken significant steps to subsidize and incentivize the development of low- to moderate- income housing. As a part of these efforts, on June 20, 2023, the Board selected Brinshore Development, LLC (Brinshore) as the developer of affordable housing on a portion of County-owned land known as Assessor's Parcel Number 139-22-201-005 located at the North side of West Lake Mead Boulevard near Englestad Street, North Las Vegas (Property).
Staff have drafted a Development, Disposition and Funding Agreement (DDFA) detailing the requirements of Brinshore. As part of this DDFA Brinshore will be awarded eleven million dollars ($11,000,000) in ARPA funds awarded to the County from the State of Nevada for the development of affordable housing, along with up to fifteen million dollars ($15,000,000) in County Human Services and Education Sales Tax Funds, and the Property will be deeded to Brinshore. The project will be for the development of seventy-six (76) units serving families at 50% to 80% of Area Median Income (AMI) and will be adjacent to the County's Microbusiness Park project.
Staff recommends approval.