File #: 24-1551   
Status: Passed
File created: 11/7/2024 In control: Clark County Board of Commissioners
On agenda: 11/19/2024 Final action: 11/19/2024
Title: Allocate Residential Construction Tax Funds from Mountain's Edge Sub Fund (2110.018) in the amount of $318,320.77 for Mountain's Edge Park Improvements and reallocate $130,000 from the Mountain's Edge Neighborhood Park Improvements project (RP.F0424081) and Developer Contributions of $901,842 from the Mountain's Edge Regional Recreation Center (RP.D0406078); and authorize a transfer from Fund (2110.018) to the Recreation Capital Improvement Fund (4110.000). (For possible action)
Attachments: 1. Staff Report

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

 

Petitioner:

Jessica L. Colvin, Chief Financial Officer  

Recommendation: 

title

Allocate Residential Construction Tax Funds from Mountain's Edge Sub Fund (2110.018) in the amount of $318,320.77 for Mountain's Edge Park Improvements and reallocate $130,000 from the Mountain's Edge Neighborhood Park Improvements project (RP.F0424081) and Developer Contributions of $901,842 from the Mountain's Edge Regional Recreation Center (RP.D0406078); and authorize a transfer from Fund (2110.018) to the Recreation Capital Improvement Fund (4110.000). (For possible action)

body

 

 

FISCAL IMPACT:

Fund #:

2110.018

Fund Name:

Residential Construction Tax

Fund Center:

1280110100

Funded PGM/Grant:

N/A

Amount:

$1,350,162.77

Description:

Mountain's Edge Developer Agreement

Additional Comments:

Transfer appropriations from the Mountain's Edge subfund within the Residential Construction Tax Fund (2110.018) to the Recreation Capital Improvement Fund for Mountain's Edge Park Improvements and reallocate $130,000 from the Mountain's Edge Neighborhood Park Improvements project (RP.F0424081) and Developer Contributions of $901,842 from the Mountain's Edge Regional Recreation Center (RP.D0406078).

 

BACKGROUND: 

Pursuant to NRS 278.4983, Residential Construction Tax (RCT) funds may be used for the acquisition, improvement and expansion of neighborhood parks or the installation of facilities in existing parks in the city or county.  Money collected in the fund must be expended for the benefit of the neighborhood from which it was collected.