CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
|
Petitioner: |
Shauna Bradley, Director of Real Property Management |
Recommendation:
title
Approve and authorize the Chair to sign the Amended Agreement between the Mountain's Edge Master Association (MEMA) and Clark County to allow MEMA to utilize Residential Construction Tax Funds and developer contributions to add improvements and/or amenities to existing Parks within the Mountain's Edge Community; and authorize the Director of Real Property Management to manage the Amended Agreement and sign any other documents necessary to manage the Amended Agreement. (For possible action)
body
FISCAL IMPACT:
|
Fund #: |
4110.000 |
Fund Name: |
Residential Construction Tax |
|
Fund Center: |
1280110100 |
Funded PGM/Grant: |
N/A |
|
Amount: |
$1,350,162.77 |
|
Description: |
N/A |
|
Additional Comments: |
N/A |
BACKGROUND:
On December 18, 2002, Clark County (County) entered into a Development Agreement with Mountains Edge LLC (Developer) as amended on August 19, 2004, December 20, 2006 and February 6, 2007 (collectively the “Development Agreement”) which, among other terms, provided for certain parks to be built using developer contributions and residential construction taxes collected from building permits issued for residential construction within the Mountains Edge community.
On January 19, 2022, the Development Agreement was cancelled, and the Developer was released of its obligation to build out Helen Stewart Park.
On February 28, 2022, the County entered into an agreement with Mountain's Edge Master Association (MEMA) to allow MEMA to utilize the existing funds to build out Helen Stewart Park (Funding Agreement).
It has become evident that the amount of funds, which total ±$1,350,162.77 are insufficient for these purposes and the parties desire to amend the Funding Agreement to allow MEMA to utilize the funds to add amenities to any parks within the Mountains Edge community.
This item was presented to County Long Range Planning Committee on September 25, 2024.