University Medical Center of Southern Nevada
Board of Hospital Trustees
AGENDA ITEM
Petitioner:
Mason Van Houweling, Chief Executive Officer
Recommendation:
title
Approve the Lease Agreement by and between Nevada Health & Bioscience Asset Corp. and University Medical Center of Southern Nevada; or take action as deemed appropriate. (For possible action)
body
FISCAL IMPACT:
Fund #:
5420.000
Fund Name:
UMC Operating Fund
Fund Center:
3000707000
Funded PGM/Grant:
N/A
Amount:
First year monthly rent of $36,439.37 with 3% annual increases after the first year; $36,439.67 security deposit; O&M Charges not to exceed $400,000 for the first year with an annual cap of 6%; variable utility charges
Description:
Lease Agreement
Additional Comments:
10 years with two (2) option periods of ten (10) years Budget Act and Fiscal Fund Out
BACKGROUND:
This request is to approve a new Lease Agreement with Nevada Health & Bioscience Asset Corp. for approximately 19,600 sq. ft. of a two-story building to house a medical and blood services center. This lease will allow UMC to expand its laboratory services and free up space in the hospital's main facility for other services. The Lease Term is effective for ten (10) years as of the Lease Commencement Date, with the option to renew for two (2)-ten (10) year periods. UMC’s Chief Operating Officer has reviewed and recommends approval of this Lease Agreement, which has been approved as to form by UMC’s Office of General Counsel.This Lease Agreement was reviewed by the UMC Governing Board at its March 25, 2026, meeting and recommended for approval by the Board of Hospital Trustees.