File #: 23-1505   
Status: Agenda Ready
File created: 10/25/2023 In control: Clark County Board of Commissioners
On agenda: 11/7/2023 Final action:
Title: Approve and authorize the Director of Aviation to sign the Concession Lease Agreement between Clark County and The Change Group New York, Inc. d.b.a. Prosegur Cash (Sebastian Sanchez, Chief Executive Officer) for the operation of a foreign currency exchange concession at Harry Reid International Airport; or take other action as appropriate. (For possible action)
Attachments: 1. Staff Report, 2. The Change Group New York Inc. Concession Lease Agreement

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

 

Petitioner:

Rosemary A. Vassiliadis, Director of Aviation

Recommendation: 

title

Approve and authorize the Director of Aviation to sign the Concession Lease Agreement between Clark County and The Change Group New York, Inc. d.b.a. Prosegur Cash (Sebastian Sanchez, Chief Executive Officer) for the operation of a foreign currency exchange concession at Harry Reid International Airport; or take other action as appropriate.  (For possible action)

body

 

 

FISCAL IMPACT:

Fund #:

5201.701

Fund Name:

LAS Unrestricted Operations

Fund Center:

2200400050

Funded PGM/Grant:

N/A

Amount:

County will receive .3% or .5% of gross revenue for exchanges or 8% of gross revenue for other services.

Description:

Concession Lease Agreement

Additional Comments:

N/A

 

BACKGROUND: 

The Clark County Department of Aviation and The Change Group New York Inc. d.b.a Prosegur Cash (Company) will enter into a Concession Lease Agreement (Agreement) for the operation of a foreign currency exchange passenger service concession at Harry Reid International Airport.

The pertinent provisions of the Agreement are as follows:
     • Term shall be for a period of 5 years with two (2) one-year renewal options.
     • Company will construct a brand-new unit in Terminal 1 and renovate the existing units at Terminal 3.
     • Commencing 180 days from the Beneficial Occupancy Date, Company will pay monthly rent equal to:
             o Three tenth's percent (.3%) of Gross Revenues for exchanges up to $4,000,000.00 annually
             o Five tenth's percent (.5%) of Gross Revenues for exchanges above $4,000,000.00 annually                     
             o Eight percent (8%) of Gross Revenues for other services

The Agreement has been approved as to form by the District Attorney's Office. Advertising, in accordance with NRS 496.090, has been completed. Company will obtain a Clark County Business License prior to commencing operations.