CLARK COUNTY REDEVELOPMENT AGENCY
AGENDA ITEM
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Petitioner: |
Kevin Schiller, Executive Director |
Recommendation:
title
Approve and authorize the allocation of $10,000,000 for the redevelopment and activation of 800 Liberace Ave (APN 162-10-510-030) located within Commercial Center. (Also sitting as the Clark County Redevelopment Agency) (For possible action)
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FISCAL IMPACT:
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Fund #: |
2350.00 |
Fund Name: |
N/A |
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Fund Center: |
2000999000 |
Funded PGM/Grant: |
N/A |
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Amount: |
Not to Exceed $10,000,000 |
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Description: |
800 Liberace Ave. |
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Additional Comments: |
N/A |
BACKGROUND:
May 21, 2025, the Clark County Redevelopment Agency (CCRDA) received visioning and redevelopment plan for Commercial Center. The plan called for the activation of the southwest quadrant of Commercial Center as a place for entertainment, arts and culture. In moving the vision forward, CCRDA has been working with the tenant of 800 Liberace Ave., Insomniac, on activation of the building as a live music and special events venue.
To help bring the project to life, CCRDA is allocating $10,000,000 to be used for a future property purchase and building rehabilitation at the direction of the CCRDA Board. Distribution of all or part of the $10,000,000 allocation would only occur following CCRDA Board approval of a formal agreement between Insomniac and CCRDA outlining specific redevelopment activities and qualifying expenses for reimbursement.