CLARK COUNTY REDEVELOPMENT AGENCY
AGENDA ITEM
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Petitioner: |
Shani Coleman, Director of Operations |
Recommendation:
title
Approve the rehabilitation or demolition of 900 Liberace Ave., located on APN#162-10-510-029 which consists of a +/- 1.14 acre developed parcel with four two-story retail/office buildings containing a gross building square footage of 72,500; and authorize the Executive Director or his designee to sign agreements and any other related documents to facilitate and complete the full rehabilitation and restoration or demolition of the site improvements. (For possible action)
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FISCAL IMPACT:
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Fund #: |
2350.000 |
Fund Name: |
N/A |
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Fund Center: |
2000999000 |
Funded PGM/Grant: |
N/A |
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Amount: |
Not to exceed $16,101,726 |
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Description: |
Property rehabilitation or demolition |
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Additional Comments: |
N/A |
BACKGROUND:
In January 2024 the Clark County Redevelopment Agency (RDA) completed the purchase of 900 Liberace Ave. for $6,500,000. The property, built in 1975, has experienced significant deferred maintenance and does not meet Clark County's current building code which has prevented the RDA from leasing space in the building.
Renovation: $16,010,726
Current estimate to bring the building to code includes adding fire suppression systems, new roofing, restroom upgrades, elevator modernization, removal of suspended ceilings, demolition of unpermitted improvements, interior and exterior painting and any other unforeseen code compliance issues.
Demolition: $3,798,525
Current estimate to demolish all four buildings includes any needed repairs to adjacent property and rebuilding of fire stair access for adjacent property.