CLARK COUNTY REDEVELOPMENT AGENCY
AGENDA ITEM
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Petitioner: |
Shani Coleman, Director of Operations |
Recommendation:
title
Approve the purchase of six (6) adjacent and contiguous parcels consisting of partially developed and vacant land comprising a total of +/-0.93 acres (Asessor's Parcel Numbers 161-27-311-002 to 006, and 161-27-302-001.; fund the purchase price of $440,000, and $10,000 for closing costs; ratify the appraisal performed by Integra Realty Resources, Inc.; and Authorize the Director of Operations to sign escrow documents and any other related documents to complete the transaction. (Sitting as the Clark County Redevelopment Agency) (For possible action)
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FISCAL IMPACT:
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Fund #: |
2350.000 |
Fund Name: |
RP. G0226068 |
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Fund Center: |
1120820001 |
Funded PGM/Grant: |
N/A |
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Amount: |
$440,000 purchase price plus $10,000 closing costs |
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Description: |
Property Acquisition |
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Additional Comments: |
N/A |
BACKGROUND:
On November 3, 2025, the Clark County Redevelopment Agency (RDA) submitted a Second Conditional Offer to Purchase six (6) adjacent and contiguous parcels consisting of partially developed and vacant land comprising a total of +/-0.93 acres (Asessor's Parcel Numbers 161-27-311-002 to 006, and 161-27-302-001. Escrow opened on November 3, 2025.
Subsequently, Amendments I, II, III & IV have been executed to extend due diligence, close of escrow and reduce the purchase price. The Clark County Department of Real Property Management has completed due diligence inspections, appraisal and ALTA survey. RDA and seller shall each pay their normal closing costs at the time of escrow closing.
The RDA intends to hold the property for future redevelopment opportunities.
This item was presented to the County's Long Range Planning Committee on June 10, 2026.