CLARK COUNTY REDEVELOPMENT AGENCY
AGENDA ITEM
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Petitioner: |
Shani Coleman, Director of Operations |
Recommendation:
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Approve and authorize the Clark County Redevelopment Agency Director of Operations and/or her designee to sign a contract with Gatski Commercial Real Estate Services for property management services with an annual operating budget of $251,000 annually for 900 Liberace Ave Las Vegas, NV 89109 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. (For possible action)
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FISCAL IMPACT:
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Fund #: |
N/A |
Fund Name: |
N/A |
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Fund Center: |
N/A |
Funded PGM/Grant: |
N/A |
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Amount: |
$251,000 annually |
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Description: |
Property Management Services Contract |
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Additional Comments: |
N/A |
BACKGROUND:
On October 4, 2023, the Clark County Redevelopment Agency (RDA) submitted a conditional offer to purchase 900 Liberace Ave, Las Vegas NV 89109, 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 (Property).
Gatski Commercial Real Estate Services is the existing property management company and currently has been providing tenant/lease management services with a $251,000 annual budget which includes the following scope of services; a dedicated property manager, collect all rents and fees due, maintain building equipment and common areas, make contracts to secure utility and professional services, investigate any incidents or accidents, employ all necessary employees to manage the property, provide 24 hour emergency call services, maintain all property accounting, prepare annual budget and monthly reports. Due to limited staffing the RDA requires the continued services of the existing property management team.
Annual budget will be funded through the property's operational trust account which is funded by the property's rental revenue.
This item was presented to the County's Long Range Planning Committee on November 9, 2023.