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File #: 21-1508   
Status: Agenda Ready
File created: 10/6/2021 In control: Clark County Board of Commissioners
On agenda: 10/19/2021 Final action:
Title: Approve and authorize the Director of Aviation or her designee to sign the purchase and sale agreement, escrow instructions and related ministerial documents required to complete the acquisition process for Assessor's parcel numbers 162-28-401-001, -002, -004, and -019 located on the southeast corner of Las Vegas Boulevard and Four Seasons Drive; or take other action as appropriate. (For possible action)
Attachments: 1. Staff Report, 2. Voluntary Acquisition of 162-28-401-001, 002, 004, 019.pdf
Date Action ByActionResultAction DetailsMeeting DetailsVideo/Audio
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CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

 

Petitioner:

Rosemary A. Vassiliadis, Director of Aviation

Recommendation: 

title

Approve and authorize the Director of Aviation or her designee to sign the purchase and sale agreement, escrow instructions and related ministerial documents required to complete the acquisition process for Assessor's parcel numbers 162-28-401-001, -002, -004, and -019 located on the southeast corner of Las Vegas Boulevard and Four Seasons Drive; or take other action as appropriate. (For possible action)

body

 

 

FISCAL IMPACT:

Fund #:

5202.731

Fund Name:

Airport Capital Fund

Fund Center:

2200400070

Funded PGM/Grant:

Eligible for FAA grant funding

Amount:

Total acquisition costs not to exceed $55,016,000.00

Description:

Voluntary Property Acquisition

Additional Comments:

Eligible for FAA grant funding to cover 75% of the appraised acquisition.

 

BACKGROUND: 

The Clark County Department of Aviation's (DOA) offer to purchase Assessor's parcel numbers 162-28-401-001, -002, -004, and -019 for $55,000,000.00 under a voluntary acquisition (willing buyer/willing seller) has been accepted by the property owner.  Escrow closing costs are estimated not to exceed $16,000.00, bringing the DOA's total acquisition cost to $55,016,000.00.

This process was conducted in accordance with the federal requirements to be eligible for reimbursement by the FAA to cover up to 75 percent of this acquisition through a future grant.