CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Rosemary A. Vassiliadis, Director of Aviation |
Recommendation:
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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)
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FISCAL IMPACT:
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Fund #: |
5202.731 |
Fund Name: |
Airport Capital Fund |
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Fund Center: |
2200400070 |
Funded PGM/Grant: |
Eligible for FAA grant funding |
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Amount: |
Total acquisition costs not to exceed $55,016,000.00 |
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Description: |
Voluntary Property Acquisition |
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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.