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On agenda:
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11/2/2021
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Final action:
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Title:
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Approve and authorize the purchase of 1280 West Cheyenne Avenue, North Las Vegas, NV 89030 located near the northeast corner of North Martin Luther King Boulevard and Cheyenne Avenue (APN 139-09-801-010) which is a ?72,475 square foot, two (2) story office/warehouse building on ?4.41 acres of fully developed land for the Fire Department's FEMA Program and the Elections Department; fund the purchase price of $11,850,000, $25,000 for closing costs, $2,500 for attorney fees to amend the CC&Rs, $10,500,000 for Phase I & II tenant improvements and $700,000 for the Elections Warehouse tenant improvements for mail ballot & tabulation; ratify the appraisal dated September 21, 2021 by Anderson Valuation Group, LLC.; and authorize the Director of Real Property Management or her designee to sign escrow documents and any other related documents to complete the transaction and related tenant improvements. (For possible action)
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CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Lisa Kremer, Director of Real Property Management |
Recommendation:
title
Approve and authorize the purchase of 1280 West Cheyenne Avenue, North Las Vegas, NV 89030 located near the northeast corner of North Martin Luther King Boulevard and Cheyenne Avenue (APN 139-09-801-010) which is a ±72,475 square foot, two (2) story office/warehouse building on ±4.41 acres of fully developed land for the Fire Department's FEMA Program and the Elections Department; fund the purchase price of $11,850,000, $25,000 for closing costs, $2,500 for attorney fees to amend the CC&Rs, $10,500,000 for Phase I & II tenant improvements and $700,000 for the Elections Warehouse tenant improvements for mail ballot & tabulation; ratify the appraisal dated September 21, 2021 by Anderson Valuation Group, LLC.; and authorize the Director of Real Property Management or her designee to sign escrow documents and any other related documents to complete the transaction and related tenant improvements. (For possible action)
body
FISCAL IMPACT:
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Fund #: |
F4370.000/F4370.002/F4300.000 |
Fund Name: |
County Capital Funds/Fire Service Capital |
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Fund Center: |
1120820001 |
Funded PGM/Grant: |
N/A |
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Amount: |
$23,077,500 |
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Description: |
Acquisition and Tenant Improvements |
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Additional Comments: |
N/A |
BACKGROUND:
On June 10, 2021, Clark County (County) submitted an offer to purchase 1280 West Cheyenne Avenue, North Las Vegas, NV 89030 located near the northeast corner of North Martin Luther King Boulevard and Cheyenne Avenue (APN 139-09-801-010) which is a ±72,475 square foot office/warehouse building on ±4.41 acres of fully developed land.
This acquisition will eliminate the need for the Fire Department to lease a facility for the FEMA Program and provide the Elections Department with flexibility to move their training and recruitment divisons allowing for additional space within the Elections Warehouse for mail ballot and tabulation areas.
The County's Department of Real Property Management has completed due diligence inspections, appraisal, ALTA survey and tenant improvement estimates. County and Seller to each pay their normal closing costs at the time of escrow closing.
This item was presented to the County's Long Range Planning Committee on October 14, 2021.
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