Clark County - File #: 21-1624

• File #: 21-1624
• Status: Agenda Ready
• File created: 11/3/2021
• In control: Clark County Board of Commissioners
• On agenda: 11/16/2021
• Title: Accept the final bid amounts received during the auction of approximately 351.10 acres of Department of Aviation property and the attendant ground leases; approve and authorize the Chair to sign the Resolution of Acceptance and Sale of Real Property for the sale unit; and authorize the Director of Real Property Management or designee to sign any other necessary documents to complete the transaction. (For possible action)

Date	Action By	Action	Result
11/16/2021	Clark County Board of Commissioners	Approved; Agenda note: DISCUSSION: Following introduction of the item, the Board was addressed by Lisa Kremer, Director of Clark County Real Property Management, who advised that the public information, including the financials and appraisals, was available on the Clark County website for six weeks prior to the auction; and further advised that the property sold for $50 million more than the minimum price. In response to Commissioner Kirkpatrick, Lisa Kremer advised that the information which supported the auction was available to the public in the Department of Real Property Management following the auction’s conclusion.	Pass

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

Petitioner:

Lisa Kremer, Director of Real Property Management

Recommendation: 

title

Accept the final bid amounts received during the auction of approximately 351.10 acres of Department of Aviation property and the attendant ground leases; approve and authorize the Chair to sign the Resolution of Acceptance and Sale of Real Property for the sale unit; and authorize the Director of Real Property Management or designee to sign any other necessary documents to complete the transaction. (For possible action)

body

FISCAL IMPACT:

Fund #:	1010.000	Fund Name:	County General Fund
Fund Center:	1120102000-590920	Funded PGM/Grant:	N/A
Amount:	See attached table
Description:	Resolution of Acceptance and Sale of Real Property
Additional Comments:	N/A

BACKGROUND: 

On April 15, 2014, the Board of County Commissioners (Board) directed Real Property Management (RPM) to proceed with the monetization of the majority of the ground leases for possible marketing. On May 19, 2015, the Board adopted a resolution authorizing the Director of RPM to prepare the ground leases for sale. 

On September 21, 2021, the Board approved the Resolution of Intent to Sell Real Property at Public Auction (ROI) for approximately 351.10 acres, along with the 18 attendant ground leases, as a single sale unit. The Notice of Sale was published and posted, and the online auction was conducted on November 2, 2021 according to the procedures set forth in NRS 244.282. The results of the auction, including the list of parcels and ground leases, the projected winning bidder, back-up bidder and respective bid amounts, are listed in the attached table as Exhibit A to this Resolution of Acceptance and Sale of Real Property (ROA) for the Board's consideration. The name of the buyer (or the backup buyer in the event that the winning bidder fails to meet the terms of the ROI) and the purchase price will be added to the ROA for execution by the Chair after acceptance by the Board.

The sale proceeds (amount of the bid for the property that Clark County accepts) for applicable sale units will be distributed under the Southern Nevada Public Land Management Act of 1998 (SNPLMA) as follows: 85% to the Bureau of Land Management, 5% to the State of Nevada, and the remainder to the DOA. All properties are subject to SNPLMA.