Share to Facebook Share to Twitter Bookmark and Share
File #: 22-1070   
Status: Agenda Ready
File created: 7/18/2022 In control: Clark County Board of Commissioners
On agenda: 8/2/2022 Final action:
Title: Approve and authorize the Director of Aviation to sign a Lease Agreement between Clark County and MCM Development I, LLC (James Howard, Authorized Signatory) for the development of ? 5.13 acres of land known as Assessor's Parcel Number 162-35-513-034 generally located at the southwest corner of Russell Road and Eastern Avenue; and ratify the extension of the Master Lease and Option Agreement from June 3, 2022, to August 3, 2022; or take other action as appropriate. (For possible action)
Attachments: 1. Staff Report, 2. Lease Agreement - MCM Development I, LLC

CLARK COUNTY BOARD OF COMMISSIONERS

AGENDA ITEM

 

Petitioner:

Rosemary A. Vassiliadis, Director of Aviation

Recommendation: 

title

Approve and authorize the Director of Aviation to sign a Lease Agreement between Clark County and MCM Development I, LLC (James Howard, Authorized Signatory) for the development of ± 5.13 acres of land known as Assessor's Parcel Number 162-35-513-034 generally located at the southwest corner of Russell Road and Eastern Avenue; and ratify the extension of the Master Lease and Option Agreement from June 3, 2022, to August 3, 2022; or take other action as appropriate. (For possible action)

body

 

 

FISCAL IMPACT:

Fund #:

5201.701

Fund Name:

LAS Unrestricted Operations

Fund Center:

2200400050

Funded PGM/Grant:

N/A

Amount:

County will receive 50% of net revenue

Description:

Lease Agreement

Additional Comments:

N/A

 

BACKGROUND: 

The Clark County Department of Aviation and MCM Development I, LLC (Company) are parties to a Master Lease and Option Agreement (Option Agreement) for the development of ± 54.67 acres of land for commercial facilities. Company entered into a prior lease agreement and developed 46.57 acres of the land known as the McCarran Marketplace shopping center. Pursuant to the Option Agreement, Company has served notice to exercise the option to lease 5.13 acres of the option property (Lease Agreement) to enter into a sublease with Starbucks Coffee. The term of the Lease Agreement is 50 years and Clark County will receive 50% of net revenue as rent.

This Lease Agreement has been approved as to form by the District Attorney's Office