CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Denis Cederburg, Director of Public Works |
Recommendation:
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Approve and authorize the Chair to sign the Consent and Assignment of Revocable License and Maintenance Agreements and Assumption among Clark County, FX Luxury Las Vegas I, LLC (Assignor) and SG Vegas Owner, LLC (Assignee), assigning all rights and obligations of FX Luxury Las Vegas I, LLC to SG Vegas Owner, LLC for non-standard improvements within the County's right-of-way (Assessor's Parcel Numbers 162-21-301-009, 162-21-301-016, 162-21-301-018 and 162-21-301-019). (For possible action)
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FISCAL IMPACT:
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Additional Comments: |
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BACKGROUND:
On August 2, 2005, Clark County and FX Luxury Las Vegas I, LLC (formerly Metroflag Polo, LLC) entered into a revocable license and maintenance agreement for non-standard improvements within the right-of-way owned by the County. On July 20, 2016, Clark County and FX Luxury Las Vegas I LLC, entered into a second revocable license agreement for non-standard improvements within the right-of-way owned by the County. On June 28, 2019, a Grant Bargain and Sale Deed recorded in the Clark County Recorder's Office transferred ownership of Assessor's Parcel Numbers 162-21-301-009, 162-21-301-016, 162-21-301-018, and 162-21-301-019 from FX Luxury Las Vegas I, LLC to SG Vegas Owner, LLC. The revocable license and maintenance agreements do not allow for an assignment without written consent of the County.
As of the effective date of the Consent and Assignment of Revocable License and Maintenance Agreements and Assumption, Assignor hereby assigns and transfers to Assignee, and Assignee hereby assumes and accepts, all of the Assignors' right and obligations under the revocable license and maintenance agreements arising from and after the effective date.
The District Attorney's Office has reviewed and approved the Consent and Assignment of Revocable License and Maintenance Agreements and Assumption as to form.