CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
|
Petitioner: |
Denis Cederburg, Director of Public Works |
Recommendation:
title
Approve, adopt and authorize the Chair to sign the Ordinance modifying certain subprojects within Special Improvement District No. 128 (The Summerlin Centre) and approving the Third Amendment to the Agreement for the Design, Financing and Construction of the Summerlin Centre Infrastructure in Clark County, Nevada for Special Improvement District 128 to be executed in connection therewith; as if an emergency exists. (For possible action)
body
FISCAL IMPACT:
|
Fund #: |
N/A |
Fund Name: |
N/A |
|
Fund Center: |
N/A |
Funded PGM/Grant: |
N/A |
|
Amount: |
N/A |
|
Description: |
N/A |
|
Additional Comments: |
N/A |
BACKGROUND:
Pursuant to Ordinance Nos. 2536 and 2562 (collectively, the "Creation Ordinances") adopted by the Board of County Commissioners (the "Board") on December 5, 2000, and February 6, 2001, respectively, Special Improvement District No. 128 (Summerlin Centre) (the "District") was created.
Pursuant to the Creation Ordinances and Ordinance 2566, the Board authorized the levy of assessments and the construction of certain public improvements within the District.
On September 19, 2000, Clark County ("County") entered into an Agreement for the Design, Financing and Construction of the Summerlin Centre Infrastructure in Clark County, Nevada for Special Improvement District 128 (the "Original Financing Agreement") with Howard Hughes Properties, Inc. ("Howard Hughes") relating to the design, construction and financing of certain of such public improvements within the District, as amended by the First Amendment to Agreement for the Design, Financing, and Construction of the Summerlin Centre Infrastructure in Clark County, Nevada for Special Improvement District 128 dated April 3, 2001 (the "First Amendment"), and as amended by the Second Amendment to Agreement for the Design, Financing, and Construction of the Summerlin Centre Infrastructure in Clark County, Nevada for Special Improvement District 128 dated April 5, 2005 (the "Second Amendment," and together with the Original Financing Agreement and First Amendment, the "Financing Agreement").
Howard Hughes has requested that the Subproject Descriptions and Purchase Prices set forth in Exhibit C to the Financing Agreement be amended and modified to reflect the completion of certain subprojects, the elimination of certain projects, and cost revisions to certain other subprojects. NRS 271.6405(2) permits the Board to make changes or additions to a project previously ordered within a special improvement district. The District Attorney's Office has reviewed and approved the Ordinance and Third Amendment as to form.