CLARK COUNTY BOARD OF COMMISSIONERS
AGENDA ITEM
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Petitioner: |
Michael Naft, Clark County Commissioner |
Recommendation:
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Direct County staff to initiate the County's public auction process for property that is encumbered by a Lease Agreement with Nevada Links, Inc.; or direct staff accordingly. (For Possible Action)
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FISCAL IMPACT:
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BACKGROUND:
On July 20, 1999, the Board of County Commissioners (Board) approved the Lease Agreement (Lease Agreement) between Clark County and Nevada Links, Inc. The Agreement was further amended on August 16, 2000, January 15, 2002, and May 21, 2002. On September 6, 2011, the Parties to the Agreement entered into a fourth amendment of the Agreement. Effective September 1, 2022, the County terminated the fourth amendment.
The Lease Agreement consists of three (3) parcels totaling 149.30 acres owned by Clark County. The Lease Agreement is a 99-year ground lease that expires July 19, 2098. The property has been developed pursuant to the Lease Agreement by Nevada Links, Inc., and is currently used for the operation of the Bali Hai Golf Course and existing ancillary uses. Commissioner Naft is requesting that the County initiate the public auction process to sell Assessor Parcel Numbers 162-32-501-006 (approximately 11.41 acres) and 162-32-601-011 (approximately 78.95 acres). The sale would be subject to the existing Lease Agreement. The Lease Agreement also encumbers Assessor Parcel Number 162-32-701-008 (approximately 58.94 acres) which would not be conveyed to a buyer upon a sale or upon termination of the Lease Agreement, but rather a license agreement will be conveyed to the buyer. Clark County will continue to own Assessor Parcel Number 162-32-701-008 in perpetuity.
In accordance with the Board's Rules of Procedure, Commissioner Naft requested this agenda item.