The Las Vegas City Council on Wednesday authorized spending $7.9 million to purchase 14 parcels across from City Hall in a “strategic acquisition” that sets the stage for future redevelopment.
Policymakers signed off on the deal to buy roughly 2.04 acres from three ownership groups on the northeast block of Main Street and Bonneville Avenue. It aligns with city efforts to package together clusters of multiple-owner parcels to ready for new development, said Bill Arent, who oversees city economic and urban development.
“We think this is a really important strategic acquisition for the city, given its proximity to City Hall and everything that’s happening downtown,” Arent told the council.
It wasn’t immediately clear what plans the city might have for the property beyond “to redevelop vacant land for potential open space, green space and mixed-use development space,” as noted in the city staff report.
The property, which must close escrow by April 15, will be assigned to City Parkway V, Inc., an affiliate nonprofit of the city that acts as a holding company for real estate assets for redevelopment and economic development purposes.
The purchase, slightly below a city appraisal, will be funded through the city’s general capital projects fund and will not impact any ongoing city operations or future plans for capital improvement projects, Arent said.
It will require a $300,000 earnest deposit.
Youth projects get lift
Forty-six community-oriented projects will receive $45,000 in total funding following recommendations by the Youth Neighborhood Association Partnership Program’s grant review board.
The projects, approved by the council Wednesday, will provide over $237,832 in volunteer hours, in-kind donations and/or financial contributions, officials said.
The slate includes 26 community service projects, 16 community education projects and four community improvement projects including restoration of neighborhood, school and community center areas through murals, gardens and cleanups.
Law enforcement union contract
A five-year contract between the city and the Las Vegas Peace Officers Supervisors Association is likely to come before the council in two weeks, officials said, after the council on Wednesday received a report on a fact-finder’s recommendations.
The two sides have been trying to negotiate a first labor agreement for more than two years, but ultimately kicked the matter to arbitration.
The report centered around a series of issues in dispute including compensation, hours of work, holidays, sick leave and discharge, disciplinary and grievance procedures. Ultimately, awards provided will cost the city $576,000 over the five-year life of the pending contract.