City of Reno
Nevada

Resolution
221

Staff Report (For Possible Action): Resolution No. ________ Resolution of Agency Board of the Redevelopment Agency of the City of Reno to convey certain real property located at 10 South Lake Street, Reno, Nevada to The Harrah Automobile Foundation, a Nevada non-profit corporation pursuant to NRS 279.472.

Information

Department:Public Works - Property ManagementSponsors:
Category:Resolution

Recommendation and Proposed Motion

Recommendation:  Staff recommends Council adopt Resolution No. ________ and authorize the Chairman to execute the Purchase and Sale Agreement and all related transaction and closing documents consistent herewith and which are approved in form by the City Attorney’s Office.

 

Proposed Motion: I move to adopt Resolution No. ________.

Staff Report Formal Body

Summary: The Agency is asked to adopt a Resolution to convey the real property located at 10 South Lake Street, Reno, Nevada to The Harrah Automobile Foundation, a Nevada non-profit corporation pursuant to NRS 279.472. Staff recommends that Agency Board direct the property be conveyed to The Harrah Automobile Foundation.

 

Previous Council Action: 

May 23, 1988 – Agency Board approved a lease of Redevelopment Agency property to Harrah’s Automobile Foundation. 

 

February 27, 1996 – Agency Board approved a new Lease Agreement between the Automobile Museum Foundation and the Redevelopment Agency.

 

July 16, 2014 – City Council approved the request to prepare the necessary documents to convey the real property located at 10 South Lake Street without consideration to National Automobile Museum.

 

Background:  The Harrah Automobile Foundation was founded in 1989 when they opened the National Automobile Museum solely for educational purposes with generous donations from the Redevelopment Agency of the City of Reno, the State of Nevada, and many individuals and organization.  The mission of the Museum is to collect and preserve the automobile for future generations, with an emphasis on vehicles collected by William Fisk “Bill” Harrah, to tell the story of the impact of the automobile on American society, and to perpetuate the legacy of Mr. Harrah as a renowned collector.  The Museum is dedicated to offering entertaining and educational experiences through special programs, exhibits, events and stories about the collections.  

 

Discussion:  Currently the Museum is leasing the ground at 10 South Lake Street under a Lease Agreement from the Agency for $1 per year so long as the property is used as a Museum to house the William Fisk “Bill” Harrah auto collection.  The Museum has paid $3.2M toward the cost of the Premises and now would like to expand the Premises on the adjacent property the Museum has recently acquired.  Conveying the property to the Museum will allow them the control to move forward with that plan once the funds have been raised to expand the premises.  The Museum may not discontinue or transfer ownership of the property in any way within the first fifteen years from the close of escrow without the Agency approval.

 

Financial Implications:  There will be no impact to the Agency related to the costs of conveying the real property located at 10 South Lake Street.

 

Legal Implications:  Under NRS 279.472 of the Community Redevelopment Laws, the Agency is authorized to convey land without public bidding, but only after a public hearing is conducted.

Ordinance or Resolution

RESOLUTION OF AGENCY BOARD OF THE REDEVELOPEMNT AGENCY OF THE CITY OF RENO TO CONVEY THAT CERTAIN REAL PROPERTY LOCATED AT 10 SOUTH LAKE STREET, RENO, NEVADA TO THE HARRAH AUTOMOBILE FOUNDATION, A NEVADA NON-PROFIT CORPORATION PURSUANT TO NRS 279.472.

 

WHEREAS, the Redevelopment Agency of the City of Reno (the “Agency”) is charged with implementing the Redevelopment Plans pursuant to Nevada Community Redevelopment Law, Nevada Revised Statutes 279.382 et seq. (the ”Community Redevelopment Law”) and is authorized to engage in redevelopment activities that alleviate blighting conditions within the Project Areas; and

WHEREAS, the Redevelopment Agency of the City of Reno (the “Agency”) is the owner of that certain real property located at 10 South Lake Street, Reno, Nevada, more particularly described as Assessor Parcel Number 011-124-23, hereinafter the “Property”; and

              WHEREAS, The Harrah Automobile Foundation (“Museum”), is a Nevada non-profit corporation recognized as tax exempt under section 501(c)(3) of the Internal Revenue Code; and

              WHEREAS, the mission of the Museum is to collect and preserve the automobile for future generations, with an emphasis on vehicles collected by William Fisk “Bill” Harrah, to tell the story of the impact of the automobile on American Society, and to perpetuate the legacy of Mr. Harrah as a renowned collector; and

              WHEREAS, the Museum offers entertaining and educational experiences through special programs, exhibits, events and stories about our collections; and

              WHEREAS, with generous donations from the City of Reno Redevelopment Agency, the State of Nevada, and many individuals and organizations, this Museum opened on November 5, 1989; and

WHEREAS, the Agency and Museum entered into that certain Lease Agreement dated February 27, 1996; and,

WHEREAS, pursuant to NRS 279.472 of the Community Redevelopment Law, the Agency is authorized to convey land without public bidding, but only after a public hearing is conducted; and 

WHEREAS, the Agency Board directs that the Property be conveyed to Museum pursuant to NRS 279.472 and the Purchase and Sale Agreement set forth in Exhibit A (the “Agreement”).

NOW THEREFORE be it hereby resolved by the Redevelopment Agency of the City of Reno Board as follows:

Section 1. The Agency Board hereby finds that the foregoing recitals are true and correct and are incorporated by reference.

Section 2. the Agency Board directs that the Property be conveyed to the Museum without public bidding after a public hearing is conducted in accordance with NRS 279.472.

Section 3.  The Agency Board hereby approves the Agreement set forth in Exhibit A, and the Chairman is authorized and directed to execute the Agreement on behalf of the Agency.

Section 4.  The Executive Director is hereby authorized and directed to make revisions to the Agreement, approved by the City Attorney, which do not materially or substantially increase the Agency’s obligations thereunder, and to take all actions necessary or appropriate to carry out and implement the Agreement and administer the Agency’s obligations, responsibilities and duties to be performed under the Agreement and the documents herein approved and authorized to be executed.

Section 5.  The Agency Secretary is hereby authorized and directed to attest the signature of the Chairman as may be required in connection with the execution and delivery of the Agreement in accordance with this Resolution.  The members, officers, and agents of the Agency are hereby authorized and directed, jointly and severally, to do any and all things and to execute and deliver the Agreement and otherwise to carry out, give effect to, and comply with the terms and intent of this Resolution and the documents herein approved and authorized to be executed.

 

///

 

///

 

///

 

///


Section 6.  This resolution shall take effect immediately upon its passage.

 

Upon motion by Councilmember                                , and seconded by Councilmember

                               , the foregoing Resolution was passed and adopted this ________ day of

                               , 2014, by the following vote of the Council:

AYES:

 

NAYS:

 

ABSTAIN:

 

ABSENT:

 

 

APPROVED this           day of                                , 2014.

 

 

______________________________________________________

ROBERT A. CASHELL, SR.

MAYOR

 

 

 

 

ATTEST:

 

_______________________________________________

LYNNETTE R. JONES

CITY CLERK