The City of Sparks holds title to real property located at 955 Street. Washoe County Assessor’s records reflect that the City acquired title to the property in 1986. The property is 42,000 square feet (.964 acre) in size and has a Washoe County Assessor’s Parcel Number (APN) of 032-193-19. It is improved with a 3-story (4 deck) parking garage constructed in 1988 containing approximately 341 parking stalls. The garage is managed by the City as free public parking.

On August 28, 2017, the City Council directed the City Manager to negotiate and prepare a Disposition and Development Agreement (DDA) providing for the sale and redevelopment of the C Street property to Silverwing Development. Silverwing’s preliminary proposal for the property is to retain the existing parking garage but add another parking level, a podium and 5 stories of apartments (approximately 175 units) to create a 10-story structure. In exchange for the property, Silverwing is proposing to grant the City the right to use, for public parking, a to-be-determined number of parking spaces which would be maintained at the developer’s expense.

Under NRS 279.432(1), the City may dedicate, sell, convey or lease its property to a Redevelopment Agency for the purpose of aiding and cooperating with the construction of a redevelopment project.

The proposed Grant, Bargain and Sale Deed providing for the transfer of the C Street garage property from the City of Sparks to the Redevelopment Agency is attached. 

The City has previously, on multiple occasions, conveyed City-owned property in the Victorian Square area to the Redevelopment Agency of the City of Sparks for redevelopment purposes. The Redevelopment Agency may sell property under NRS 279.472 without public bidding if it holds a public hearing, notice of which must be given by publication for not less than once a week for 2 weeks in a newspaper of general circulation published in the county in which the land lies. Once staff and Silverwing negotiate a DDA, it would be brought to the City Council and Redevelopment Agency for approval. Since the DDA would represent the Redevelopment Agency’s conditional agreement to sell Silverwing the C Street garage property, at that point the Redevelopment Agency would need to conduct the public hearing required by NRS 279.472, as well as obtain the City Council’s consent to sell property.

Transfer of the C Street garage property to the Redevelopment Agency does not, however, obligate the Redevelopment Agency to sell or otherwise dispose of the property to Silverwing Development.  

1. The City Council may approve the transfer of the C Street parking garage property to the Redevelopment Agency of the City of Sparks.
2. The City Council could deny or defer the transfer.

I move to approve the transfer of the C Street parking garage property from the City of Sparks to the Redevelopment Agency of the City of Sparks.