In 1997 the Marina Area Plan was adopted by the Sparks Planning Commission, Sparks City Council and the Truckee Meadows Regional Planning Commission. One of the purposes of the plan was to convert the former “Helms Pit” into a lake, the surrounding area into a city park, and promote unique locations for new businesses, residential and tourist commercial uses. The limits of this area plan are included in Redevelopment Area #2.

As the Marina Area Plan began to take root, the Marina Village development was being considered on the northeast side of the Sparks Marina Park. The original handbook for the Marina Village Planned Development was approved in 2000 and amended in 2006. The planned development allowed for the development of roughly 32.5 acres consisting of single and multi-family residences, as well as commercial uses.

Since 2006 most of the planned development has been constructed including the Waterfront Building and most recently the Marina Waterfront at the Marina Apartments. The Waterfront Building was constructed in the early 2000’s.  This building is mixed-use consisting of two floors of commercial and 9 apartment units on the third floor. In July of 2019, the Sparks Water Bar was approved to utilize the former Anchor’s Bar and Grill location. This new use was allowed to expand the outdoor seating area located in the south end of the Waterfront Building. The Marina Waterfront at the Marina Apartments was just recently completed in 2019. The apartment complex has 230 units, with many amenities including an outdoor pool deck adjacent to the easterly shore of the Sparks Marina Park.

With the construction of the expanded outdoor dining and the pool deck, the existing Sparks Marina Path would need to be relocated to the west of both properties and adjacent to the marina. In August of 2019 plans were approved and construction began on the path relocation. Temporary easements were established for the new path and construction was completed in late fall of 2019.

As a result of the new path location, both private and public remnant parcels have been created. To address this issue the private property owners are willing to transfer their interest in their remnant parcels to the city, if the city is willing to sell the city’s interest in their parcels.

The city of Sparks owns two remnant parcels as a result of the Sparks Marina Path relocation. The two parcels range in size of 446.38 square feet, and 1,325.06 square feet.  LCG Waterfront, LLC, the owner of the Marina Waterfront at the Marina Apartments, owns two similarly situated parcels, one 16.39 square feet in size, and one 5,293.66 square feet in size.  

The Nevada Revised Statute 268.061(e) authorizes the City Council to sell any real property owned by the city when the property is a remnant that was separated due to the construction of a public facility or a parcel that as a result of its size is too small to establish economically viable use by anyone other than the adjacent property owner. 

An appraisal report was completed by Reese Perkins of Johnson Perkins Griffin Real Estate Appraisers and Consultants on April 20, 2020. The purpose of the appraisal was to estimate the per square foot fee simple Market Value of each of the parcels as set forth on the Sparks Marina Path Relocation Display, dated March 13, 2020.  The intended use of the appraisal is to assist in facilitating the exchange of privately-owned property with properties owned by the city of Sparks. The Market Value being transferred from the city of Sparks to LCG Waterfront, LLC is $31,855 in comparison to the property being transferred to the city of Sparks from LCG Waterfront, LLC in the amount of $65,085. The city of Sparks is realizing an increase in Market Value of $33,230.

1. Council could adopt the Resolution as outlined by Staff.
2. Council could reject the Resolution and provide direction to the City Manager.

I move to adopt Resolution (R-3365) approving the sale by the city of Sparks to LCG Waterfront, LLC of a parcel 446.38 square feet in size and a parcel 1,325.06 square feet in size located within the city of Sparks