Las Vegas Sun

November 10, 2009

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Threatened city lease revisited

Tuesday, June 2, 1998 | 9:56 a.m.

Las Vegas city attorneys are reconsidering a proposed lease for its developmental services building that they have already refused once.

The building, at 731 S. Fourth Street, is now being leased by the city from Dave Mason, a downtown real estate broker.

Mason signed a 10-year lease agreement with the city about 2 1/2 years ago.

A few months ago Arnold Kramer, president of United Municipal Leasing Corp., offered $4.8 million for the building. In negotiations, he proposed a 20-year lease agreement with the city.

The city denied his offer because a report by Coopers and Lybrand accounting firm said the city shouldn't spend more than $4.3 million for the structure.

Kramer said he would evict the city if an appropriate lease couldn't be agreed upon. Since then, city attorneys have attempted to block the sale to Kramer through District Court -- and failed.

At last week's City Council meeting, Mayor Jan Jones said Kramer's proposed lease was a sound one and that the attorneys should continue to negotiate with Kramer to make sure the department is not kicked out.

Attorneys for Kramer said the closing of the sale will be held off until a new agreement with the city is obtained.

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