City Parkway 5 board approves FY 2026–27 operating budget, cites asset sales and $10.5M museum contribution
January 26, 2026 | Las Vegas , Clark County, Nevada
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The City Parkway 5 board on Jan. 26, 2026 approved its fiscal year 2026–27 operating budget following a staff presentation that outlined major revenue and expense items.
Kelly Swanson, administrative officer with Economic and Urban Development, summarized large projected inflows and authorities built into the budget. "The large gain on disposal of assets, that is 8,000,000 for expected for the sale of o 2 and 2,200,000.0 for the sale of j k," Swanson said, and she noted a projected $10,000,000 sale of Parcel E expected to close this fiscal year. She also said "the general contributions, 10 and a half million of that is for the Las Vegas Museum of Arts." Swanson listed other items including $265,000 for other professional services (of which $250,000 had been previously approved for the Symphony Park Design Review Committee), $13,000 in association fees to the Symphony Park Master Association, and insurance premiums for general liability and directors-and-officers coverage.
Board members offered no substantive questions following the presentation. Presiding Officer made the motion to approve the FY 2026–27 operating budget; the board voiced approval and the presiding officer declared the motion carried.
Votes at a glance: The board approved (1) the final minutes of the regular meeting of Oct. 27, 2025, and (2) the FY 2026–27 operating budget. The meeting record shows Directors Heltzley and Cortez present and voting in favor; Director Janssen was excused.
The board opened two public-comment periods limited to agenda items and to matters within the board's jurisdiction; no members of the public spoke. The presiding officer closed the meeting and moved to adjournment.
Next steps: The approved budget includes authorizations to spend previously granted professional-services funds, authority to purchase land if opportunities arise, and projections tied to anticipated asset sales and contributions. The board did not identify additional follow-up actions or hearings during the session.
Kelly Swanson, administrative officer with Economic and Urban Development, summarized large projected inflows and authorities built into the budget. "The large gain on disposal of assets, that is 8,000,000 for expected for the sale of o 2 and 2,200,000.0 for the sale of j k," Swanson said, and she noted a projected $10,000,000 sale of Parcel E expected to close this fiscal year. She also said "the general contributions, 10 and a half million of that is for the Las Vegas Museum of Arts." Swanson listed other items including $265,000 for other professional services (of which $250,000 had been previously approved for the Symphony Park Design Review Committee), $13,000 in association fees to the Symphony Park Master Association, and insurance premiums for general liability and directors-and-officers coverage.
Board members offered no substantive questions following the presentation. Presiding Officer made the motion to approve the FY 2026–27 operating budget; the board voiced approval and the presiding officer declared the motion carried.
Votes at a glance: The board approved (1) the final minutes of the regular meeting of Oct. 27, 2025, and (2) the FY 2026–27 operating budget. The meeting record shows Directors Heltzley and Cortez present and voting in favor; Director Janssen was excused.
The board opened two public-comment periods limited to agenda items and to matters within the board's jurisdiction; no members of the public spoke. The presiding officer closed the meeting and moved to adjournment.
Next steps: The approved budget includes authorizations to spend previously granted professional-services funds, authority to purchase land if opportunities arise, and projections tied to anticipated asset sales and contributions. The board did not identify additional follow-up actions or hearings during the session.
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