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14055 1 RESOLUTION NO. 14,055 2 3 A RESOLUTION TO AUTHORIZE THE MAYOR AND CITY CLERK TO 4 EXECUTE A GROUND LEASE AGREEMENT WITH UTILITY HILL, 5 LLC, IN THE AMOUNT OF FIVE THOUSAND DOLLARS PER MONTH, 6 FOR CITY EMPLOYEE PARKING SPACES DUE TO THE 7 CONSTRUCTION ASSOCIATED WITH THE REPLACEMENT OF THE 8 BROADWAY BRIDGE; AND FOR OTHER PURPOSES. 9 10 WHEREAS, the demolition of the existing Broadway Bridge and the construction of its replacement 11 by the Arkansas Highway and Transportation Department (AHTD) will necessitate that the City locate 12 parking spaces other than those next to the bridge that are currently used for parking by City Employees 13 until the construction is completed; and, 14 WHEREAS, a ground lease has been negotiated with Utility Hill, LLC, for 67,572 square-feet of 15 property located at Gaines Street and Garland Avenue to provide some of the needed parking at a cost of 16 Five Thousand Dollars ($5,000.00) per month, which cost will be reimbursed to the City by AHTD for a 17 period of two(2)years; and, 18 WHEREAS, it is in the City's interests to enter into a ground lease agreement with Utility Hill, LLC, 19 under such terms; 20 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 21 OF LITTLE ROCK,ARKANSAS: 22 Section 1. The Mayor and City Clerk are hereby authorized to execute a ground lease agreement with 23 Utility Hill, LLC, to provide parking spaces to the City on approximately 67,572 square-feet of property 24 located at Gaines Street and Garland Avenue in Little Rock, Arkansas until at least February 1, 2017, at a 25 cost of Five Thousand Dollars ($5,000.00) per month, with the cost to be reimbursed for a two (2)-year 26 period by AHTD. The lease agreement shall be in a form approved by the City Attorney. 27 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 28 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or 29 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and 30 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the 31 resolution. 32 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent 33 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency. (Page 1 of21 1 ADOPTED: February 3,2015 2 A�ST. APPROVED: 3 4 dx..4 5 S san ng ,City Clerk Mark Stodola/Mayor 6 AP V AS TO LEGAL FORM: 7 8 A4-14.4 eiA/A14,X 9 Thomas M. Carpenter, City A/orney 10 // 11 // 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // Page 2 of 21