14432 1 RESOLUTION NO. 14,432
2
3 A RESOLUTION TO AUTHORIZE THE PURCHASE OF A PARCEL OF
4 PROPERTY OFFERED FOR SALE TO THE CITY OF LITTLE ROCK,
5 TO BE USED FOR NEIGHBORHOOD REVITALIZATION PROGRAMS;
6 AND FOR OTHER PURPOSES.
7
8 WHEREAS, the Board of Directors has stated as one of its goals a desire to provide for
9 neighborhood revitalization, and has taken special efforts to accomplish this goal through its use of
10 various City and Federal Funds, and in affirmative actions such as the creation of a Land Bank
11 Commission; and,
12 WHEREAS, in order to accomplish this goal it is required that properties be obtained by the City in
13 areas that are appropriate for revitalization;and,
14 WHEREAS, the Land Bank Commission has identified a parcel of property located at 917 South
15 Maple Street, which can be used to fulfill the City's stated goals; and,
16 WHEREAS,City staff has obtained a full title search on the property which revealed valid title;and,
17 WHEREAS, the City has negotiated a Real Estate Purchase Contract with a total purchase price of
18 Three Thousand Dollars($3,000.00); and,
19 WHEREAS, the City obtained a real estate appraisal with an appraised value of Three Thousand
20 Dollars($3,000.00).
21 WHEREAS, the 2015 Real Estate Taxes have been paid in full and there are no outstanding City
22 liens on the property.
23 WHEREAS, funds to pay the purchase price for the parcel are available in the Land Bank's General
24 Fund Account No. S35A575; and,
25 WHEREAS, pursuant to State Law, the City must obtain authority to purchase property by a
26 resolution adopted by the Board of Directors;
27 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
28 OF LITTLE ROCK,ARKANSAS:
29 Section 1. Pursuant to Ark. Code Ann. §14-54-302(c) (West Supp. 2011), the City must obtain
30 authority from the Board of Directors to purchase the parcel of property.
31 Section 2. The Board of Directors, pursuant to Ark. Code Ann. § 14-54-302(c) (West Supp. 2011),
32 must authorize the Mayor and City Clerk to execute any documents necessary to complete the purchase of
33 the property.
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1 Section 3. If acquired, this property shall be used for a public purpose, specifically for City
2 neighborhood revitalization programs.
3 Section 4. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
4 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
5 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
6 effect a if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
7 ordinance.
8 Section 5. Repealer. All laws, ordinances, resolutions, or parts of the same that are inconsistent with
9 the provisions of this resolution are hereby repealed to the extent of such inconsistency.
10 ADOPTED: October 18,2016
11 ATT '/,' APPROVED:
12 ` J /
13 WA::►�
e City Clerk Markt Stodola, Mayor
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16 APPR I VED AS TO LEGAL FORM:
17
18 /141/l/J,/ /it
19 Thomas M. Carpenter, City Attq� ey
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