15656 1 RESOLUTION NO. 15,656
2
3 A RESOLUTION AUTHORIZING THE MAYOR TO ENTER INTO A
4 CONTRACT WITH STEEL PROPERTIES LAND COMPANY, LLC, FOR
5 THE PURCHASE OF APPROXIMATELY FIFTEEN (15) ACRES OF
6 LAND, FOR USE BY THE LITTLE ROCK PORT AUTHORITY FOR
7 ECONOMIC PROSPECT RECRUITMENT; AND FOR OTHER
8 PURPOSES.
9
10 WHEREAS,the Little Rock Port Authority has been actively exploring opportunities for expansion,
11 including the development of a 2008 Master Real Estate Acquisition Plan;and,
12 WHEREAS, the Little Rock Port Authority Staff has worked with the Greater Little Rock Regional
13 Chamber of Commerce,and other interested parties,to explore viable options for real estate expansion and
14 determined that this particular parcel will meet the future needs of the Little Rock Port Authority for
15 Economic Prospect Recruitment Purposes, and,
16 WHEREAS,the Little Rock Port Authority Staff has extended a preliminary offer,based upon a third-
17 party appraisal, for the property in question and the offer has been accepted by the owner.
18 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
19 OF LITTLE ROCK:
20 Section 1. The City of Little Rock Board of Directors authorizes the Mayor to purchase approximately
21 fifteen (15) acres of land for a purchase price of Three Hundred Seventy-Five Thousand Dollars
22 ($375,000.00), plus associated closing cost, and is contingent upon positive findings of the Phase One
23 Environmental Study and determination of clear title. The property is located at:
24 Thibault Road, Little Rock,Pulaski County,Arkansas;more specifically: Parcel No. 24L-
25 022.002.02. PT SW NE BEG SE COR SW NE TH N88*47'39"W1314.40' TH SW COR
26 SW NE TH.
27 Section 2. Funding for this acquisition will come from the Little Rock Port Authority.
28 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase or
29 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
30 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
31 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
32 resolution.
33 Section 4. Repealer.All laws ordinances resolutions or parts of the same that are inconsistent with the
34 provisions of this resolution are hereby repealed to the extent of such inconsistency.
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1 ADOPTED: April 5,2022
2 ATTE T• APPROVED:
3
4 Aim-
5 :a ,City Clerk Frank Scott,Jr.,Mayor
6 APP i • • S TO LEGAL FORM:
741'1ivr7
8 � 4,4• �..
9 Thomas M. Carpenter, City Attorney
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