15769 1 RESOLUTION NO. 15,769
2
3 A RESOLUTION AUTHORIZING THE MAYOR TO ENTER INTO A
4 CONTRACT WITH SAMUEL LANIER RAINES,TWILLA ANNE RAINES
5 AND BARBARA DUTY, IN THE AMOUNT OF NINETY THOUSAND
6 DOLLARS ($90,000.00), FOR THE PURCHASE OF APPROXIMATELY
7 FORTY (40) ACRES OF LAND ADJACENT TO THE PORT OF LITTLE
8 ROCK, FOR USE BY THE LITTLE ROCK PORT AUTHORITY FOR
9 ECONOMIC PROSPECT RECRUITMENT; AND FOR OTHER
10 PURPOSES.
11
12 WHEREAS,the City of Little Rock,Arkansas,through its 2011 Capital Sales Tax Initiative,set aside
13 money for the specific purpose of expanding the real estate holdings of the Little Rock Port Authority;and,
14 WHEREAS,the Little Rock Port Authority has been actively exploring opportunities for expansion,
15 including the development of a 2008 Master Real Estate Acquisition Plan;and,
16 WHEREAS,the Little Rock Port Authority Staff has worked with the Greater Little Rock Regional
17 Chamber of Commerce,and other interested parties,to explore viable options for real estate expansion and
18 determined that this particular parcel will meet the future needs of the Little Rock Port Authority for
19 Economic Prospect Recruitment Purposes,and,
20 WHEREAS,the Little Rock Port Authority Staff has extended a preliminary offer,based upon a third-
21 party appraisal, for the property in question and the offer has been accepted by the owner.
22 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
23 OF LITTLE ROCK:
24 Section 1. The City of Little Rock Board of Directors authorizes the Mayor to purchase approximately
25 forty (40) acres of land and a residential structure for a purchase price of Ninety Thousand Dollars
26 ($90,000.00), plus associated closing cost, and is contingent upon positive findings of the Phase One
27 Environmental Study and determination of clear title. The property is located at:
28 THE SOUTHWEST QUARTER OF THE SOUTHWEST QUARTER OF SECTION 28,
29 TOWNSHIP 1 NORTH, RANGE 11 WEST,PULASKI COUNTY,ARKANSAS.
30 Section 2. Funding for this acquisition will come from the Little Rock Port Authority.
31 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase or
32 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
33 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
IPage 1 of2I
1 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
2 resolution.
3 Section 4. Repealer.All laws ordinances resolutions or parts of the same that are inconsistent with the
4 provisions of this resolution are hereby repealed to the extent of such inconsistency.
5 ADOPTED: September 6,2022
6 A 4.1 APPROVED:
711111.
8 4/11/01" ,„A.
6
9 Sus.n ,n1 • City Clerk Frank Scott,Jr.,Mayor
10 APP: I . TO LEGAL FORM:
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12 '1'S''"'`-`7 WI
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13 Thomas M.Carpenter, City Attorney
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