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RESOLUTION NO. 8,686
198
A RESOLUTION AUTHORIZING THE SALE OF TWO
CONTIGUOUS LOTS AT 1114 -1116 DENNISON;
AND AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE A DEED CONVEYING THE CITY'S
INTI?REST IN SAID PROPERTY TO WORTHEN
:0767.1
WHEREAS, the City desires to divest itself of its interest
in property located at 1114 -1116 Dennison; and
WHEREAS, the only City investment is the cost of
demolishing and removing two dilapidated structures; and
WHEREAS, the subject lots are part of a Model Block
designated in the 1991 -92 CDBG program; and
WHEREAS, an advertisement for bids was published March 22,
1992 which stipulated that any purchaser must agree to construct
within twelve months an affordable single - family dwelling
conformable to one of three designs approved for the Model Block
Program and to be sold for occupancy as principal residence of the
buyer; and
WHEREAS, the only bid was from Worthen CDC.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1: The Mayor and City Clerk are authorized to
execute a deed to convey the City's interest in property located
at 1114 -1116 Dennison to Worthen Development Corporation (Worthen
CDC) for $1,500.00.
ADOPTED: April 7, 1992
ATTEST:
A
APPROVED AS TO FORM:
t"1 ,
THOMAS M. CARPENTERV CITY ATTORNEY
APPROVED:
SHARON PRIEST, YOR
A�