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70
RESOLUTION NO. 9,615
A RESOLUTION TO AUTHORIZE THE PURCHASE OF
LAND IN THE JOHN BARROW ROAD AREA TO BE USED
FOR AFFORDABLE HOUSING; AND FOR OTHER
PURPOSES.
WHEREAS, the City has funded an affordable HOME project
that makes property available to contractors who contract to
build affordable housing for low to moderate income residents;
WHEREAS, the purchase price of such property is recouped
when the homes are sold; and
WHEREAS, land.is available in the John Barrow Road area for
development of an affordable home subdivision and this land is
prime since it contains 17 lots, 14 of which are on an existing
cul -de -sac; and
WHEREAS, this purchase of this property has not been
competitively bid since the City would have otherwise utilized
its condemnation authority had a negotiated price not been
available.
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 any and all documents necessary to purchase 17 lots in
the John Barrow addition in an amount not to exceed seventy
thousand six hundred and eighty -eight dollars ($70,688.00) from
Odes Terry Construction Co. to be used in the City's affordable
HOME project.
Section 2. The land to be purchased is more particularly
described on the attached Exhibit A to this resolution.
Section 3. Funds for this purchase are available in Account
No. 0036 - 392 -5.
ADOPTED: February 6, 1996
ATTEST:
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APPROVED AS TO FORK:
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"PROVED:
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Tract 1:
EXHIBIT A
LEGAL DESCRIPTION
Lots 1 thru 12 and Lots 14 and 15, Parkview Hill Addition to
the City of Little Rock, Pulaski County, Arkansas.
Tract 2:
Part of Block 9, Pine Hill Subdivision, in the city of
Little Rock, Pulaski County, Arkansas, more particularly
described as follows: Beginning at the Southeast corner of
said Block 9; thence North 112.2 feet; thence West 151.9
feet; thence South 112.2 feet; thence East 151.9 feet to the
point of beginning, being also described as the East 151.92
feet of the South 122.2 feet of Tract 9, Pine Hill
Subdivision, in the City of Little Rock, Pulaski County,
Arkansas.
M
A strip of land formerly platted as 1/2 of Gilman Street
(now closed) lying adjacent to the above property on the
East side thereof, being 112.2 feet North and South by 25
feet East and West.
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