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RESOLUTION NO. 10,399
A RESOLUTION TO APPROVE THE PURCHASE OF
CERTAIN PROPERTY FOR THE WILLIAM
JEFFERSON CLINTON PRESIDENTIAL PARK
COMPRISED OF THE WEST 100 FEET OF LOTS 1,2,
AND 3, BLOCK 9, RUSSELL'S ADDITION TO THE
CITY OF LITTLE ROCK FOR $200,000; TO
AUTHORIZE THE MAYOR, CITY CLERK, CITY
MANAGER TO EXECUTE ANY NECESSARY
DOCUMENTS; AND FOR OTHER PURPOSES.
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WHEREAS, the City Board of Directors has created the William Jefferson Clinton
Presidential Park; and
WHEREAS, the City is in the process of acquiring property for the park in order to
assure that the park is large enough to house the Clinton Presidential Library and other things,
and
WHEREAS, the property subject to the purchase authorized by this resolution is the
building and land located at 1001 East 2nd Street which is within the area designated for the
park; and
WHEREAS, the subject property was appraised by the City appraiser for $175,000
although it was claimed to be worth much more than that amount by the owners, Mary Virginia
Weber, Charles E. Ratcliffe III, Grace T. Magie, Mary Louise Graw and William T. Hogan; and
WHEREAS, in consideration of the saved expenses of not having to litigate a
condemnation action and, in the process, possibly having to pay a higher amount as determined
by a jury, the parties have agreed that the City's appraised value plus an amount in
consideration of potential additional cost, equals a total price of $200,000 as just compensation
for the property.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
Section 1. The Mayor, City Clerk and City Manager are authorized to execute
documents, found by the City Attorney to be in correct legal form, which permit the purchase
of the West 100 feet of Lots 1,2 and 3 of Block 9, Russell's Addition to the City of Little
Rock for the sum of $200,000, which sum has been agreed by the parties to constitute just
compensation.
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1 Section 2. Funds for this purchase are available from Account No.210 -21- 4- 095 -7.
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4 ADOPTED: November 2, 1998
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6 ATTEST: APPROVED:
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9 Robbie Hancock, City Clerk Jim D iley, Mayor
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11 APPROVED AS TO FORM:
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13 Thomas M. Carpenter, Ci ttorney
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