11608I
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RESOLUTION NO. 11,608
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3 A RESOLUTION TO AUTHORIZE THE MAYOR AND
4 CITY CLERK TO EXECUTE A WARRANTY DEED FOR
5 THE CONVEYANCE OF PROPERTY LOCATED AT 510
6 MAIN STREET, KNOWN AS THE FORMER M. M. COHN
7 BUILDING; AND FOR OTHER PURPOSES.
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9 WHEREAS, the City of Little Rock competitively selected Dickson Flake
10 Partners, Inc. ( "DFP ") to market and sell a building at 510 Main Street, known as the
11 former M.M. Cohn building, and
12 WHEREAS, DFP sought proposals for redevelopment of the building and
13 recommended the proposal submitted by L.P.P., LLC to the City Manager and Board of
14 Directors, and
15 WHEREAS, L.P.P., LLC desires to purchase the above - described real property
16 owned by the City of Little Rock, Arkansas (the "City") for the sum of One Hundred
17 Seventy-Five Thousand Dollars ($175,000.00) for the property, and
18 WHEREAS, through Little Rock, Ark. Resolution No. 11,528 (June 3, 2003), the
19 Little Rock Board of Directors previously authorized the City Manager to enter into a
20 contract for the sale of the property to L.P.P., LLC for the offered price, and
21 WHEREAS, the parties are now ready to close the transaction by Special
22 Warranty Deed to L.P.P., LLC.
23 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
24 THE CITY OF LITTLE ROCK:
[PAGE 1 OF 31
To authorize execution of a Warranty
Deed for the M.M. Cohn Building
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1 Section 1. The Mayor and City Clerk are hereby authorized to execute a Special
2 Warranty Deed for and on behalf of the City to L.P.P., LLC, or its designee, for sale of
3 the property at 512 Main Street, Little Rock, Arkansas, more particularly described in
4 section 2 below, upon full payment of the purchase price of One Hundred and Seventy-
5 Five Thousand Dollars ($175,000.00) paid to the City of Little Rock.
6 Section 2. The property is more particularly described as Lot 10 and the South
7 40 feet of Lot 11, Block 74, Original City of Little Rock, Pulaski County, Arkansas.
8 Section 3. Severability. In the event any section, subsection, subdivision,
9 paragraph, subparagraph, item, sentence, clause, phrase, or word of this resolution is
10 declared or adjudged to be invalid or unconstitutional, such declaration or adjudication
11 shall not affect the remaining portions of this resolution, which shall remain in full force
12 and effect as if the portion so declared or adjudged invalid or unconstitutional were not
13 originally a part of this resolution.
14 Section 4. Repealer. All laws, ordinances, resolutions, policies, or parts of any
15 such material, in conflict with the provisions of this resolution are hereby repealed to
16 the extent of such inconsistency.
17 ADOPTED: September 30, 2003
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19 ATTEST: APPROVED:
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21 `l��l. �.4ddtdt�o�,tG7 CLvt/Cd�
22 Nancy Wood, City Clerk u Jim a ley, Mayor
[PACE 2 OF 31 `
To aulhonxe exea ition of a Warranty
Dead for the M.M. Cohn Building
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APPROVED AS TO LEGAL FORM:
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Thomas M. Carpenter, City torney
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To authorize execution of a Warranty
Deed for tie M.M. Cohn Building
[PAGE 3 OF 31
C,