7339i
RESOLUTION NO. 7,339 114
A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY
CLERK TO ENTER INTO A CONTRACT FOR THE PURCHASE
OF 160 ACRES OF LAND IN THE FOURCHE BOTTOMS.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The Mayor and the City Clerk are hereby
authorized to execute contracts necessary for the purchase of 160
acres in the Fourche Bottoms needed for the Plan VII Drainage
Project for a total price not to exceed the budget, payable from
the funds specified in the attached fact sheet.
ADOPTED: March 5, 1985
ATTEST:
CI97 CLERK NE CZECH
APPROVED:
MAYOR THOMAS A. PRINCE
BROW RN IRE- RS COMMUNIC V _
• \ATTACHMENT FOR RES. 7',339.
M E M O R A N D U M
February 22, 1985
TO: Mayor and Board of Directors
FROM: Susa4eming, City Manager
SUBJECT: Acquisition of Lands in the Fourche Bottoms
BOARD ACTION RECOMMENDED: Adoption of a resolution
authorizing the City Manager to acquire 160 acres in the
Fourche Bottoms.
BACKGROUND: After years of negotiations, staff has secured
an opts -to acquire 160 acres of land in the Fourche
Bottoms. This acreage is a key parcel needed for the
Plan VII drainage project.
This option has been secured for the appraised value of $500
per acre plus the value of the timber. The timber has been
appraised at $20,000 by a timber company representing the
owner. The City employed a timber appraiser, and he concurs
with the above amount.
A small -scale sketch indicating the location is attached.
Total Acquisition Cost: 160 acres x 500 $ 80,000
Timber 20,000
00,000
Closing Cost 620
100, 20
Funds have previously been appropriated in Acct.
No. 8321 -9717 for the purpose of land acquisition.
WBK /SBF:jf2
CITY OF LITTLE ROCK, ARKANSAS
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