15664ORDINANCE NO. 15,664 1.21
AN ORDINANCE APPROPRIATING CDBG
FUNDS FOR THE REPURCHASE OF THE
EAST ONE -HALF OF BLOCK 3, ORIGINAL
CITY, FROM ALLISON, MOSES AND
REDDEN, PURSUANT TO DEED
RESTRICTIONS CONTAINED THEREIN.
WHEREAS, by warranty deed, the East One -Half of Block 3 of
the Original City of Little Rock, was conveyed by the City to
Allison, Moses and Redden on March 15, 1987; and
WHEREAS, pursuant to said warranty deed, the Grantees
agreed to begin construction of a mixed use development within two
years or else the title to the real property would automatically
revert to the Grantors; and
WHEREAS, these conditions have not been met as previously
agreed upon.
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1: There is hereby appropriated up to $33,394.48
to be paid to Allison, Moses and Redden pursuant to the
reversionary clauses in said warranty deed.
PASSED: April 4, 1989
CLATT T: APPROV D:
ERK JAN CZECH MAYOR FLAYD G. VILLINES, III
AP AS
RK STODOLA, CITY ATTORNEY
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