176711 ORDINANCE NO. 17,671
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3 AN ORDINANCE AMENDING AND RESTATING A FRANCHISE
4 TO CAPITOL AVENUE DEVELOPMENT COMPANY, A LIMITED
5 PARTNERSHIP, AND ITS SUCCESSORS AND ASSIGNS, IN AND
6 TO CERTAIN REAL PROPERTY WITHIN THE NORTH /SOUTH
7 ALLEY IN BLOCK 93, ORIGINAL CITY OF LITTLE ROCK,
8 ARKANSAS, AND IN PART OF THE RIGHT -OF -WAY OF SOUTH
9 CENTER STREET LYING ADJACENT TO LOTS 10, 11 AND 12,
10 BLOCK 93, ORIGINAL CITY OF LITTLE ROCK, ARKANSAS ALL
11 FOR THE PURPOSE OF CONSTRUCTING, ERECTING,
12 MAINTAINING, OPERATING, ALTERING AND REPAIRING A
13 PARKING DECK.
14 WHEREAS, on February 4, 1986 the Little Rock Board of Directors passed Little
15 Rock, Ark. Ordinance No. 15,052 ( "LRO ") granting a franchise to Capitol Avenue
16 Development Company to construct, erect, maintain, alter and repair a parking deck over
17 certain public right -of -way; and
18 WHEREAS, LRO 15,052 did not expressly state that the franchise to use the air space
19 over public right -of -way would continue in the event of an assignment or transfer of the
20 franchise right by the grantee, Capitol Avenue Development Company; and
21 WHEREAS, Capitol Avenue Development Company is in the process of refinancing
22 its real property and improvements which are benefitted by the franchise, and it is, therefore;
23 necessary to clarify the rights granted under the franchise; and
24 WHEREAS, the Little Rock Board of Directors desires to clarify and state its intent
25 by this ordinance that the franchise granted by LRO 15,052 may be assigned in perpetuity as
26 long as it exists and as long as the grantee of the franchise shall construct, operate and maintain
27 the structures in compliance with City codes and ordinances.
28 NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS
29 OF THE CITY OF LITTLE ROCK, ARKANSAS:
30 SECTION 1. This Ordinance amends and restates Ordinance No. 15,052 in its entirety.
31 SECTION 2. A franchise is hereby granted from the City of Little Rock, Arkansas to
32 Capitol Avenue Development Company, A Limited Partnership, and to its successors and
33 assigns in perpetuity, in and to the following described real property lying in the City of Little
34 Rock, Pulaski County, Arkansas, for the right, license and privilege to construct, erect,
35 maintain, operate, alter and repair parking decks on Lots L2,3, 10,11 and 12, Block 93, Original
36 City of Little Rock, Arkansas (collectively, the "Property "):
i M =® M M= M= M == M M M
1 Part of a 20 ft. North -South alley lying between Lots 1,2,3,10, 11 & 12,
2 Block 93, Original City of Little Rock, Arkansas, more particularly
3 described as: Starting at the Northeast corner of said Lot 1, Block 93;
4 thence Southerly along the east line of said Lot 1 and along the east line said
5 Lot 2, 62.9 ft to a point on the east line of said Lot 2 and the point of
6 beginning, thence Easterly and perpendicular to the east line of said Lot 2,
7 0.07 ft. to a point; thence Southerly and parallel with said east line, 2.32 ft.
8 to a point; thence Westerly and perpendicularly to said east line, 0.07 ft. to
9 a point on said east line; thence Northerly along said east line, 2.32 ft. to a
10 point of beginning, containing 0.1624 sq. ft.
11 AND
12 Part of the right -of -way of South Center Street, lying adjacent to Lots 10,
13 11 & 12, Block 93, Original City of Little Rock, Arkansas, more particularly
14 described as: Beginning at a point on the east line of Lot 10, said Block 93,
15 5.0 ft. North of Southeast corner thereof, thence Northerly along the east
16 lines of said Lots 10, 11 & 12, said Block 93, 135.0 ft to a point, 10.0 ft.
17 South of the Northeast corner of said Lot 12; thence Southeasterly, 135.0
18 ft. to a point 0.23 ft. East of the east line of said Lot 10; thence Westerly,
19 0.23 ft. to the point of beginning, containing 15.52 sq, ft. more or less.
20 SECTION 3, The structures pennitted by this franchise shall be constructed, erected,
21 maintained, repaired and operated in strict compliance with all City codes, ordinances and
22 regulations for the life of the franchise.
23 SECTION 4. This ordinance shall be in full force and effect from and after its passage
24 and shall benefit and run in favor of all future owners of the Property and their successors and
25 assigns.
26
27 PASSED: February 10, 1998
28 ATTEST:
30
ROBBIE HANCOCK
31 CITY CLERK
32
33 APPROVED AS TO FORM:
34 / /f. — IJA /'.f A
35 THOMAS M. CARPENT
36 CITY ATTORNEY
MICHAEL KECK
VICE MAYOR
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