3325 RESOLUTION NO. 3 ,325
A RESOLUTION AUTHORIZING THE EMPLOYMENT
OF APPRAISERS FOR APPRAISEMENT OF THE
PARTIAL TRACTS WITHIN THE PROPOSED
EAST-WEST EXPRESSWAY, PHASE ONE (1) ; AND
FOR OTHER PURPOSES.
WHEREAS, the appraisement of partial tracts required for
right-of-way purposes within the East- est Expressway, Phase
One (1) , is imminent; and
WHEREAS, the appraisers who heretofore have appraised the
property required as whole tracts may be employed for the
appraisement of said partial tracts with a modification of the
rate of pay from the original contract dated November 30, 1962;
and
WHEREAS, it is the desire of the Board of Directors to
continue the use of the same appraisers in connection with the
East-West Expressway, Phase One (1) ;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS :
SECTION 1. A letter dated April 14, 1965, and signed
respectively by Russell McLean, Wesley Adamss William A. Payne
and Walter L. Hinton, Jr. , addressed to Mr. John E. Buxton,
Real Estate Officer of this City, is hereby accepted as an offer
of employment, subject to the terms and conditions of the
original contract between these parties dated November 30, 1962,
except as otherwise modified in the aforesaid letter.
SECTION 2. The terms and conditions of the continued
employment of the individuals referred to in Section 1 as
appraisers for the East-West Expressway, Phase One (1), is in
form and substance as follows:
April 14, 1965
Mr. John E . Buxton
Real Estate Officer
City of Little Rock
City Hall
Little Rock, Arkansas
Re: East - West Expressway
Phase One
Dear Mr . Buxton:
The undersigned Russell McLean, Wesley Adams, William A. Payne and
Walter L. Hinton, Jr. acknowledge your letter of April 12, 1965 re-
lative to modification of their individual contracts dated November
30, 1962 which pertained to the appraisal of tracts in the East -
West Expressway Project; we agree to extending such contract to in-
clude the preparation of appraisal reports on tracts that are of
partial acquisition and have remainders .
It is understood that the same type of appraisal will be produced on
same type of forms as previously furnished by the Arkansas State
Highway Commission. It is understood that only those parcels necess-
ary for Contract One will be needed at this particular time; it is
agreed that this modification will cover the balance of the tracts as
they are authorized and released to your engineers .
A short study reveals that a complete new brochure of comparables
and sales is necessary inasmuch as the market has changed in 22 years .
A number of transfers and sales have taken place in the interim
that directly affect unit values as of this date .
Typically in normal projects, partial takings require a thorough study
of remainders and severance damages, if any and are compensated accor-
dingly. The partial taking parcels in subject property will require
added detail and time due to current market conditions and damages .
It is proposed that the fees for parcels wherein the whole properties
are involved remain the same; for parcels that have remainders the under-
signed agree to produce an appraisal report and study for each for the
unit price of $150 . If further detail is desired, kindly call us .
R ectfully,
d
Rfu s McLean
WeTle(' Adams /9
/,L, -h yw 62. r
William A. Payne
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SECTION 3. This resolution shall be in full force and
effect from and after its adoption.
ADOPTED: May 3, 1965
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ATTEST. APPROVED:
V�
Cl Mayor
City