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6450 -r RESOLUTION NO. 6 ,450 A RESOLUTION AUTHORIZING THE RELEASE OF A REVERSIONARY INTEREST IN STATE PROPERTY BY QUITCLAIM DEED; AND FOR OTHER PURPOSES. WHEREAS, the State Highway Department had previously purchased a parcel of property from the City for the East Belt Freeway right-of-way; and WHEREAS, the regulations of the State Highway Department require the department to offer the property to the previous owner if it becomes surplus to the Highway Department needs ; and WHEREAS, the prospective buyer of the property shown on the attached exhibit has requested that the City quitclaim its right of first refusal to him in order that he may buy the parcel from the Highway Department; and WHEREAS, the Staff has indicated that the City has no present or planned need for the property and , therefore, no reason to repurchase the parcel . NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS: SECTION 1 . The release of a reversionary interest in State property as shown on the attached exhibit is hereby authorized by a Quitclaim Deed . SECTION 2. This Resolution shall he in full force and effect from and after its adoption and approval . ADOPTED: October 21 , 1980 ATTEST: j II i A. . i _ APPROVED: Cis' Clerk / ayor M E M O R A N D U M OCTOBER 7, 1980 TO: CITY BOARD OF DIRECTORS FROM: MAHLON A. MARTIN, CITY MANAGER SUBJECT: RELEASE OF RIGHT-OF-FIRST REFUSAL ON STATE OWNED PROPERTY THE STATE HIGHWAY DEPARTMENT PURCHASED A PARCEL OF PRO- PERTY FROM THE CITY FOR THE EAST BELT FREEWAY RIGHT-OF- WAY . THEIR REGULATIONS REQUIRE THEM TO OFFER THE PRO- PERTY TO THE PREVIOUS OWNER IF IT BECOMES SURPLUS TO THEIR NEEDS . CURRENTLY MR . JAMES A. PATE IS ATTEMPTING TO PURCHASE THIS PARCEL WHICH IS CONTIGUOUS TO HIS PROPERTY BUT OTHER- WISE "LAND LOCKED" EXCEPT FOR THE ACTUAL RIGHT-OF-WAY . (THIS RIGHT-OF-WAY IS AN ACCESS ROAD TO THE FREEWAY . ) A MAP SHOWING THE PROPERTY AND A LEGAL DESCRIPTION IS AT- TACHED . MR . PATE HAS REQUESTED THAT THE CITY QUITCLAIM ITS RIGHT-OF-FIRST REFUSAL TO HIM IN ORDER THAT HE MAY BUY THE PARCEL FROM THE HIGHWAY DEPARTMENT . MR . PATE ' S REQUEST HAS BEEN COORDINATED WITH BILL DAVIES, 4 DIRECTOR OF COMMUNITY SERVICES; NATHANIEL GRIFFIN, DIREC- TOR OF COMPREHENSIVE PLANNING; JULIUS BRECKLING, DIRECTOR OF PARKS AND RECREATION; AND BUSTER RILEY, REAL ESTATE OFFICER . THEY HAVE ALL INDICATED THAT THE CITY HAS NO PRESENT OR PLANNED NEED FOR THE PROPERTY AND, THEREFORE, NO REASON TO REPURCHASE THE PARCEL . I RECOMMEND THAT WE GRANT MR . PATE ' S REQUEST AND QUITCLAIM OUR INTEREST TO HIM. MAHLON A. MARTIN CITY MANAGER ATTACHMENT I • ...;,3i�6�.�jY;..'�I..,. dt7+'3'E•i�aFit� ,,ltti.-,.n.;w+-•.�-Y�i.G.w'�.'1{O+�.t idr+r....iio.�4..tCo1',y.'vi:^,S i: •�5}.ti�S�CfidCs r.LALItiktil:iL`+ .3iiUL.I:.:_ a'isrtfi:1i .:::�.�.::.s:s:.+Eis Statut rvv Reversionary Interest of Repurchase Pulaski _--_-. County, RrKamas: Part 'of the Southeast Quarter of the Northwest Quarter and part of the Southwest Quarter of the Northeast Quarter all in Section 16, Township 1 North, Range 11 Wes Pulaski County, Arkansas, more particularly described as follows: Starting at the Southwest Corner of the Southeast Quarter of the Northwest of Section 16, Township 1 North, Range 11 West, Pulaski County, Arkansas; thence North 01 degrees 30'13" along._-the l i n e West. i ne_of said Southeast Quarter of the i Northwest Quarter a distance of 246.75 feet to a point on the Northerly proposed right of way line of the East Belt Freeway for the point of beginning; thence continue North 01 degree 30' 13" East along said West line a distance of 237.7 feE to a poi n ;.thence$QUth_.89 degrees_ 38' 39" East_a_.distance _Qf_1317. 17 feet_to a point; thence South 89 degrees 31 ' 28" East a distance of 311 .3 feet to a point on the Northerly proposed right of way line of the East Bel_t._Freeway; thence _ South 69 degrees 00' 43" West along said proposed right of way line a distance of 30.87 feet to a point; thence South 76 degrees 53' West along said proposed right of way line a distance of 763.5 feet to a point; thence South 80 degrees 30' West along said proposed right of way line a distance of 414.8 feet to a point; thencE North 86 degrees 32' West along said proposed right of way line a distance of 347.2 feet to a point; thence North 87 degrees 23' West along_ said proposed right of way line a distance of 106.7 feet to the point of beginning and containing 6.41 Acres, more or less . • • _.=.:ryy.:n:F3w..0 ^.+a{.-,u ..TLrM•. :..7sa-r-.t. ..i. _ - .. _ - d�taiialoal t flG 'gIt4 A0a. 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