6673 J
RESOLUTION NO. 6 ,673
A RESOLUTION AUTHORIZING THE SALE OF
CITY-OWNED PROPERTY LOCATED ON THE
SOUTHEAST CORNER OF 14th AND IZARD STREETS
TO MR. WILLIE JONES ; AUTHORIZING A OUIT-
CLAIM DEED TO BE GRANTED ON BEHALF OF THE
CITY FOR CERTAIN PROPERTY LOCATED AT 7th
AND THAYER STREETS ; AND FOR OTHER PURPOSES .
WHEREAS , the appraised value of property located on the
southeast corner of 14th and Izard Streets is $7 ,500. 00; and
WHEREAS , staff has reconunended that the property located
on the southewast corner of 14th and Izard Streets be sold to
Mr. Willie Jones for $5 ,000. 00; and,
WHEREAS , the staff has recommended that Mr. Willie Jones
be granted an option for eighteen months during which time con-
struction must commence and that the price of the option should
be $1, 800. 00 which will not be returned should Mr. Jones choose
not to purchase the property; and,
WHEREAS , the City has received an offer from Mr. Larry
Garrison for $500. 00 for a quitclaim deed for Lot 7 , Block 8 ,
Ferndale Addition which is adjacent to the White Water Tavern
at 7th and Thayer Streets ; and,
WHEREAS , the staff has concluded that the City does not
now own the property described as Lot 7 , Block 8 , Ferndale
Addition but that the City did own the property at one time and
the grant of a quitclaim deed to Mr. Garrison would be appropriate.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS :
Section 1. An option to be granted to Mr. Willie Jones
to purchase property described as Lot 1 , Block 234, Original City
of Little Rock located on the southeast corner of 14th and Izard
Streets is hereby authorized in the amount of $1 , 800. 00 subject
to the conditions that construction will commence within the
eighteen month period and that the option price will not be
returned if Mr. Jones chooses not to purchase the property.
The sale of the above-described property to Mr. Willie Jones at
the close of the option period is hereby authorized.
Section 2 . The grant of a quitclaim deed to Mr. Larry
Garrison for $500 . 00 for Lot 7 , Block 8 , Ferndale Addition is
hereby authorized.
Section 3 . This Resolution shall be in full force and
effect from and after its adoption and approval .
ADOPTED: October 6 , 1981
ATTEST : APPROVED: / //
y
it 144 Mayor