13785 2013076219 Received: 10121/2013 9:54:33 AM
Record<A: 10/21/2013 10:02:28 AM Filed&
Recorded in Official Records of Larry Crane,
PULASKI COUNTY CIRCUIT/COUNTY CLERK
1 RESOLUTION NO. 13,785 Fees$20.00
2
3
4 A RESOLUTION TO AUTHORIZE THE PURCHASE OF A PROPERTY
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5 OFFERED FOR SALE TO THE CITY OF LITTLE ROCK, TO BE USED 1 ak
6 FOR NEIGHBORHOOD REVITALIZATION PROGRAMS; AND FOR W iJ�-" vim. -'••
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7 OTHER PURPOSES. -.7.- t : 2,;
8
%9 WHEREAS, the Board of Directors has stated as one of its goals a desire to provide for
10 neighborhood revitalization, and has taken special efforts to accomplish this goal through its use of
11 various City and Federal Funds, and in affirmative actions such as the creation of a Land Bank
12 Commission; and,
13 WHEREAS, in order to accomplish this goal it is required that properties be obtained by the City in
14 areas that are appropriate for revitalization; and,
15 WHEREAS, LandNPulaski, LLC, a duly organized limited liability company in good standing under
16 Arkansas law, by and through its authorized members, has indicated its desire to sell to the City of Little
17 Rock, the property located at located 2818 West 11fi" Street, Little Rock, Arkansas, which can be used to
18 fulfill the City's stated goals; and,
19 WHEREAS, the parcel is a 4,356 square-foot vacant lot with no structure located within the Land
20 Bank Focus Area; and,
21 WHEREAS,the parcel is contiguous to two(2)Land Bank-owned properties; and,
22 WHEREAS, City Staff has obtained a full title search on the property which revealed valid title and
23 no significant title issues; and,
24 WHEREAS, City Staff has performed an environmental assessment of the property pursuant to 24
25 C.F.R. § 58,et seq. (2003),which revealed no environmental problems; and,
26 WHEREAS, an appraisal was obtained from Lasley Appraisal and Valuation which valued the
27 property at$2,900.00; and,
28 WHEREAS, the owner of the property has agreed to sell the property for the purchase price of
29 $1,760.00; and,
30 WHEREAS,the owner of the property has paid the 2012 Real Estate Taxes in full; and,
31 WHEREAS,there are no outstanding City liens against the property; and,
32 WHEREAS, funds to pay the purchase price are available in the Land Bank's General Fund Account
33 No. S35A129; and,
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1 WHEREAS, pursuant to State Law the City must obtain authority to purchase property by a
2 resolution adopted by the Board of Directors;
3 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
4 OF LITTLE ROCK,ARKANSAS:
5 Section 1. Pursuant to Ark. Code Ann. § 14-54-302(c) (West Supp. 2010), the Board of Directors
6 hereby adopts this Resolution to authorize the purchase of the property located at 2818 West 11`h Street,
7 Little Rock,Arkansas.
8 Section 2. The Board of Directors, pursuant to Ark. Code Ann. § 14-54-302(c) (West Supp. 2010),
9 hereby authorizes the Mayor and City Clerk to execute any documents necessary to complete the
10 purchase of the property.
11 Section 3. Once acquired, this property shall be used for a public purpose, specifically for City
12 neighborhood revitalization programs.
13 Section 4. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
14 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
15 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
16 effect a if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
17 ordinance.
18 Section 5.Repealer. All laws, ordinances, resolutions, or parts of the same that are inconsistent with
19 the provisions of this resolution are hereby repealed to the extent of such inconsistency.
20 ADOPTED: October 15,2013
21 ATTEST- APPROVED.
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23
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24 S �: ley,City Clerk Mark Stodola,Mayor
25 AP q w, AS TO LEGAL FORM:
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27 k414 , 1",., V. d 4--m
28 Thomas M. Carpenter,City AttSrney
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