HomeMy WebLinkAbout15807 RESOLUTION NO. 15,807
A RESOLUTION TO AUTHORIZE THE MAYOR AND CITY CLERK TO
EXECUTE ANY DOCUMENTS NECESSARY TO PURCHASE THREE (3)
RESIDENTIAL PARCELS IN WARD 6 FOR AN AMOUNT NOT TO
EXCEED SEVENTY THOUSAND DOLLARS ($70,000.00), PLUS SURVEY
AND CLOSING COST FEES, UTILIZING HOME INVESTMENT
PARTNERSHIP PROGRAM FUNDS; AND FOR OTHER PURPOSES.
9
10 WHEREAS, the City receives Federal Funds from the HOME Investment Partnership (HOME)
11 Program that can be utilized for certain eligible properties;and,
12 WHEREAS,the City wishes to purchase three(3)residential parcels located on Holt Street and Bowers
13 Street,Little Rock,Pulaski County,Arkansas for Seventy Thousand Dollars($70,000.00),plus survey and
14 closing cost fees:
15 1. Lot 20; Block 8, Euclid Place on Holt Street Lot 2 and Lots 20 - 24, Block 823 IN and
16 13 W (Parcel No. 44L145001100), with a Fair Market Appraisal of Thirty Thousand
1 ' Dollars($30,000.00),will be purchased for Thirty Thousand Dollars($30,000.00); and,
1; 2. Lot 1; Block 9, Euclid Place on 4412 Holt Street, Lots 1 - 7 and N V2 Lot 8 and Lot 23
1" Block 9 EXC 1,482 square-feet for RD RIW 22 IN 13 W (Parcel No. 446145001160),
20 with a Fair Market Appraisal of Forty-One Thousand Dollars ($41,000.00), will be
2 purchased for Thirty Thousand Dollars($30,000.00); and,
2 3. Lot 21 and Lot 22; Block 9, Euclid Place on Bowers Street Lot 21 and Lot 22 Block 9
2 IN 13W (Parcel No. 44L1450012201), with a Fair Market Appraisal of Twelve
2 Thousand, Six Hundred Dollars ($12,600.00), will be purchased for Ten Thousand
2 Dollars($10,000.00).
2 WHEREAS,once purchased by the City these properties shall be sold as affordable property to eligible
2' low-to-moderate income homebuyers; and,
2 WHEREAS,pursuant to Ark. Code Ann. § 14-54-302(West Supp. 2019),a resolution is necessary to
29 accomplish such a transfer of municipal property.
30 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
31 OF LITTLE ROCK,ARKANSAS:
32 Section 1. The Mayor and City Clerk are authorized to execute any necessary documents, in a form
33 acceptable to the City Attorney, to authorize the purchase of the following three (3) residential properties
34 located in Ward 6 for Seventy Thousand Dollars($70,000.00), plus survey and closing cost fees:
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1. Lot 20;Block 8,Euclid Place on Holt Street Lot 2 and Lots 20-24,Block 823 IN and
13 W (Parcel No. 44L145001100), with a Fair Market Appraisal of Thirty Thousand
Dollars ($30,000.00), will be purchased for Thirty Thousand Dollars ($30,000.00);
and,
' 2. Lot 1;Block 9,Euclid Place on 4412 Holt Street,Lots 1 -7 and N Vz Lot 8 and Lot 23
c Block 9 EXC 1,482 square-feet for RD RIW 22 IN 13 W(Parcel No.446145001160),
with a Fair Market Appraisal of Forty-One Thousand Dollars ($41,000.00), will be
purchased for Thirty Thousand Dollars($30,000.00); and,
' 3. Lot 21 and Lot 22;Block 9, Euclid Place on Bowers Street Lot 21 and Lot 22 Block 9
1 i IN 13W (Parcel No. 44L1450012201), with a Fair Market Appraisal of Twelve
1 Thousand, Six Hundred Dollars ($12,600.00), will be purchased for Ten Thousand
1 Dollars($10,000.00).
1 Section 2. Funds for this purchase are available in the HOME Funds Account No. 240009-G58717.
1, Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
15 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
16 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
17 effect as if the portion so declared or adjudged invalid or unconstitutional was not originally a part of the
18 resolution.
19 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same,that are inconsistent with
20 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
2 ADOPTED: October 18,2022
2 walk APPROVED:
2 1t)
4,24 _
2 " 'canan • ,City Clerk rank Scott, r.,Mayor
2 APPRO. ' AS TO LEGAL FORM:
2
28
29 Alexander J. tton, Chief Deputy
3 ) City Attorne
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