HomeMy WebLinkAbout15901 I RESOLUTION NO. 15,901
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3 A RESOLUTION AUTHORIZING THE MAYOR TO ENTER INTO A
4 CONTRACT WITH JACK TYLER FAMILY,LLC, FOR THE PURCHASE
5 OF APPROXIMATELY 117 ACRES OF LAND,FOR USE BY THE LITTLE
6 ROCK PORT AUTHORITY FOR ECONOMIC PROSPECT
7 RECRUITMENT; AND FOR OTHER PURPOSES.
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9 WHEREAS,the City of Little Rock,Arkansas,through its 2022 Bond Refinancing Initiative,set aside
10 money for the specific purpose of expanding the real estate holdings of the Little Rock Port Authority;and,
11 WHEREAS,the Little Rock Port Authority has been actively exploring opportunities for expansion,
12 including the development of a 2008 Master Real Estate Acquisition Plan; and,
13 WHEREAS,the Little Rock Port Authority Staff has worked with the Greater Little Rock Regional
14 Chamber of Commerce,and other interested parties,to explore viable options for real estate expansion and
15 determined that this particular parcel will meet the future needs of the Little Rock Port Authority for
16 Economic Prospect Recruitment Purposes, and,
17 WHEREAS,the Little Rock Port Authority Staff has extended a preliminary offer,based upon a third-
]8 party appraisal,for the property in question and the offer has been accepted by the owner.
19 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
20 OF LITTLE ROCK:
21 Section 1. The City of Little Rock Board of Directors authorizes the Mayor to purchase approximately
22 117 acres of land for a purchase price of One Million, Nine Hundred Fourteen Thousand, One Hundred
23 Fourteen and 24/100 Dollars($1,914,114.24),plus associated closing cost,and is contingent upon positive
24 findings of the Phase One Environmental Study and determination of clear title. The property is located
25 at:
26 TRACT 1: THE EAST ONE HALF OF THE WEST ONE HALF OF THE SOUTHEAST
27 QUARTER (E1/2 W1/2 SE1/4) OF SECTION 27, TOWNSHIP 1 NORTH, RANGE 11 WEST,
28 PULASKI COUNTY, ARKANSAS.
29 TRACT 2: THE EAST ONE HALF OF THE SOUTHEAST QUARTER (E1/2 SE1/4) OF
30 SECTION 27,TOWNSHIP 1 NORTH, RANGE 11 WEST,PULASKI COUNTY,ARKANSAS.
31 Section 2. Funding for this acquisition will come from the City's 2022 Bond Account.
32 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase or
33 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
34 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
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1 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
2 resolution.
3 Section 4. Repealer.All laws ordinances resolutions or parts of the same that are inconsistent with the
4 provisions of this resolution are hereby repealed to the extent of such inconsistency.
5 ADOPTED: February 21,2023
6 ATTE '. APPROVED:
7 IV
P/1"
8 ��!'A
9 usa ity Clerk Frank Scott,Jr.,11aQ
10 APPRO'"`i • 0 LEGAL FORM:
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12 4(..
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13 Thomas M. Carpenter City rney
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