HomeMy WebLinkAbout15978 1 RESOLUTION NO. 15,978
2
3 A RESOLUTION AUTHORIZING THE MAYOR TO ENTER INTO A
4 CONTRACT WITH FRANCISCO ESPINOZA FOR THE PURCHASE OF
5 APPROXIMATLEY THREE (3) ACRES OF LAND AND TWO (2)
6 MANUFACTURED HOMES, FOR USE BY THE LITTLE ROCK PORT
7 AUTHORITY FOR ECONOMIC PROSPECT RECRUITMENT; AND FOR
8 OTHER PURPOSES.
9
10 WHEREAS,the City of Little Rock,Arkansas,through its 2022 Bond Refinancing Initiative,set aside
11 money for the specific purpose of expanding the real estate holdings of the Little Rock Port Authority;and,
12 WHEREAS, the Little Rock Port Authority has been actively exploring opportunities for expansion,
13 including the development of a 2008 Master Real Estate Acquisition Plan;and,
14 WHEREAS, the Little Rock Port Authority Staff has worked with the Greater Little Rock Regional
15 Chamber of Commerce,and other interested parties,to explore viable options for real estate expansion and
16 determined that this particular parcel will meet the future needs of the Little Rock Port Authority for
17 Economic Prospect Recruitment Purposes, and,
18 WHEREAS,the Little Rock Port Authority Staff has extended a preliminary offer,based upon a third-
19 party appraisal, for the property in question and the offer has been accepted by the owner.
20 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
21 OF LITTLE ROCK:
22 Section 1. The City of Little Rock Board of Directors authorizes the Mayor to purchase approximately
23 three (3) acres of land for a purchase price of One Hundred Sixty Thousand Dollars ($160,000.00), plus
24 associated closing cost, and is contingent upon positive findings of the Phase One Environmental Study
25 and determination of clear title. The property is located at 9404 Young Road,Little Rock,Arkansas 72206,
26 more specifically:
27 PART OF THE SE1/4 NW 1/4 SECTION 34,T-1-N,R-11-W,PULASKI COUNTY,ARKANSAS,
28 MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SE
29 CORNER OF SAID SE1/4 NW1/4, THENCE NORTH ALONG THE EAST LINE OF SAID
30 SE1/4 NW 1/4,A DISTANCE OF 256.70';THENCE WEST 263.70'TO A POINT LOCATED AT
31 SOUTH WEST CORNER OF PROPERTY DESCRIBED IN WARRANTY DEED
32 INSTRUMENT NO. 2017023991, RECORDS OF PULASKI COUNTY, SAID POINT ALSO
33 BEING THE POINT OF BEGINNING; THENCE CONTINUING WEST 630.30'; THENCE
34 N06°38'00"E-208.70; THENCE EAST 630.30'; TO THE NORTHWEST CORNER OF
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1 PROPERTY DESCRIBED IN WARRANTY DEED INSTRUMENT NUMBER 2017023991,
2 RECORDS OF PULASKI COUNTY; THENCE S06°38'00"W-208.70', BACK TO THE POINT
3 OF BEGINNING. CONTAINING 3.00 ACRES, MORE OR LESS.
4 Section 2. Funding for this acquisition will come from the City's 2022 Bond Account.
5 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase or
6 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
7 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
8 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
9 resolution.
10 Section 4. Repealer.All laws ordinances resolutions or parts of the same that are inconsistent with the
11 provisions of this resolution are hereby repealed to the extent of such inconsistency.
12 ADOPTED: May 2,2022
13 A • 10 APPROVED:
14 4 11
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15 aril�■` "
16 'us: 'i• • ,City Clerk rank cott,
17 APPR•••• ' : AS TO LEGAL FORM:
18 19 1140Zsti/ /
20 Thomas M.Carpenter,City At /ney
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