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Home My WebLink About16140 1 RESOLUTION NO. 16,140 2 3 A RESOLUTION TO AUTHORIZE THE MAYOR AND CITY CLERK TO 4 ENTER INTO AN AGREEMENT WITH THE ARKANSAS DEPARTMENT 5 OF TRANSPORTATION FOR THE ALIENATION OF RIGHT-OF-WAY 6 ASSOCIATED WITH THE DILLARD'S PROJECT, LOCATED AT 1600 7 CANTRELL ROAD; AND FOR OTHER PURPOSES. 8 9 WHEREAS, the City of Little Rock, Arkansas ("City"), approved the issuance of industrial 10 development bonds to finance certain facilities for Dillard's, Inc., a Delaware corporation, which would 11 locate the headquarters for this company at 1600 Cantrell Road within the City pursuant to Little Rock, 12 Ark.,Ordinance No. 18,382(October 17,2000);and, 13 WHEREAS, pursuant to these Development Bonds, title to the property is within the City until the 14 Bonds are repaid;and, 15 WHEREAS, because of work being performed by the Arkansas Department of Transportation 16 ("ArDOT")on Cantrell Road,it is necessary to convey certain portions of the right-of-way to ArDOT;and, 17 WHEREAS, after careful negotiations, an agreement has been entered through which ArDOT would 18 pay the amount of Twenty-Eight Thousand, Eight Hundred Fifty Dollars ($28,850.00) for the property to 19 Dillard's;and, 20 WHEREAS,pursuant to Ark. Code Ann. § 14-54-302 (West Supp.2023),a resolution is required for 21 the City to alienate its interest in this property. 22 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 23 OF LITTLE ROCK,ARKANSAS: 24 Section 1. The Mayor and City Clerk are authorized to execute any documents,acceptable to the City 25 Attorney,the convey a portion of land currently titled in the name of the City,but which is promised to be 26 deed to Dillard's, Inc., at the conclusion of Revenue Bond payments, as set forth in Exhibit 1 to this 27 resolution. 28 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 29 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or 30 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and 31 effect as if the portion so declared or adjudged invalid or unconstitutional was not originally a part of the 32 resolution. 33 Section 3. Repealer. All laws,ordinances,resolutions,or parts of the same that are inconsistent with 34 the provisions of this ordinance are hereby repealed to the extent of such inconsistency. (Page 1 of 5] I PASSED: October 17,2023 2 APPROVED: 3 41.. 4 ��_S (`= 5 us. i g • , ity Clerk Frank Scott,Jr., ayor 6 AP• 'OVED • 0 LEGAL FORM: 7ll ' g i 'w`�- Wl 9 Thomas M. Carpenter,City Attorn y 10 // 11 // 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // 36 // 1Page 2 of 51 1 Exhibit A 2 3 Job 061454 4 Pulaski COUNTY 5 6 AGREEMENT FOR COMPENSATION 7 WHEREAS, the undersigned City of Little Rock, Arkansas, the owner of certain property described 8 as landscaping located on property being acquired by the Arkansas State Highway Commission as Job 9 061454 Tract 11-Landscaping from City of Little Rock, owners of said tract, a legal description of which 10 is attached as page 2; and, 11 WHEREAS, it has been determined that the value of said property in the right-of-way being acquired 12 by the Commission is Twenty-Eight Thousand, Eight Hundred Fifty Dollars ($28,850.00) less the salvage 13 value of Zero Dollars ($0.00) equals Twenty-Eight Thousand, Eight Hundred Fifty Dollars ($28,850.00) 14 and that the undersigned is entitled to said sum. 15 THEREFORE,I,Frank Scott Jr.,Mayor,as authorized by owner of the described property agree 16 to: 17 X Retain said property and remove it from the right-of-way by thirty(30)days after payment. 18 (Please note that re-erection of an "off premise" sign requires a new permit issued by the 19 Arkansas Department of Transportation, Right-of-Way Division) 20 X Give possession of said property at closing and accept the aforesaid as full payment; and I 21 hereby release the Commission from further claim for reimbursement in connection with 22 said property. 23 24 WITNESS my signature this day of October,2023 25 26 Signature: 27 Frank Scott,Jr., Mayor 28 29 Name(print): Frank Scott,Jr.,Mayor 30 Address: 500 West Markham Street,2" Floor 31 Little Rock,AR 72201 32 33 34 35 'Page 3 of 51 1 ARKANSAS STATE HIGHWAY COMMISSION ARDOT Representative/Acq. Agent 2 APPROVED BY: 3 4 5 (Printed Name) 6 7 8 Division Head,Right-of-Way Division 9 10 Legal Description 11 12 Part of Lot 1, Dillard's Addition, being in the Northeast Quarter of Section 4, Township 1 North, 13 Range 12 West,Pulaski County,Arkansas, more particularly described as follows: BEGINNING at 14 a 1.25-inch rebar being used as the southwest corner of Lot 1, Dillard's Addition recorded in Deed 15 Record Book D, Page 788; said point being on the northerly right-of-way line of Arkansas State 16 Highway 10 (Cantrell Road) as established by Arkansas Highway and Transportation Department 17 (AHTD)Job 6678; thence North 02°12' 15" East a distance of 47.88 feet to a point on the northerly 18 right-of-way line of Arkansas State Highway 10 (Cantrell Road) as established by Arkansas 19 Department of Transportation (ArDOT)Job 061454; thence South 57°17' 12" East along said right- 20 of-way line a distance of 55.01 feet to a point; thence South 68°50'03" East along said right-of-way 21 line a distance of 80.16 feet to a point; thence South 73°20'42" East along said right-of-way line a 22 distance of 82.26 feet to a point; thence South 79°58'25" East along said right-of-way line a distance 23 of 107.84 feet to a point on the northerly right-of-way line of Arkansas State Highway 10 (Cantrell 24 Road) as established by AHTD Job 6678; thence North 84°01 '38" West along said right-of-way line 25 a distance of 118.61 feet to a point; thence North 77°51 '53" West along said right-of-way line a 26 distance of 194.26 feet to the point of beginning and containing 4,833 square-feet more or less as 27 shown on plans prepared by ArDOT and referenced as Job 061454. 28 29 JB 12/13/19 30 31 X Uncontrolled Access 32 Partially Controlled Access- Access break from Station to Station 33 Fully Controlled Access 34 Fully Controlled Access with a frontage road 35 Maintenance Agreement l Page 4 of 5l 1 PREAUDITED AND ACCEPTED: Property Manager to Negotiator 2 3 By: Date: 4 // 5 // 6 // 7 // 8 // 9 // 10 // 11 // 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // 'Page 5 of 51