HomeMy WebLinkAbout16260 1 RESOLUTION NO. 16,260
2
3 A RESOLUTION TO AMEND RESOLUTION NO. 16,140 (OCTOBER 17,
4 2023), TO AUTHORIZE THE MAYOR TO ENTER INTO A CONTRACT
5 TO SELL REAL ESTATE FOR HIGHWAY PURPOSES AND TO
6 TRANSFER OWNERSHIP OF REAL PROPERTY FROM THE CITY OF
7 LITTLE ROCK, ARKANSAS, TO THE ARKANSAS DEPARTMENT OF
8 TRANSPORTATION, WITH PROCEEDS OF THE LAND SALE TO BE
9 DISTRIBUTED TO DILLARDS, INC., IN THE AMOUNT OF ONE
10 HUNDRED AND TWENTY THOUSAND DOLLARS ($120,000.00); AND
11 FOR OTHER PURPOSES.
12
13 WHEREAS,the City of Little Rock Board of Directors approved Resolution No. 16,140(October 17,
14 2023)authorizing the Mayor and City Clerk to execute any documents, acceptable to the City Attorney,to
15 convey property from the City of Little Rock ("City") to the Arkansas Department of Transportation
16 (ArDOT)for the purposes of the Gill Street and Railroad Overpass,+more particularly described as:
17 Part of Lot 1, Dillard's Addition, being in the Northeast Quarter of Section 4,Township 1
18 North, Range 12 West, Pulaski County, Arkansas, more particularly described as follows:
19 beginning at a 1.25-inch rebar being used as the southwest corner of Lot 1, Dillard's
20 Addition recorded in Deed Record Book D, Page 788; said point being on the northerly
21 right-of-way line of Arkansas State Highway 10 (Cantrell Road) as established by
22 Arkansas Highway and Transportation Department(AHTD) Job No. 6678; thence North
23 02°12'15" East a distance of 47.88 feet to a point on the northerly right-of-way line of
24 Arkansas State Highway 10 (Cantrell Road) as established by ArDOT Job No. 061454;
25 thence South 57°17'12"East along said right-of-way line a distance of 55.01 feet to a point;
26 thence South 68°50'03"East along said right-of-way line a distance of 80.16 feet to a point;
27 thence South 73°20'42"East along said right-of-way line a distance of 82.26 feet to a point;
28 thence South 79°58'25" East along said right-of-way line a distance of 107.84 feet to a
29 point on the northerly right-of-way line of Arkansas State Highway 10(Cantrell Road)as
30 established by AHTD Job No.6678;thence North 84°01'38"West along said right-of-way
31 line a distance of 118.61 feet to a point;thence North 77°51'53" West along said right-of-
32 way line a distance of 194.26 feet to the point of beginning and containing 4,833 square-
33 feet, more or less, as shown on plans prepared by ArDOT and referenced as Job No.
34 061454.
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1 WHEREAS, pursuant to Little Rock, Ark., Ordinance No. 18,382 (October 17, 2000), the City
2 approved the issuance of Industrial Development Bonds to finance certain facilities for Dillard's Inc., a
3 Delaware corporation,which would locate the headquarters for this company at 1600 Cantrell Road within
4 the City of Little Rock,Arkansas;and,
5 WHEREAS, pursuant to the Industrial Development Bonds, title to the property will remain in the
6 ownership of the City until the Bonds are repaid; and,
7 WHEREAS,due to the work being performed by ArDOT on Cantrell Road, it is necessary to convey
8 certain portions of the right-of-way to ArDOT; and,
9 WHEREAS,after careful negotiations, an agreement has been entered through which ArDOT would
10 pay the amount of One Hundred Twenty Thousand Dollars($120,000.00)to Dillard's Inc.,for the property;
11 and,
12 WHEREAS,pursuant to Ark. Code Ann. § 14-54-302(West Supp. 2023),a resolution is required for
13 the City to alienate its interest in this property.
14 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
15 OF LITTLE ROCK,ARKANSAS:
16 Section 1. The Mayor and City Clerk are authorized to execute any documents,acceptable to the City
17 Attorney,to convey a portion of land currently titled in the name of the City, but which is contracted to be
18 deeded to Dillard's Inc., at the conclusion of the Revenue Bond payments,
19 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
20 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
21 adjudication shall not affect the remaining portions of the resolution, which shall remain in full force and
22 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
23 resolution.
24 Section 3. Repealer. All laws,ordinances,resolutions, including but not limited to Little Rock,Ark.,
25 Ordinance No. 18,382(October 17,2000)and Little Rock,Ark. Resolution No. 16,140(October 17,2023),
26 or parts of the same,that are inconsistent with the provisions of this resolution, are hereby repealed to the
27 extent of such inconsistency.
28 ADOPTED: March 19,2024
29 ATTES.-: APPROVED:
30 4410,k p
31 �iIh....a_
32 :usan a.g • ,PC Clerk Frank Scott,Jr.;Mayui
33 APPRO - ' AS TO LEGAL FORM:
34
35 ifs Gu • /
36 Thomas M. Carpenter,City Attorn
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