HomeMy WebLinkAbout16284 1 RESOLUTION NO. 16,284
2
3 A RESOLUTION TO AUTHORIZE MAYOR AND CITY CLERK TO
4 ENTER INTO AN AGREEMENT WITH LEXICON, INC., OR ITS
5 ASSIGNEE, IN THE AMOUNT OF TWO MILLION, SIX HUNDRED
6 DOLLARS ($2,600,000.00), PLUS ASSOCIATED CLOSING COSTS, TO
7 SELL APPROXIMATELY FIVE (5) ACRES OF LAND AND A 40,000
8 SQUARE-FOOT BUILDING,LOCATED AT 7773 SLOAN DRIVE,LITTLE
9 ROCK, PULASKI COUNTY, ARKANSAS, BY THE CITY OF LITTLE
10 ROCK, ARKANSAS, FOR THE BENEFIT OF THE LITTLE ROCK PORT
11 AUTHORITY; AND FOR OTHER PURPOSES.
12
13 WHEREAS, the Little Rock Port Authority markets land for economic development purposes and
14 encourages industry to locate at the Port of Little Rock; and,
15 WHEREAS, the Little Rock Port Authority recently developed a Master Growth Plan that identified
16 various industry segments that would be good industry partners; and,
17 WHEREAS, Lexicon, Inc., has approached the Little Rock Port Authority about buying the property
18 located at 7773 Sloan Drive, consisting of five (5) acres of land and a 40,000 square-foot building, to
19 accommodate a planned business expansion.
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 authorize the Mayor and City Clerk to enter
23 into a Real Estate Contract to sell approximately five (5) acres of land and a 40,000 square-foot building,
24 to Lexicon, Inc., for Two Million, Six Hundred Thousand Dollars ($2,600,000.00), which is more
25 particularly described as:
26 7773 Sloan Drive, Little Rock, Pulaski County, Arkansas.
27 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase,or word
28 of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or adjudication
29 shall not affect the remaining portions of the resolution, which shall remain in full force and effect as if the
30 portion so declared or adjudged invalid or unconstitutional were not originally a part of the resolution.
3 I Section 3. Repealer. All laws ordinances resolutions or parts of the same that are inconsistent with the
32 provisions of this resolution are hereby repealed to the extent of such inconsistency.
33 ADOPTED: April 2,2024
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1 APPROVED:
Apt
4 u•an .anS ity Clerk Frank Scott,Jr., ayor�
5 AP' 'O I S TO LEGAL FORM:
7 / i��A'i-v�-� l,t/t • �/
/
8 Thomas M. Carpenter,City Atto 1111•y
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