HomeMy WebLinkAbout16480 1 RESOLUTION NO. 16,480
2
3 A RESOLUTION TO AUTHORIZE THE MAYOR AND CITY CLERK TO
4 EXECUTE ANY DOCUMENTS NECESSARY TO CONVEY
5 APPROXIMATELY FIFTY (50) ACRES OF PROPERTY LOCATED AT
6 THE PORT OF LITTLE ROCK TO THE FAYMONVILLE GROUP FOR
7 ECONOMIC DEVELOPMENT,AND FOR OTHER PURPOSES.
8
9 WHEREAS, the Little Rock Port Authority markets land for economic development purposes and
10 encourages industry to locate at the Port of Little Rock; and,
11 WHEREAS,after a lengthy selection process,the Faymonville Group approached the Little Rock Port
12 Authority about locating their manufacturing operations on a filly(50)-acre site at the Port of Little Rock;
13 and,
14 WHEREAS,the Faymonville Group.has committed to invest over One-Hundred and Twenty Million
15 Dollars($120,000,000),and over the course of five(5)years,employ 500 individuals at an average annual
16 salary of$46,800;and
17 WHEREAS, the Little Rock Port Authority has worked closely with the Arkansas Economic
18 Development Commission and the Little Rock Regional Chamber of Commerce to develop an incentive
19 package to allow the City of Little Rock to effectively compete for the international manufacturer; and
20 WHEREAS, the Little Rock Port Authority has incorporated certain claw back provisions and
21 employment provisions into the land conveyance document that will ensure the Little Rock Port Authority
22 is appropriately compensated if certain requirements are not met by the Faymonville Group; and
23 WHEREAS,pursuant to Ark. Code ANN. 14-54-302 (West Supp.2019) a resolution is necessary to
24 accomplish such a transfer of municipal property.
25 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
26 OF LITTLE ROCK,ARKANSAS:
27 Section 1. The Mayor and the City Clerk are authorized to execute any necessary documents, in a
28 form acceptable to the City Attorney,for conveyance of approximately fifty(50)-acres of land at the Port
29 of Little Rock,more particularly described as follows:
30 53.07 ACRES BEING A PORTION OF THE SW1/4 SW1/4 AND THE SE1/4 SW1/4
31 OF SECTION 21, T-1-N, R 11-W, PULASKI COUNTY, ARKANSAS; MORE
32 PARTICULARLY DESCRIBED AS FOLLOWS:
33 COMMENCING AT THE SOUTHWEST CORNER OF SAID SW1/4 SW1/4,
34 THENCE S88°46'40"E ALONG THE SOUTH LINE OF SAID SECTION 21, A
35 DISTANCE OF 35.20' TO THE POINT OF BEGINNING; THENCE LEAVING
1 SAID SOUTH LINE, N01°57'17"E-983.03'; THENCE S88°03'04"E-2116.26';
2 THENCE S01°33'45"W-111.12';THENCE SO4°47'43"W-31.94';THENCE ALONG
3 THE ARC OF A 186.00' RADIUS CURVE TO THE LEFT, HAVING AN ARC
4 LENGTH OF 165.66' AND CHORD OF S22°34'26"E-160.24'; THENCE
5 S49°18'04"E-123.22';THENCE S47°20'08"E-395.21';THENCE S35°40'45"E-88.23'
6 TO A POINT ON THE EAST LINE OF SAID SE1/4 SW1/4;THENCE S01°51'11"W,
7 ALONG SAID EAST LINE, A DISTANCE OF 256.64' TO THE SOUTHEAST
8 CORNER OF SAID SE1/4 SW1/4; THENCE N88°45'00"W,ALONG THE SOUTH
9 LINE OF SAID SECTION 21,A DISTANCE OF 1228.79';THENCE CONTINUING
10 ALONG SAID SOUTH LINE,N88°46'40"W-1403.39'; BACK TO THE POINT OF
11 BEGINNING.
12
13 Section 2. Severabiliry. In the event any title,section,paragraph,item,sentence, clause,phrase,or
14 word of this Resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
15 adjudication shall not affect the remaining portions of this Resolution which shall remain in full force and
16 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally part of this
17 Resolution.
18 Section 3. Repealer. All laws,ordinances,resolutions, or parts of the same which are inconsistent
19 with the provisions of this Resolution are hereby repealed to the extent of such inconsistency.
20 ADOPTED: October 29,2024
21 ATTEST: APPROVED:
22 •
23 1
24 Allison Segars,Ac ity Clerk rank Scott,Jr.,Mayor
25 APPROVED AS TO LEGAL FORM:
26
27 ilAkel.A41 r
28 Thomas M.Carpenter,CityAttor
P y
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