HomeMy WebLinkAbout16706 1 RESOLUTION NO. 16,706
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER AND MAYOR
4 TO ENTER INTO A CONTRACT AND EXECUTE THE NECESSARY
5 DOCUMENTS WITH ARKANSAS TEACHER RETIREMENT SYSTEM,
6 IN THE AMOUNT OF SEVEN HUNDRED THOUSAND DOLLARS
7 ($700,000.00),PLUS APPLICABLE CLOSING COSTS, TAXES,AND FEES,
8 FOR THE PURCHASE OF THE BUILDING AND PROPERTY LOCATED
9 AT 1200 WEST 3RD STREET, LITTLE ROCK, PULASKI COUNTY,
10 ARKANSAS, 72201 TO HOUSE THE LITTLE ROCK POLICE
11 DEPARTMENT'S EVIDENCE & PROPERTY DIVISION; AND FOR
12 OTHER PURPOSES.
13
14 WHEREAS, the Little Rock Police Department ("LRPD") has a need to relocate its Property &
15 Evidence Division,due to the City of Little Rock's(the"City")plans to demolish the current District Courts
16 building located at 600 West Markham Street,Little Rock,AR 72201;and,
17 WHEREAS,a diligent search of available real estate properties was conducted,and it was determined
18 that the building and property located at 1200 West 3'd Street, Little Rock, Pulaski County,AR, 72201,
19 currently owned by the Arkansas Teacher Retirement System ("ATRS"), would provide suitable secure
20 storage space for the Property&Evidence Division, in addition to more office space for LRPD personnel;
21 and,
22 WHEREAS,ATRS accepted the City's offer,based upon a third-party appraisal of 1200 West 3rd Street
23 property;and,
24 WHEREAS,pursuant to Ark.Code Ann. § 14-54-302,the City is required to approve the purchase of
25 property by resolution.
26 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
27 OF LITTLE ROCK,ARKANSAS;
28 Section 1.The City Board of Directors authorizes the City Manager and Mayor to enter into a contract
29 and execute all necessary documents with the Arkansas Teacher Retirement System to secure the purchase
30 of 1200 West 3'd Street, Little Rock, Pulaski County, AR, 72201 for the amount of Seven Hundred
31 Thousand Dollars($700,000.00), including applicable closing costs,taxes and fees.
32 Section 2. The formal legal description for this property shown in Exhibit A to this resolution is as
33 follows:
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1 Part of Lots 3,4, 5,and 6, and all of Lots 7, 8, 9, and 10 in Block 301 in the Original City
2 of Little Rock, Pulaski County,Arkansas
3 Section 3. Funding for this acquisition will come from Little Rock Police Department's Special
4 Account No. 108529-72510-S52C460.
5 Section 4. 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 5.Repealer.All laws, ordinances, resolutions, or parts of the same,that are inconsistent with
11 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
12
13 Exhibit A
14 Lot 7 and the South ''/2 of Lot 8, Block 300;the North 45 feet of Lotl, Block 301;
15 Lots 7, 8,9,and 10, Block 301; Lots 1,2, and 3, Block 294; Lot 9 and the South 100 feet
16 of Lots 7 and 8, Block 295;the East one foot of the North 37 feet of Lot 3;the East 16
17 feet of South 13 feet of Lot 3;the Eat 16 feet of Lot 4;the East 16 feet of the North 11
18 feet of Lot 5;the East 5 feet of the South 39 feet of Lot 5;the East 5 feet of Lot 6; Block
19 301: all in the Original City of Little Rock,Arkansas.
20
21 ADOPTED: May 20,2025
22 ATTEST: APPROVED:
23
24
25 kl V
26 Allison Segars,City an , ., ayor
27 APPROVED AS TO LEGAL FORM:
28
29 kilA`4."? 'l/t '
30 Thomas M.Carpenter,City Attor y
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