HomeMy WebLinkAbout16896 1 RESOLUTION NO. 16,896
2
3 A RESOLUTION TO AUTHORIZE ENTRY INTO A CONTRACT WITH
4 THE JANE M.BAUGUS LIMITED PARTNERSHIP FOR THE PURCHASE
5 OF APPROXIMATELY FIFTY (50) ACRES OF LAND, FOR USE BY THE
6 LITTLE ROCK PORT AUTHORITY; AND FOR OTHER PURPOSES.
7
8 WHEREAS,the Little Rock Port Authority, according to code §14-54-302 "The Authority"has been
9 actively exploring opportunities for expansion, including the development of a Master Real Estate
10 Acquisition Plan; and,
11 WHEREAS, in conjunction with Greater Little Rock Regional Chamber of Commerce and other
12 interested parties, to explore viable options for real estate expansion and determined that this particular
13 parcel will meet the future needs of the Little Rock Port Authority for economic prospect recruitment
14 purposes,and,
15 WHEREAS,an offer has been extended by The Authority for the purchase of property in accordance
16 with a third-party appraisal,and has been accepted by the owner,
17 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
18 OF LITTLE ROCK:
19 Section 1. The City of Little Rock Board of Directors authorizes the Mayor and City Clerk to execute
20 any document necessary to purchase fifty(50) acres of land for a purchase price of five-hundred and
21 seventeen thousand,five hundred dollars($517,500),plus associated closing cost,contingent upon
22 negative findings of the Phase One Environmental Study and determination of clear title; the
23 property is more particularly described as:
24 TH SE NE & THE NE 20 AC OF SW NE 29-1N-11W.
25 The property parcel ID is 24R0290000402.
26 Section 2. Funding for this acquisition will come from the Little Rock Port Authority.
27 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
28 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
29 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
30 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
31 resolution.
32
1 Section 4. Repealer. All laws, ordinances, resolutions or parts of the same that are inconsistent with
2 the provisions of this resolution are hereby repealed to the extent of such inconsistency.
3 ADOPTED: December 16,2025
4 ATTEST: APPROVED:
5
6 ALCOVI '2..../-. .A.„.14.
7 Allison Segars,City Frank Scott,Jr.,Mayor
8 APPROVED AS TO LEGAL FORM:
9 c:e4e(-
11 Thomas M.Carpenter,City Attorn y
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