HomeMy WebLinkAbout16897 1 RESOLUTION NO. 16,897
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3 A RESOLUTION AUTHORIZING THE MAYOR TO ENTER INTO A
4 CONTRACT WITH STEEL PROPERTIES LAND COMPANY LLC FOR
5 THE PURCHASE OF APPROXIMATLEY THREE AND A HALF ACRES
6 OF LAND, FOR USE BY THE LITTLE ROCK PORT AUTHORITY; AND
7 FOR OTHER PURPOSES.
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9 WHEREAS, the Little Rock Port Authority, "The Authority," has been actively exploring
10 opportunities for expansion, including the development of a Master Real Estate Acquisition Plan; and,
11 WHEREAS, in conjunction with the Greater Little Rock Regional Chamber of Commerce, has
12 determined that this particular parcel will meet the future needs of the Authority for economic prospect
13 recruitment purposes,and,
14 WHEREAS, an offer has been extended by the Authority for the purchase of this property in
15 accordance with a third-party appraisal has been accepted;
16 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
17 OF LITTLE ROCK:
18 Section 1. The City of Little Rock Board of Directors authorizes the Mayor and City Clerk to execute
19 any documents necessary to purchase 3.5 acres of land for a purchase price of Three-Hundred Thousand
20 Dollars ($300,000), plus associated closing costs, contingent upon negative findings of the Phase One
21 Environmental Study and determination of clear title;the property is located at:
22 Thibault Road; Sec 16 TWP RNG 11WPT Known as Tract D area 203
23 The property parcel ID is 24L0140103805
24 Section 2. Funding for this acquisition will come from the Little Rock Port Authority.
25 Section 3.Severability.In the event any title,section,paragraph,item,sentence,clause,phrase,or word
26 of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or adjudication
27 shall not affect the remaining portions of the resolution which shall remain in full force and effect as if the
28 portion so declared or adjudged invalid or unconstitutional were not originally a part of the resolution.
29 Section 4.Repealer.All laws ordinances resolutions or parts of the same that are inconsistent with the
30 provisions of this resolution are hereby repealed to the extent of such inconsistency.
31 ADOPTED: December 16,2025
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1 ATTEST: APPROVED:
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3 ALUAN1 14- 4.0 iC -..
4 Allison Seagars,Ci erk Frank Scott,Jr.,Mayor
5 APPROVED AS TO LEGAL FORM:
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7 �a2�L�LL.0 W(. ' Lt
8 Thomas M.Carpenter,City Attorney
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