HomeMy WebLinkAbout16927 1 RESOLUTION NO. 16,927
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3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO EXECUTE
4 AN ASSIGNMENT AND ASSUMPTION OF LEASES AGREEMENT
5 BETWEEN THE CITY OF LITTLE ROCK, AND KHLP 525, LLC, AND
6 SLFJR 525, LLC;AND FOR OTHER PURPOSES.
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8 WHEREAS,the City of Little Rock,Arkansas(the"City")entered into an agreement with KDHLP
9 525 LLC/SLFJR 525 LLC ("assignors") to purchase real properties located at 525 West Capitol Avenue;
10 Parcel Number 34L0200607500, and 600 West 6th Street; Parcel Number 34L0205700200, Little Rock,
11 Pulaski County,AR, 72201 as authorized by Resolution No. 16,852(October 21,2025); and,
12 WHEREAS, the assignors have existing leases and/or tenancy agreements associated with the
13 properties purchased by the City and,
14 WHEREAS, an agreement for the assignment and assumption of these leases by the City is now
15 required; and,
16 WHEREAS,it is in the best interest of the City of Little Rock to authorize execution of the Assignment
17 and Assumption Agreement(Exhibit A).
18 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
19 OF LITTLE ROCK,ARKANSAS:
20 Section 1. The City Manager is hereby authorized and directed to execute an Assignment and
21 Assumption of Leases Agreement between the City of Little Rock,Arkansas,and,KDHLP 525 LLC/SLFJR
22 525 LLC in a form approved by the City Attorney.
23 Section 2. The City Manager, Mayor, and City Clerk are further authorized to execute any and all
24 documents and take such other actions as may be necessary to carry out the intent of this Resolution.
25 Section 4.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 was not originally a part of the resolution.
29 Section 5. Repealer. All laws,ordinances,resolutions,or parts of the same,that are inconsistent with
30 the provisions of the is resolution,are hereby repealed to the extent of such inconsistency.
31 ADOPTED: January 6,2026
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1 ATTEST: APPROVED:
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3 AcXJIO
4 Allison Segars,City k Frank Scott,Jr.,Mayor
5 APPRO D AS TO LEGAL FORM:
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7 Lti44-ywr7 'fit_
8 Thomas M. Carpenter,City Attorney
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