HomeMy WebLinkAbout16944 1 RESOLUTION NO. 16,944
2
3 A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO RATIFY
4 AND EXTEND THE LEASE AGREEMENT FOR AN ADDITIONAL TEN
5 (10) YEARS, COMMENCING MAY 1, 2031, FOR THE PURPOSE OF
6 FINANCING RENOVATIONS TO PROPERTY LOCATED AT 300 EAST
7 ROOSEVELT ROAD, LITTLE ROCK, ARKANSAS, WHICH PROVIDES
8 OFFICE SPACE FOR THE LITTLE ROCK POLICE DEPARTMENT'S
9 DOWNTOWN DIVISION;TO PROVIDE THAT ALL OTHER TERMS AND
10 CONDITIONS OF THE LEASE SHALL REMAIN THE SAME AS SET
11 FORTH IN LITTLE ROCK,ARK., RESOLUTION NO. 15,610; AND FOR
12 OTHER PURPOSES.
13
14 WHEREAS, the City of Little Rock Board of Directors previously authorized a lease
15 agreement for property located at 300 East Roosevelt Road, Little Rock,Arkansas, pursuant to Little
16 Rock, Arkansas Resolution No. 15,610, (January 18, 2022) authorizing a ten (10)-year lease term
17 effective May 1,2021 through and including April 30,2031 for office space for the Little Rock Police
18 Department's Downtown Division; and,
19 WHEREAS,the leased property continues to serve a critical public safety function by housing
20 the Little Rock Police Department's Downtown Division; and,
21 WHEREAS, it is necessary and desirable for VA Properties, LLC ("Lessor") to obtain
22 financing for additional renovations and improvements to the property located at 300 East Roosevelt
23 Road in order to maintain and enhance its suitability for continued use by the Little Rock Police
24 Department; and,
25 WHEREAS, extending the existing lease for an additional ten (10) years, commencing May
26 1, 2031, will facilitate the financing of such renovations while ensuring the continued occupancy of
27 the property by the City; and,
28 WHEREAS,the Board of Directors finds that it is in the best interest of the City of Little Rock
29 to authorize the City Manager to enter into a lease extension under the same terms and conditions as
30 those set forth in Resolution No. 15,610 with the,except for the extended term and clarification of the
31 name of the Lessor as"VA Properties, LLC".
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1 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
2 CITY OF LITTLE ROCK,ARKANSAS:
3 Section 1. The City Manager is hereby authorized to enter into a lease extension with VA
4 Properties, LLC for the property located at 300 East Roosevelt Road, Little Rock,Arkansas, for an
5 additional term of ten (10)years, commencing May 1, 2031, for the purpose of financing renovations
6 to the property and continuing its use as office space for the Little Rock Police Department's
7 Downtown Division.
8 Section 2.All other terms and conditions of the lease,as previously authorized by Little Rock,
9 Arkansas Resolution No. 15,610, shall remain unchanged and in full force and effect.
10 Section 4.The amendment to the Lease Agreement between VA Properties, LLC and the city of
11 Little Rock is hereby ratified, extended and approved, and all actions taken in connection therewith are
12 confirmed and approved in all respects.
13 Section 5. Severability. In the event any title, section, paragraph, item, sentence, clause,
14 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
15 declaration or adjudication shall not affect the remaining portions of the resolution which shall remain
16 in full force and effect as if the portion so declared or adjudged invalid or unconstitutional were not
17 originally a part of the resolution.
18 Section 6. Repealer. All laws, ordinances, resolutions, or parts of the same, that are
19 inconsistent with the provisions of this resolution, are hereby repealed to the extent of such
20 inconsistency.
21 ADOPTED: January 20,2026
22 ATTEST: APPROVED:
23 •
24
MAW-
25 Allison Segars,City 6. Frank Scott,Mayor
26 APPROVED AS TO LEGAL FORM:
27
28
29 14. 4
30 Thomas M. Carpenter,City Atto ey
31 //
32 //
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