HomeMy WebLinkAbout17014 1 RESOLUTION NO. 17,014
2
3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ENTER INTO A
4 CONTRACT WITH JOHNNY L. AND PEGGY A. ROBINSON FOR THE
5 PURCHASE OF APPROXIMATLEY FIVE (5) ACRES OF LAND AND A
6 RESIDENTIAL STRUCTURE, FOR USE BY THE LITTLE ROCK PORT
7 AUTHORITY FOR ECONOMIC PROSPECT RECRUITMENT; AND FOR
8 OTHER PURPOSES.
9
10 WHEREAS, the Little Rock Port Authority has been actively exploring opportunities for
11 expansion for the past eight years,and,
12 WHEREAS, the Little Rock Port Authority staff have worked with the Greater Little Rock
13 Chamber of Commerce,and other interested parties,to explore viable options for real estate expansion and
14 determined that this particular parcel will meet the future needs of the Little Rock Port Authority,and,
15 WHEREAS, the Little Rock Port Authority staff have extended a preliminary offer, based upon
16 recent land acquisitions made by the Little Rock Port Authority, for the property in question and the offer
17 has been accepted by the owner.
18 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
19 CITY OF LITTLE ROCK:
20 Section 1. The City of Little Rock Board of Directors authorizes the Mayor to purchase approximately
21 five(5)acres of land and a residential structure FOR THE USE OF THE Little Rock Port Authority for a
22 purchase price of one hundred and sixty thousand dollars ($160,000), plus associated closing costs. The
23 property is located at:
24 Description: 10500 Harper Road,Little Rock,Arkansas,72206;Parcel Number
25 25R0034901400 described as part of Tract 6, Keatts' Subdivision of Part of
26 Sections 3 and 10,Township 1 South,Range 11 West,Pulaski County,Arkansas,
27 more particularly described as follows:
28 Commence at the Northwest corner of said Tract 6; thence East 506.8 feet to
29 the point of beginning; thence South 751.5 feet to Centerline of Spann Road;
30 thence North 65 degrees 19 minutes East along centerline of said Road, 136.2
31 feet; thence North 70 degrees 14 minutes East along centerline of said Road,
32 131.3 feet; thence North 58 degrees 28 minutes East along centerline of said
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1 Road,94.7 feet;thence North 598.1 feet to a point on the North line of said tract
2 6; thence West 326.3 feet to the point of beginning.
3 Section 2. Funding for this acquisition will come from the Little Rock Port Authority.
4 Section 3. This transaction will include an initial payment of $700,000 and then three annual
5 payments of$ 187,054.91, which includes a six(6%)percent interest rate, until the property is fully paid
6 off. The Little Rock Port Authority has the option to pay off the property early.
7 Section 4. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase or
8 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
9 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
10 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
11 resolution.
12 Section 5. Repealer.All laws ordinances resolutions or parts of the same that are inconsistent with the
13 provisions of this resolution are hereby repealed to the extent of such inconsistency.
14 ADOPTED: April 7,2026
15 ATTEST: APPROVED:
16
17 AV1061A.
18 Allison Segars,City C rk Frank Scott,Jr.,Mayor
19 APPROVED AS TO LEGAL FORM:
20
21 !'/ / • L�
22 Thomas M.Carpenter,City Attorney
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