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RESOLUTION No. 9,306
A RESOLUTION AUTHORIZING THE CITY TO SELL A
TRACT OF LAND ABUTTING CHENAL PARKWAY FOR
PRIVATE REAL ESTATE DEVELOPNENT.
WHEREAS, the City of Little Rock acquired parcels of
property on Chenal Parkway to be used as right -of -way for
construction of the Parkway; and
WHEREAS, WHEREAS, Belz- Burrow II, a Tennessee Limited
Partnership (Belz- Burrow) has requested that the City sell one
of the parcels of property which is outside of the right -of -way,
located on the north side of Chenal Parkway east of Bowman Road,
to use for private development; and
WHEREAS, the property requested for purchase is
approximately 22,041 square feet from portions of Lots 20 and 21
of Montclair Heights Subdivision (Part II) and;
WHEREAS, Belz- Burrow has offered to pay $4.00 per square
foot for the acquisition; and
WHEREAS, the City staff has determined that the parcel is
not needed for right -of -way purposes; that the highest and best
use of the parcel is for assemblage with adjacent parcels and
that it must be rezoned for such use; that $4.00 per square
foot is a reasonable price for the sale of the property; and
that the City has no present or future public use or need of the
property proposed to be sold.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The Mayor and City Clerk are hereby authorized
to execute a deed in a form acceptable to the City Attorney,
conveying certain lands totalling approximately 22,041 square
feet described in the survey attached hereto as Exhibit "A ", to
Belz- Burrow for the price of $4.00 per square foot.
SECTION 2. The proceeds from the sale of the property shall
be deposited into the right -of -way acquisition account No.
210 - 220 -0028.
ADOPTED: January 3, 1995
ATTEST:
• IE •
CITY CLERK
APPROVED:
JIM /DAILEY
NAY R
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PROPERTY DESCRIPTION
Part of Lots 20, 21 and 27, Montclair Heights Subdivision (Part ll), Little Rock,
Pulaski County, Arkansas, more particularly described as:
BEGINNING at the Northeast corner of said Lot 21; thence South 00° 21' 31"
East along the West right -of -way line of Alhambra Drive for a distance of 166.77
feet to a point on the proposed Northerly right -of -way line of Chenal Parkway;
thence along said proposed right -of -way line along a curve to the left having a
radius of 1165.92 feet, an arc distance of 303.48 feet, and a chord which bears
North 56 ° 05' 35" West for a distance of 302.62 feet to a point on the South
right -of -way line of Bristol Drive; thence along said right -of -way line South 89°
31'49" East 250.12 feet to the POINT OF BEGINNING, containing 0.433 acres,
more or less.
EXHIBIT "A"
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BELZ • BURROW CHENAL PARKWAY AT AUTUMN ROAD
"E' "" DEVELOPMENT LITTLE ROCK ARKANSAS
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