HomeMy WebLinkAbout9902M M M M
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RESOLUTION NO. 9.902
A RESOLUTION TO AUTHORIZE THE MAYOR AND CITY CLERK TO 6
EXECUTE AGREEMENT TO EFFECT THE TRANSFER OF PROPERTY
IN THE RIVER MARKET FROM LITTLE ROCK NEWSPAPERS, INC., TO
THE CITY OF LITTLE ROCK, ARKANSAS; AND FOR OTHER PURPOSES
WHEREAS, as a part of the construction of the River Market building the City need to title
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to certain property owned by Little Rock Newspapers, Inc.; and
WHEREAS, condemnation was not required because the parties agreed that title would vest
in the City in exchange for various services including an agreement to provide a certain number of
parking places and an agreement that the City participate in the construction of a parking lot in the
vicinity; and
WHEREAS, Little Rock Newspapers, Inc., has agreed to deliver a general warranty deed
for the necessary property, the cost of the construction of a parking lot, except for $42,500.00, and
an executed agreement concerning twenty-two (22) parking places.
NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1: The Mayor and the City Clerk are authorized to execute and deliver any
documents necessary to effect the transfer of title to property in River Market by general warranty
deed from Little Rock Newspapers, Inc., to the City of Little Rock, Arkansas, and to sign any
additional agreements concerning parking, in substantially the form as that attached as Exhibits A
and B to this Resolution.
SECTION 2: Little Rock, Ark., Resolution 9,259 (October 18, 1994) is hereby amended
to the extent that the lease contained in Exhibit A to that resolution are in conflict with the
amendments attached as Exhibit A to this resolution.
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ADOPTED: January 21, 1997
ATTEST:
C n 1L &..." �G1'1ZCl�
ROBBIE HANCOCK
CITY CLERK
APPROVED AS TO FORM:
THOMAS M. CARPENTER
CITY ATTORNEY
APPROVED:
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0
J DAILEY
MAYOR
1�BTT "A'•
PARKING FACILITY ALLOCATION AGREEMENT
(RIVER MARKET PROPERTY OFFSET)
r-?q7 6$
This Agreement entered into this iU day of 19§fi, by and between Little Rock,
Newspapers, Inc., an Arkansas corporation ( "LRNI "), and the City of Little Rock, Arkansas, (the
"City").
WITNESSETH
WHEREAS, recognizing the various development efforts, including efforts by the City itself,
regarding the area of downtown Little Rock along and near Markham Street between LaHarpe
Boulevard and the Interstate 30 overpass, the City has constructed certain public parking facilities,
and
WHEREAS, the Museum Center Building, located at 500 E. Markham, Little Rock which
is owned by LRNI, is being renovated for use by the Museum of Science and History pursuant to
a long -term lease and, upon completion of the renovation to the Museum Center Building, LRNI
anticipates additional tenants ("Commercial Tenants' leasing space in the Museum Center Building,
and
WHEREAS, it is in the best interest of the healthy development of the area that adequate
proximate parking be made available to Commercial Tenants.
NOW, THEREFORE, in consideration of the mutual covenants and conditions expressed
herein, the parties do hereby agree as follows:
1. Parking Allocation.. The City agrees that, for the term of this Agreement, it shall
allocate and make available to LRNI for reallocation from time to time among the various tenants
of the Museum Center Building twenty-two (22) standard size parking spaces (the "Spaces ") in a
commercial style and grade parking facility, with such spaces to be located within two (2) city blocks
(as currently configured) of the Museum Center Building (a "Qualified Parking Facility").
2. Lease Relationship. It is agreed that the commercial arrangement with regard to the
lease and payments for the Spaces shall be between the City and LRNI, based upon the standard
rates charged by the City, if at all, for monthly or other regular or long -term leasing arrangements
for similar parking at the concerned Qualified Parking Facility. It is understood that the lessees of
the Spaces will be provided a pass or other identification or access control devices or other
arrangements as implemented by the City from time to time with regard to the concerned Qualified
Parking Facility and that the City will use its best efforts to provide parking at a Qualified Parking
Facility twenty-four (24) hours a day for every day of the year.
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3. Future Reserved Spaces. It is recognized that the City cannot currently make
available reserved or dedicated parking spaces. However, in the event the City ever can and does
offer reserved parking spaces in a Qualified Parking Facility, then the City agrees to offer twenty-
two (22) reserved spaces to LRNI on the same price, terms and conditions as those offered to other
third parties with priority of location of such spaces being given to the available Qualified Parking
Facility which is nearest to the Museum Center Building.
4. Term. The term of this Agreement shall be from the effective date of this Agreement
and shall continue until December 31, 2094; provided, however, if the City is legally or functionally
incapable of making the allocation for the Spaces as called for under this Agreement at a Qualified
Parking Facility, then this Agreement shall terminate as of the outset of the impediment which
causes the allocation failure.
5. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of Arkansas.
6. Assignment. This Agreement may be assigned by LRNI only to a party who is a
successor in interest in the ownership of the Terminal Building and, otherwise, this Agreement may
not be assigned either party without the express written permission of the other party in their sole
and absolute discretion.
IN WITNESS WHEREOF, the parties do hereby witness their signatures effective as of the
date first above written.
H: \W DATA "MITARK"3 MV
2
LITTLE ROCK NEWSPA ERS, INC.
By. ..
Walter E. Hussman, Jr., Presi ent
THE CITY OF LITTLE ROCK, ARKANSAS
Lo
69
ACKNOWLEDGMENT 70
STATE OF ARKANSAS )
) SS.
COUNTY OF PULASKI )
On this day personally appeared before the undersigned, a Notary Public within and for the
County and State aforesaid, duly qualified, commissioned and acting, the within named Walter E.
Hussman, Jr., who acknowledged himself to be the President of Little Rock Newspapers, Inc., a
corporation, and that he, as such officer, being authorized to do so, executed the foregoing
instrument for the purposes therein contained, and who stated that he had so signed, executed and
delivered said foregoing instrument for the consideration and purposes therein mentioned and set
forth.
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n /IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this !0 day
of , 1997.
No Public
My Commi EXpl AI I S- AEARL Y Y .3- . O-b JEAN E. BRADLEY
(SEAL) N0i FAULKNER COUNTY SA
Commission Expires 03-04 -2003
ACKNOWLEDGMENT
STATE OF ARKANSAS )
) SS.
COUNTY OF PULASKI )
On this day personally appeared before the undersigned, a Notary Public within and for the
County and State aforesaid, duly qualified, commissioned and acting, the within named
, who acknowledged himself [herself ] to be the , of
City of Little Rock, and that he [she], as such official, being authorized to do so, executed the
foregoing instrument for the purposes therein contained, and who stated that he[she] had so signed,
executed and delivered said foregoing instrument for the consideration and purposes therein
mentioned and set forth.
IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal this 192 day
of 199' —
�I
Nj Public
My Commission Expires:
V
(SEAL) OFFICIAL SEAL
JEAN E. BRADLEY
NO VARY P1!RLIC - ARKANSAS
FAULKNER COUNT/
My Commission Expires 0304 -2003