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•84/29/2883 82:59:33 PM
Filed 8 Recorded in
Official Records of
CAROLYN STALEY
18 , 849 PULASKI COUNTY
i ORDINANCE NO. CIRCUIT/COUNTY CLERK
Fees $17.88
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3 AN ORDINANCE TO ESTABLISH A REDEVELOPMENT
4 DISTRICT WITHIN THE CITY OF LITTLE ROCK, ARKANSAS
5 AND PRESCRIBING THE BOUNDARIES THEREOF; AND FOR,
6 OTHER PURPOSES.
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Whereas, the City of Little Rock, Arkansas (the "City"), a Cit} cL#
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has the power, pursuant to Amendment 78 of the Arkansas Constitutial
of 2001 (the "Act "), to create redevelopment districts within the City, and
ie�;fii'�yt clas's� � d
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11 Whereas, the City, in conjunction with interested property owners, has
12 determined that creation of a redevelopment district would benefit the City. And
13 Whereas, pursuant to Section 6 of the Act, notice has been sent by first class mail
14 to the chief executive officer of all local governmental and taxing entities having the
15 power to levy taxes on property located within the proposed redevelopment district
16 and to the Board of the Little Rock School District, and
17 Whereas, on March 11, 2003, a public hearing was held at which interested
18 parties were afforded a reasonable opportunity to express their views on the proposed
19 creation of a redevelopment district and its proposed boundaries.
20 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS
21 OF THE CITY OF LITTLE ROCK, ARKANSAS:
22 Section 1. The Board of Directors makes the finding and determination that by
23 creating the District, the real property therein will be benefited by the elimination or
24 prevention or spread of slums, blighted, deteriorated, or deteriorating areas,
25 discouraging the loss of commerce, industry, or employment, and increasing
26 employment within the District.
[PAGE 1 OF 41
Ordinance
Establish Redevelopment District within City of Little Rock
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1 Section 2. That there be and there is hereby approved the creation of a
2 redevelopment district within the lands more particularly described in Exhibit "A ",
3 attached hereto and made a part hereof by reference.
4 Section 3. That the name of the District shall be the "Little Rock
5 Redevelopment District No. _"
6 Section 4. That the City hereby establishes the Bass Pro Redevelopment
7 District No. _Fund (the "Bass Pro Redevelopment District No. _ Tax Increment
8 Fund "). In the event the district's project plan and financing plan are subsequently
9 adopted by separate ordinances by the Board of Directors of the City of Little Rock, any
10 tax increment revenues and other revenues designated by the City for the benefit of the
11 district shall be deposited in the fund, and fro the fund all project costs shall be paid.
12 This special fund may be assigned to and held by a trustee for the benefit ofbond
13 holders if tax increment financing is used.
14 Section 5. That a project plan shall be prepared and adopted by Ordinance of
15 the City in conformance with Section 7 of the Act.
16 Section 6. The provisions of this Ordinance are hereby declared to be
17 severable and, if any such provision shall for any reason be held illegal or invalid, such
18 holding shall not affect the validity of the remainder of this Ordinance.
19 Section 7. All resolutions or ordinances and parts thereof in conflict herewith
20 are hereby repealed to the extent of such conflict.
21 PASSED: APRIL 1, 2003
22 ATTEST: APPROVED:
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25 Nanc Wood City Clerk Jin0ailey, Mayor
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[PAGE 2 OF 41
Ordinance
Establish Redevelopment District within Cty of Little Rock
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1 APPROVED AS TO LEGAL FORM:
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Thomas M. Carpenter, Cit�Attorney
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[PAGE 3 OF 41
ordinance
Establish Redevelopment District within City of Little Rock
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BOUNDARY DESCRIPTION OF PROPOSED REDEVELOPMENT DISTRICT
Part of Section 4, Township 1 South, Range 13 West, Pulaski County, Arkansas, being more
particularly described as follows:
Starting at the Southwest comer of Section 4; thence North Olo18'10" East along the West line of said Section 4 a distance of 196.04
feet to the North right -of -way line of Otter Creek Road; thence continuing along said North right of way line South 81 055'24" East
244. 74 feet; thence South 80050'11" East along said North right of way line 65.97 feet to the POINT OF BEGINNING; thence North
13001'40" East 625.55 feet; thence South 88 041'50" East 588.55 feet; thence along a curve to the left having a radius of 955.00 feet, an
arc distance of 269.42 feet and a chord which bears North 00027'55" East 268.53 feet; thence North 07037'00" West 31.88 feet; thence
North 88041 '50" West 564.89 feet; thence North 04007'29 "East 1044.75 feet; thence North 21 010'15" East 1649.39 feet; thence South
86011'19" East 460.69 feet; thence South 19058'41" East 667.83 feet; thence along a curve to the right having a radius of 980.00 feet, an
arc distance of 258.53 feet and a chord which bears North 77002'40" East 257.78 feel; thence North 00°45'40" West 212.66 feet; thence
North 56019'40" East 257.59 feet, thence North 02002'48" West 285.82 feet; thence North 44014'04" East 208.63 feet to a point on the
North line of Lot 1, said Section 4; thence South 87025'30" East along the North line of said Lot 1 a distance of 476.02 feet to the
Southwest comer of Lot 3, said Section 4; thence North 000 45' 14" West along the West line of Lot 3 said Section 4 a distance of
983.36 feet to the West right -of -way line of Interstate 430; thence along said West right-of-way line to the following two (2) courses
and distances: 1) South 25050'25" East 200.97 feet; 2) South 200 04' 26 East 1424.80 feet to a point on the West right -of -way line of the
North frontage road of Interstate 30; thence along said West right-of-way line the following seven (7) courses and distances: 1)
South 61031'33" West 119.21 feet; 2) thence South 29018'02" West 256.48 feet; 3) South 05021'50" West 235.36 feel; 4) thence South
13050'13" East 595.82 feet; 5) South 04036'20" West 183.78 feet, 6) thence South 23046'56" West 186.23 feet; 7) South 36057'41" West
197.26 feet to a point on the West right -of -way line of Interstate 30; thence along said West right -of -way line the following two (2)
courses and distances: 1) thence South 44008'53" West 77.75 feet; 2) thence South 43045'54" West 1828.19 feet; thence North 46009'42"
West 200.69 feet; thence South 44015'59" West 143.51 feet to a point on the North right -of -way line of Otter Creek Road; thence along
said North right -of -way line the following twelve (12) courses and distances: 1) North 46030'30" West 196.59 feet; 2) along a curve to
the left having a radius of 386.48 feet, an arc distance of 88.28 feet and a chord bearing and distance of North 52045'03" West 88.09
feet; 3) South 01004'20" West 132.44 feet; 4) along a curve to the left having a radius of 505.00 feet, an arc distance of 505.59 feet and a
chord bearing and distance of South 72040'41" West 484.74 feet; 5) South 46033'32" East 30.00 feet; 6) South 57°19'01" West 71.59 feet;
7) South 70049'03" West 1.92.33 feet; 8) South 77025'32" West 46.84 feet; 9) South 720 53'09" West 36.70 feet; 10) North 880 51'10" West
74.30 feet; 11) North 01008'50" East 16.37 feet; 12) North 80050'11" West 226.76 feet to the POINT OF BEGINNING containing 176.413
acres, more or less.
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EXHIBIT A: Boundary Description of Proposed Redevelopment District
[PAGE 4 OF 41
Ordinan
Istablish Redevelopment District within City of Little R «k