HomeMy WebLinkAbout4161 RESOLUTION NO. 4,161
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO ENTER
INTO AN AGREEMENT WITH THE HOUSING AUTHORITY OF THE CITY
OF LITTLE ROCK CONCERNING RIGHT-OF-WAY FOR EAST-WEST
EXPRESSWAY IN THE HIGH STREET URBAN RENEWAL PROJECT;
AND FOR OTHER PURPOSES.
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
enter into an agreement with the Housing Authority of the City of Little
Rock concerning right-of-way for East-West Expressway in the High Street
Urban Renewal Project, said agreement consisting in form of substance as
follows:
•
MEMORANDUM OF AGREEMENT
• BY AND BETWEEN
HOUSING AUTHORITY OF THE CITY OF LITTLE ROCK
AND
CITY OF LITTLE ROCK
CONCERNING RIGHT OF WAY FOR EAST-WEST EXPRESSWAY
HIGH STREET URBAN RENEWAL PROJECT
WHEREAS, the Housing Authority of the City of Little Rock (hereinafter
called Housing Authority) is undertaking an urban renewal project known as
the High Street Area Project (hereinafter called Project), and
WHEREAS, in connection with the undertaking of this Project, the City
of Little Rock (hereinafter called City) and the Housing Authority signed a
Cooperation Agreement dated November 21, 1960, and subsequently amended
on September 17, 1963, and
WHEREAS, said Cooperation Agreement provides among other things,
that:
"The Authority agrees to undertake and carry out, upon the
final approval of said Urban Renewal Plan and execution of said
Loan and Grant Contract, the following, all as provided for in
said Plan:
"(a) Acquisition of land to be used as right of way within
the project area for the Eighth Street Expressway,
including all improvements situated thereon, at an
estimated cost to the Authority of $1, 683, 000 ",
and
WHEREAS, said Cooperation Agreement further provides:
"The City agrees:
(c) To purchase from the Authority as necessary
at its fair market value right of way within the
boundaries of the Project for the Eighth Street
Expressway and to provide same for use and reuse
by the Arkansas State Highway Commission in
development of said Eighth Street Expressway.
", and
WHEREAS, the proposed right of way delineation for said Expressway
as shown on said Plan (attached hereto, labeled Exhibit 1) in 1960, had an
estimated value of $553, 150, and
WHEREAS, preliminary engineering surveys by the State Highway
Department have indicated a substantially wider corridor (as shown on attached
Revised Plan, labeled Exhibit 2) required for.said Expressway at a cost now
estimated at $724, 200, and
WHEREAS, there is currently underway a study to convert said Express-
way to a Toll Facility and such conversion may reduce right of way requirements,
and
WHEREAS, no final right of way lines have been established for said
Expressway, and no determination can therefore be made at this time as to
the cost of such right of way, and
WHEREAS, the Housing Authority has acquired approximately 99% of
the area within which the right of way lines of said Expressway will ultimately
fall, and
•
WHEREAS, the Housing Authority requires reimbursement of some of
its expenses involved in acquiring and holding said right of way for ultimate
purchase by said City, and
WHEREAS, it is not appropriate or feasible at this time to transfer title
from the Housing Authority to the City partial segments of said right of way,
and
WHEREAS, the City has reserved certain monies for purchase of said
right of way,
NOW, THEREFORE, the parties hereto do mutually agree as follows:
•
Section 1. The City will from time to time make "payments on account"
to the Housing Authority toward the ultimate full purchase price of said right
of way, but in no event shall such "payments on account" exceed the sum of
$553, 150, until such time as final right of way determinations shall be made
and a total purchase price determined so that the entire right of way can be
deeded from the Housing Authority to the City.
Section 2. The Housing Authority will accept from time to time from the
City said "payments on account" to be applied at the time of deed transfer to
the full purchase price of said right of way as such purchase price may be
finally determined.
IN WITNESS WHEREOF, the Housing Authority and the.City have caused
this Memorandum of Agreement to be executed-by the duly authorized officers
as of this day of , 1969. —
ATTEST: City of Little Rock, Arkansas
By
Pauline Beeson, City Clerk Haco Boyd, Mayor
ATTEST: The Housing Authority of the City of
Little Rock, Arkansas
By
George Millar, Jr. , Secretary Fred Parris, Chairman
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SECTION 2. This Resolution shall be in full force and effect
from and after its adoption.
ADOPTED: March 3, 1969
ATTEST: APPROVED: 41:
City Clerk Mayo
1