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A RESOLUTION TO MODIFY PREVIOUSLY APPROVED RESOLUTION RES-07:2386 INDUCING REDEVELOPMENT OF THE PROPERTY COMMONLY KNOWN AS THE "INDIAN MALL" AND DECLARING AN EMERGENCY UPON THE CALL OF A SPECIAL CITY COUNCIL MEETING FOR SECTION TWO ONLY
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WHEREAS, the City has identified MBC Holdings Worldwide, LLC, a Nevada limited liability company ("MBC") as a party having the revocable contractual right to purchase and redevelop the property commonly known as the "Indian Mall" (the Indian Mall and the redevelopment thereof shall be hereinafter identified as the "Redevelopment"), which will, if completed, provide a substantial economic and aesthetic benefit for the City of Jonesboro, Arkansas (the "City"); and
WHEREAS, the Redevelopment has caused the removal of buildings from and provide redevelopment of an area of the City which presently is inhibiting development and which could have proved to become a blighted area within the City without immediate action, and the current owner requests that the previous resolution be corrected to provide clarity; and
NOW, THEREFORE, BE IT RESOLVED AND ORDAINED by the City Council of the City of Jonesboro, Arkansas, to be communicated to all employees, political subdivisions, commissions, boards and committees (including the Planning Commission for the City and the Stormwater Board for the City) to the fullest extent allowed by law:
Section 2 as modified shall read:
Section 2: The City shall support the grant of a variance of Sentence 1 of Paragraph 1 of Section 8.4.4 of the "Stormwater Drainage Design Manual and Floodplain Compliance Guidelines" dated October, 2004 and referring specifically to the maximum detention depth of 6 inches in the parking areas so long as the amount of stormwater and drainage generated by the Redevelopment, does not exceed that in existence as of August 1, 2007. MBC (and its successors and assigns) shall not be required to mitigate or alleviate any stormwater, stormwater runoff or drainage issues caused, in any manner, by: (i) any predecessor user or owner of the property comprising the Redevelopment, or (ii) any other property or use adjacent to the Redevelopment so long as the amount of detention storage in the parking area remains the same as that in existence on August 1, 2007.
PASSED AND APPROVED this 12th day of December, 2012.