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RESOLUTION DATED 07/19/76 AUTHORIZING ACCEPTANCE OF OFFER AND APPROVING THOMAS C, MARTIN AS RE-DEVELOPER AND APPROVING CONTRACT FOR SALE OF LAND FOR PRIVATE RE-DEVELOPMENT OF PARCELS 13-1, 13-2 AND 13-5 NDP PROGRAM
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WHEREAS, the Jonesboro Urban Renewal and Housing Authority has previously offered this land to private redeveloper for re-development in accordance with HUD guidelines; and
WHEREAS, the Agency has in all respects followed requirement of and used the standard methods approved in its offering of project land; and
WHEREAS, Thomas C. Martin has submitted an offer to purchase and re-develop parcels 13-1, 13-2, 13-5 for a hardware and equipment business, such offer being accompanied by a deposit in the amount of One Thousand dollars, representing 7 % of the total offered price; and
WHEREAS, a standard form of contract for “Sale of Land for Private Re-Development” has been executed by said developer and submitted to the Agency;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE JONESBORO URBAN RENEWAL AND HOUSING AUTHORITY that:
(1) The offer of Thomas C. Martin to purchase and redevelop project land, Parcels 13-1, 13-2, and 13-5 at a purchase price of Fifteen Thousand Dollars be approved.
(2) Said standard form of contract for “sale of land for private redevelopment” is hereby approved and the chairman and secretary of the Jonesboro urban renewal and housing authority be authorized to execute such contract.
(3) The proceeds from “Sale of Land” will be place in the Community Development Block Grant Funds”
APPROVED BY THE AFFIRMATIVE VOTE OF Bowers, Sanderson, Burns, Stricklin, Smith, Hinson, Haggenmacher, Johnson, and Darling at the Regular meeting of the City Council of Jonesboro, Arkansas held on the 19th day of July, 1976.