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RESOLUTION BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS, TO ENTER INTO A CONTRACT TO PURCHASE PROPERTY LOCATED AT 700 S. PATRICK STREET
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WHEREAS, the City of Jonesboro desires to enter into a contract to purchase property located at 700 S. Patrick Street, Jonesboro, Arkansas; and
WHEREAS, the property has been discussed by the Land Bank Commission and endorsed by the committee as worthy of purchase; and
WHEREAS, the property holds historic and cultural significance to the community and is adjacent to the E. Boone Watson Community Center facility; and
WHEREAS, the Jonesboro Senior Planner is authorized to negotiate a purchase price with the property owner, not to exceed the amount of $65,000 plus closing cost, and
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS, THAT:
SECTION 1: The City of Jonesboro, Arkansas shall contract to purchase of property located at 700 S. Patrick, Jonesboro, Arkansas.
SECTION 2: The Jonesboro Senior Planner is authorized to negotiate a purchase price not to exceed the amount of $65,000 plus closing cost.
SECTION 3: The Jonesboro Land Bank held a meeting on February 13, 2024 and voted unanimously to recommend the purchase of the property located at 700 S. Patrick.
SECTION 4: The Mayor, Harold Copenhaver, and City Clerk, April Leggett, are hereby authorized by the City Council for the City of Jonesboro to execute all documents necessary to effectuate this agreement.
PASSED AND APPROVED THIS 20TH DAY OF FEBRUARY 2024.