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RESOLUTION BY THE JONESBORO CITY COUNCIL TO PURCHASE PROPERTY LOCATED AT 210 PINE FROM SANCHEZ & ISLAND INVESTMENTS, LLC AND AMEND THE FY2024 BUDGET
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WHEREAS, the City of Jonesboro desires to purchase property located at 210 Pine Street, Jonesboro, Arkansas and owned by Sanchez & Island Investments, LLC as part as a continued investment in the Parker Park Community Center facility; and
WHEREAS, the above property is located immediately to the South of the property and will allow for future expansion as needed; and
WHEREAS, the owner has agreed to sell the property for $80,000 plus normal closing costs; and
WHEREAS, the purchase has been researched and endorsed by the City of Jonesboro Land Bank Commission as a property worthy of purchase.
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 with Sanchez & Island Investments LLC for the purchase of property located at 210 Pine Street, Jonesboro, Arkansas.
SECTION 2: The City of Jonesboro Land Bank Commission is approved to take necessary actions to finalize contractual necessities and administrative task associated with purchase of the property.
SECTION 3: The FY24 Land Bank Budget will be amended to reflect to above detailed purchase.
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 purchase.
PASSED AND APPROVED THIS 20TH DAY OF AUGUST 2024.