RES NO 06-01-2006 CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. I -2006
A RESOLUTION APPROVING AN AGREEMENT WITH CLOVERLEAF PLAZA,
LLC.
WHEREAS, That the City of Van Buren has been in negotiations with Cloverleaf
Plaza, LLC regarding the expenditure of funds pursuant to Resolution No.
1 -6 -2006, which stated the City's commitment to expend up to
$250,000.00 in the area of Cloverleaf Plaza for infrastructure
improvements to support the location of a new business in the former
Walmart building; and
WHEREAS, The City of Van Buren and Cloverleaf Plaza, LLC have determined that
the best use of the committed funds will be for the construction,
reconstruction and renovation of a public parking lot adjacent to the
former Walmart building; and
WHEREAS, The property upon which the public parking lot will be constructed is
currently owned in fee by Cloverleaf Plaza LLC and in order to
implement the proposed project, Cloverleaf Plaza, LLC must transfer an
easement on the property to the City; and
WHEREAS, In order to effectuate the granting of an easement and construction of the
improvements, the City of Van Buren and Cloverleaf Plaza, LLC have
proposed a written agreement and Deed of Easement stating the
responsibilities and obligations of each party.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
VAN BUREN, ARKANSAS:
SECTION 1: That the City Council approves the proposed agreement between the
parties and hereby authorizes and directs the Mayor to execute said
agreement. The City Council further approves the form of the proposed
Deed of Easement.
PASSED AND APPROVED THIS 6 DAY OF JUNE, 2006.
r e—.
MAYOR .12HN RIGC
ATTESTED:
`�Xt1 LLt Q
CITY CLERK/TREASURER
0