RES NO 06-6-2006 CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. (CJ G -2006
A RESOLUTION APPROVING AN AGREEMENT WITH CLOVERLEAF PLAZA.
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; and
WHEREAS, The Council approved a proposed agreement and Deed of Easement pursuant to
Resolution No. 6-1-2006; and
WHEREAS, That Cloverleaf Plaza, LLC has proposed some changes to the original agreement
and Deed of Easement which the Council finds reasonable.
NOW, THEREFORE, BE IT RESOLVED BY TIIE CITY COUNCIL OF THE CITY OF VAN
BUREN, ARKANSAS:
SECTION 1: That the City Council approves the revised agreement between the parties and
hereby authorizes and directs the Mayor to execute said agreement. The City
Council further accepts the property interests transferred to the City by the Deed
of Easement.
PASSED AND APPROVED THIS D —DAY OF JUNE, 2006.
MAYOR JOHN IuGGS
ATTESTED:
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CITY CLERKPIREASURER