2036aR1~INANCE NO. 03.E
AN aRbINANCE itiAli~~ING Ca1tiI~ETITIi~E BIHBINO FOR THE
PURCHASE OF THE PROPERTY AT 505 AUBURN STREET
WHEREAS, Arkansas Code Annotated Section 14-5$-~03 allows waiving of
competitive bidding in exceptional situations where such procedure is deemed not
feasible or practical; and
WHEREAS, the Federal Emergency Management. Agency (FEMA) has made
grant funds available for the acquisition of property in tloodplains that. have suffered
repetitive flood losses; and
WHEREAS, the house at 505 Auburn Street. was included in the grant.
application and meets all FEMA requirements to be eligible for its program; and
WHEREAS, the house at 505 Auburn Street has been appraised at $92,000; and
WHEREAS, the Department. of Emergency Management for the State of
Arkansas has authorized the City to offer the property owner, Beverly Jamison, the
appraised value of the property, with no duplication of benefit. payments deduction; and
WHEREAS, the City wishes to purchase the house from the owner for the
appraised value of $92,000, and the City will pay all closing costs; and
WHEREAS, the City of West Memphis will demolish the house to remove it as a
future potential repetitive flood loss in accordance with FEMA's Hazard Mitigation Grant.
Program and will maintain the property as perpetual open space;
NOW, THEREF"aRE BE IT aRHAINEH BY THE CITY COUNCIL OF
THE CITY aF WEST IvlEli~IPHIS, ARKANSAS:
That. competitive bidding be waived for the pwchase of the property at
SOS Auburn Street, and the owner Ms. Beverly Jamison be paid $92,000
for the property, and the City of West Memphis will pay all closing costs.
2. That the agreement. between the City of West Memphis and Ms. Beverly
Jamison is hereby approved and the Mayor and the City Clerk are hereby
authorized to execute the necessary pwchase contract..
PASSED AND APPRbVED this .S TrF day of ,S~P7EI~8~R , 20b2.
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WILLIAM H. JO SON, Mayor
ATfi~ST:
P ,City Clerk
S SO b 1~ .
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~~C~OV~®
CITY CLERKS OFFICE
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