2038ORb~ANCE NO. ae38
AN ORDINANCE i~VAIi~-INO CO1~I'EWIWI~VE RIbDLNO FOR WHE
PURCHASE OF THE PROPERTY AT 519 AUBURN STREET
WHEREAS, Arkansas Code Annotated Section 14-58-303 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 floodplains that have suffered
repetitive flood losses; and
WHEREAS, the house at 519 Auburn Street was included in the grant
application and meets all FEMA requirements to be eligible for its program; and
WHEREAS, the house at 519 Auburn Street has been appraised at $90,000; and
WHEREAS, the Department of Emergency Management. for the State of
Arkansas has authorized the City to other the property owners, William & Shelia Day, the
appraised value of the property, with no duplication of benefit payments deduction; and
WHEREAS, the City wishes to purchase the house from the owners for the
appraised value of $90,000, and the City will pay all closing costs; and
WHEREAS, the City of West Memphis will demolish the house to remove it as a
future potential repetitive flood loss in accordance with FEMA's Hazard Mitigation Grant
Program and will maintain the property as perpetual open space;
NOiti, WHEREFORE BE Ifi ORbAINE~ BY THE CIWY COUNCIL OF
TIIE CIWY OF VV~SW IVIElVI<P$IS, ARKANSAS:
That. competitive bidding be waived for the purchase of the property at
519 Auburn Street, and the owners William & Shelia Day be paid $90,000
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 William &
Shelia Day is hereby approved and the Mayor and the City Clerk are
hereby authorized to execute the necessary purchase contract.
PASSED AND APPR6VED this 5~--~' day of sc-~7~ B~ , 2002.
~'ll-y-. A-.`t~v~ -yam
WILLIAM H. SON, Mayor
Afifi~ST:
PH ,City Clerk
RECEIVED
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