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Possible Easter Seals Building Lease Transfer

posted Oct 18, 2011, 8:50 AM by Unknown user
The Easter Seals Building lease is up for a possible transfer.  The HRA has attempted to gather more information on this transfer and the new leasee's intended use without much success.  Please attended the meeting today if you are able to find out more and voice your concerns of the the building's future use.  

The board meeting of the Arkansas Schools for the Blind and Deaf will be Tuesday, October 18, at 5:00 p.m., in the Nutt Gym on the Deaf School campus.  (Enter on the road just to the west of the pedestrian overpass, drive uphill, Gym and parking lot are on left.)

If you are unable to attend the meeting today, please send an email with your concerns to the Chariman of the Board of Trustees of the School for the Blind and Deaf: Dr. Douglas Watson, dwatson@uark.edu.

Click here to see a map of the subject building location:  http://g.co/maps/rr8qr


10/17/11 Email from the HRA Board President:

This afternoon, I received an email from counsel to Easter Seals transmitting additional details concerning the proposed transaction between Easter Seals and J. Chandler & Co., Inc. Generally speaking, the proposal is for Chandler to assume Easter Seals' leasehold interest in the 9+ acre tract of land in the northwest corner of of the campus of the Blind and Deaf Schools. The lease itself is a 50 year lease with an option to renew for an additional 50 years. The rental amount is nominal ($1 per year) and the initial term runs from Feb. 1, 1997 to January 31, 2047 (so if the renewal option is exercised, the end of the renewal term will be January 31, 2097). As I understand it, Chandler is intended to have the right to use the property for any activity described within the City of Little Rock's O-3 zoning district classification.
 
Until today's email, I was under the impression that Mr. Chandler, being out of the country, was unavailable to advance his negotiations with Easter Seals to the point where the deal terms could be finalized. However, it appears that Mr. Chandler approved the details of the transaction over the weekend (from Hong Kong). I understand that Mr. Chandler will have representatives at tomorrow's meeting to answer questions about his organization.
 
In an abundance of caution from the perspective of the immediate vicinity neighbors and the Hillcrest Residents Association more broadly, I have asked Easter Seals not to ask the Board of Trustees for approval of the transaction at tomorrow's meeting, and I have made a similar request to Mr. Khayyam Eddings, a member of the Board of Trustees.
 
In light of the short time between now and tomorrow's meeting of the Board of Trustees, I encourage all of the immediate vicinity neighbors to attend the meeting to ask questions and voice concerns. The HRA board will not have time to properly consider this matter between now and tomorrow's Board of Trustees meeting so neighbor turnout will be the best and most effective way for the neighborhood concerns to be voiced.
 
Regards,
 
Glenn
 
Glenn E. Borkowski
President, Hillcrest Residents Association


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