City of Monroe, LA

NOTICE

NOTICE is hereby given that a public hearing will be held on the following Ordinance, Tuesday, June 13, 2023 at 6:00 p.m., in the Council Chamber at Monroe City Hall:

ORDINANCE

STATE OF LOUISIANA

CITY OF MONROE                                                                         

The following Ordinance was introduced.

WHEREAS, on November 18, 2022, the City entered into a Cooperative Endeavor Agreement (“CEA”) with Biomedical Research and Innovation Park (“BRIP”) under the Louisiana Cooperative Economic Development Law to promote economic development;

WHEREAS, under the CEA, the City agreed to purchase and lease to BRIP roughly 8.45 acres ± located near the corner of Tower Drive and Bienville Drive, Monroe, LA, next to the ULM College of Pharmacy (the “Property”), in exchange for commitments from BRIP to construct a state-of-the-art research and innovation park and related improvements, create jobs, and further economic development within the Tower-Armand Economic Development District;

WHEREAS, the City purchased the Property by Cash Deed dated January 12, 2023, which is recorded in the records of the Ouachita Parish Clerk of Court, Conveyance Book No. 2725, Page 197;

WHEREAS, upon purchasing the Property, and in accordance with the CEA, the City and BRIP negotiated a long-term lease to fulfill the purposes of the CEA, which permits this important economic development project to move forward, and which sets forth the binding terms and conditions for BRIP’s occupancy of the Property;

WHEREAS, entering into a long-term lease agreement with BRIP will benefit the City through the construction of permanent improvements and infrastructure, promote economic development, and create jobs;

WHEREAS, the City does not have its own plans for use or development of the property, the property is not currently needed for any public purpose, and the City does not believe that the property will be needed for a public purpose during the term of the lease; and

WHEREAS, the City deems the terms of the lease to be in the best interest of the City and that the investment and rentals paid by BRIP under the lease are commensurate with the value of the Property; and

WHEREAS, the “Ground Lease Agreement between the City of Monroe, Louisiana and Biomedical Research and Innovation Park” is attached hereto and made part hereof.

                NOW THEREFORE, BE IT ORDAINED by the City Council of the City of Monroe, Louisiana, in legal session convened, that 8.45 acres ± located near the corner of Tower Drive and Bienville Drive, Monroe, LA, next to the ULM College of Pharmacy, more fully described in the attached lease, is no longer necessary for public use;

                BE IT FURTHER ORDAINED that Mayor Friday Ellis be and is hereby authorized and empowered for and on behalf of the City of Monroe, Louisiana, to enter into and execute the attached “Ground Lease Agreement between the City of Monroe, Louisiana and Biomedical Research and Innovation Park”;

                BE IT FURTHER ORDAINED that under the provisions of Louisiana Revised Statute 33:4712 that prior to the final adoption hereof, notice of this Ordinance shall be published in the official journal three (3) times within fifteen (15) days, one week apart and that any opposition hereto must be made in writing, filed with the Clerk of the Council within fifteen (15) days of the first publication.

ORDINANCE INTRODUCED on the   23rd   day of  May , 2023.

            NOTICE PUBLISHED on May 26th and June 2nd & 9th, 2023.

                                                            Carolus S. Riley, CMC, MMC

                                                                        Council Clerk