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Arkansas City Land Bank approves resale of parcel to Randy Frank for $300
Summary
The Arkansas City Land Bank voted to resell a parcel identified in the transcript as "09:24 South Sixth Street" to Randy Frank for $300, with board members citing plans for a single-family home and using the county appraised value as a reference.
The Arkansas City Land Bank approved selling a parcel identified in the meeting transcript as "09:24 South Sixth Street" to Randy Frank for $300 during a board meeting.
Land bank staff told the board that Randy Frank approached the agency months earlier seeking to build a single-family home on the site. Staff said the county appraisal value is $43.60 and that the land bank acquired the property in 2022 through a tax sale. Staff recommended using the county-approved value as the purchase price. A board member moved to resell the property for $300; the motion carried on a voice vote.
Board discussion, as recorded in the transcript, included staff notes that the parcel has been in the land bank inventory since 2022, that the city previously paid $200 for the lot, and that other parties have expressed interest in the property. The board did not record a roll-call tally in the transcript; the approval was noted by the chair as carrying after a voice vote.
Next procedural steps were not specified in the transcript. Staff said the intent is for Frank to build a single-family residence; once improved and on the tax rolls, the property would be subject to regular property taxation.
The transcript contains numerical and address formatting that may reflect transcription errors; see clarifying details for the exact phrasing recorded to the transcript.
