Industrial Authority votes to terminate lease at 1903 Arkansas after executive session

The Industrial Authority voted unanimously during its meeting to terminate the lease of the existing occupant at 1903 Arkansas after entering an executive session to discuss a land-sale property appraisal.

Board members said the action followed a closed-session discussion of the property’s appraisal. Trustee Kuykendahl, Trustee Similescu, Trustee Rudolph and Chairman Rogers voted yes on the motion to terminate the lease; the motion passed 4-0.

The meeting opened with a roll call that established a quorum. Trustee DeWald, Trustee Tucker and Vice Chairman Newsom were recorded as absent. Staff member Cindy conducted the roll call and later read the vote totals.

Earlier in the meeting the board moved into executive session to "discuss land sale property appraisal, regarding our Arkansas property and then consider action pursuant," according to the meeting record. After the closed session, trustees returned to regular session, a motion to terminate the lease was made and seconded, and the board voted to approve the motion.

The meeting minutes and remarks on the record do not include additional details about next steps for the property, any planned sale, timelines, or the identity of the leaseholder. No ordinance, contract number, funding allocation or statutory citation was provided during the discussion. The authority adjourned following the vote.