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RESOLUTION NO. 7,226
256
A RESOLUTION COMMITTING THE CITY OF LITTLE ROCK
TO THE DOWNTOWN PARTNERSHIP AND DEFINING THE ROLE
OF CITY IN SAID ORGANIZATION.
WHEREAS, the City of Little Rock has prepared and adopted the Downtown
Development Plan which delineates future land use and an implementation strategy
for the central City area, and
WHEREAS, the crucial role played by the Central Business District in the
economic, social and cultural life of the community is well understood, and
WHEREAS, the City is formally committed to the concept of public /private
cooperation in the areas of downtown growth and development, and
WHEREAS, the City has provided economic support for downtown development
organization by assigning revenues from City owned real property located between
Second, Third, Main and Scott Streets to Downtown Unlimited Progress, and
WHEREAS, the Downtown Partnership has been formed to replace Little Rock
Unlimited Progress and City representatives occupy three (3) of fifteen (15)
positions on the Partnership's Executive Committee.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS.
SECTION 1. The Downtown Partnership is hereby recognized as a successor
organization to Little Rock Unlimited Progress, Inc. The City Manager and the
Director of Human Resources are hereby authorized to update the Little Rock UP
lease agreement to reflect the creation of the Downtown Partnership and to take
any other steps necessary to affirm the City's commitment to the new downtown
organization.
SECTION 2. The City hereby recognizes its obligation to provide continuing
financial support to the Partnership when revenues are no longer generated by
the property bounded by Second, Third, Main and Scott Streets, redevelopment of
said property having occurred. The City hereby expresses its intent to provide
the Partnership with revenue equivalent to that formally provided by Block 3.
ADOPTED: July 3, 1984
ATTEST: -�7,
ity Clerk J ne C' tech
APPROVED: =Oios�� /
Mayor J. w. Benafielei
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