119071
2
RESOLUTION NO. 11,907
3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A
4 LETTER OF SUPPORT TO THE ARKANSAS DEVELOPMENT
5 FINANCE AUTHORITY FOR CONSTRUCTION OF A SENIOR
6 ASSISTED - LIVING DEVELOPMENT, HAVING FORTY (40)
7 UNITS, LOCATED AT COLLEGE STATION; AND FOR OTHER
8 PURPOSES.
0
10 WHEREAS, a proposed project has been submitted for the construction of a 40-
11 unit senior assisted - living development located in College Station, and has been
12 reviewed in accordance with the City's process, and
13 WHEREAS, the project will be developed through a joint venture between Fruit
14 of the Spirit, Inc. and the College Station Community Housing Development
15 Corporation, and
16 WHEREAS, the project is to be financed through tax - exempt bonds issued by
17 the Arkansas Development Finance Authority, which has requested a letter of support
18 from the Mayor before the project can be approved for tax - exempt bond financing with
19 tax credits.
20 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
21 THE CITY OF LITTLE ROCK, ARKANSAS:
22 Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter
23 of support for the construction of a 40 -unit senior assisted - living development, located
24 in College Station, through tax - exempt bonds issued by the Arkansas Development
25 Finance Authority.
26 H
[PAGE 1 OF 21
Resolution
To authorize letter of support for College Station
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
Section 2. Severability. In the event any title, section, paragraph, item, sentence,
clause, phrase, or word of this resolution is declared or adjudged to be invalid or
unconstitutional, such declaration or adjudication shall not affect the remaining
portions of the resolution which shall remain in full force and effect as if the portion so
declared or adjudged invalid or unconstitutional was not originally a part of the
resolution.
Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that
are inconsistent with the provisions of this resolution, are hereby repealed to the extent
of such inconsistency.
Section 4. This resolution shall be in full force and effect from and after its
adoption.
ADOPTED: February 1, 2005
ATTEST:
Nanc Wood, ity Clerk
APPROVED AS TO FORM:
Thomas M. Carpenter, City Attorney
//
//
//
//
//
Resolution
To authorize letter of support for College Station
[PAGE 2 OF 21
APPROVED:
a4dL 6
Jim ' ey, Mayor