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14524 1 RESOLUTION NO. 14,524 2 3 A RESOLUTION TO AUTHORIZE THE MAYOR TO EXECUTE A 4 LETTER OF SUPPORT FOR SUNSET TERRACE TO RECEIVE A 9% 5 LOW-INCOME HOUSING TAX CREDIT FROM THE ARKANSAS 6 DEVELOPMENT FINANCE AUTHORITY; AND FOR OTHER 7 PURPOSES. 8 9 WHEREAS,the Mayor was requested to execute a support letter for Sunset Terrace to obtain a Low- 10 Income Housing Tax Credit from the Arkansas Development Finance Authority(ADFA), and this request 11 was endorsed by the Community Housing Advisory Board on March 20, 2017; and, 12 WHEREAS, the Housing & Neighborhood Programs Department has notified the surrounding 13 neighborhood associations of this seventy-four(74)-unit multifamily project; 14 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 15 OF LITTLE ROCK,ARKANSAS: 16 Section 1. The Mayor, and any other necessary City Officials, is authorized to execute a letter of 17 support to ADFA on behalf of Sunset Terrace in its pursuit for a 9%Low-Income Housing Tax Credit. 18 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 19 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or 20 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and 21 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the 22 resolution. 23 Section 3. Repealer. All laws,ordinances,resolutions, or parts of the same,that are inconsistent with 24 the provisions of this resolution, are hereby repealed to the extent of such inconsistency. 25 ADOP I• 4 arch 21,2017 26 A O APPROVE 1: 27 447 29 `;fin L kley,City Clerk Mark Stodola, ayor 30 • ' 'R I D AS TO LEGAL FORM: 31 32 33 Thomas M. Carpenter, CityAtto ey 34 II