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625
RESOLUTION NO. 9,545
A RESOLUTION TO AMEND THE 1995
CONSOLIDATED PLAN TO INCLUDE
ISSUANCE OF A SECTION 108 LOAN IN
THE AMOUNT OF $1,800,000 FOR
REHABILITATION OF LEE SCHOOL FOR USE
AS THE LITTLE ROCK NEIGHBORHOOD
RESOURCE CENTER.
WHEREAS, Little Rock's 1995 Consolidated Plan was approved
by the Board of Directors in May, 1995; and
WHEREAS, management proposes to amend the plan to allow
application for a Section 108 Loan in the amount of $1,800,000
for renovation of Lee School (12th and Pine Streets) for use as
the Little Rock Neighborhood Resource Center; and
WHEREAS, the Consolidated Plan amendment and Section 108
Loan proposal must undergo a thirty day comment period prior to
submission to the Department of Housing and Urban Development.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The City Manager is hereby authorized to amend
the Consolidated Plan in order to apply for a Section 108 Loan
from the Department of Housing and Urban Development to fund
rehabilitation of Lee School for use as the Little Rock
Neighborhood Resource Center.
SECTION 2. The note issuance and .closing costs on the
proposed Section 108 Loan would be capitalized into the loan
repayment.
SECTION 3. The City Manager is directed to proceed with the
108 Loan Application and to take other actions necessary to
implement the Little Rock Neighborhood Resource Center Project.
ADOPTED: 2•71ovember 7, 1995
i
O 1E HANCUCK
CLERK CITY 1
APPR /VED AS TO FORM:
THOMAS M. UARFk-NTkA1',3
CITY ATTORNEY
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