9735Ei
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RESOLUTION NO. 9,735
A RESOLUTION OF THE LITTLE ROCK
BOARD OF DIRECTORS IN SUPPORT OF THE
LITTLE ROCK HOUSING AUTHORITY
NEIGHBORHOOD REVITALIZATION EFFORTS
AT THE HIGHLAND PARK HOUSING
DEVELOP?ffiiT.
WHEREAS, the Little Rock Housing Authority has been awarded
funds for demolition of Highland Park, a low -rise family public
housing development that consists of 307 deteriorated housing
units which will be rebuilt as a 300 unit complex of
mixed- income, well designed housing; and
WHEREAS, one third of the units will be set aside for
public housing families who will pay 30% of household income
toward rent and utilities. One third of the units will be set
aside for households with incomes of 50 -60% of Area Median
Income. One third of the units will be without income
restrictions and will be occupied by households with incomes
over 60% of Area Median Income; and
WHEREAS, this proposed mixed income structure has been
developed by McCormack Baron over the past two years in close
cooperation with the Department of Housing and Urban
Development's Office of Public Housing which administers the
Housing Authority's capital and annual operating funds and the
FHA which has insured first mortgage financing for similar mixed
income joint ventures with the Housing Authorities of St. Louis,
Missouri and Atlanta, Georgia; and
WHEREAS, the Highland Park residents have demonstrated
support of the revitalization plan along with area residents and.
City staff; and
WHEREAS, Highland Park is positioned to be one of the
national models of new thinking about public - private
partnerships, environment and community. The proposed
development consists of 157 units in its first phase, with 143
more to be built in a subsequent phase.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The Little Rock Board of Directors does support
the aims and desires expressed in the Little Rock Housing
Authority "neighborhood revitalization" strategy for Highland
Park.
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ADOPTED: JUNE 25, 1996
gg
APPROVED AS V& ^ • 7'
THOMAS M. CARPENT12tJ
CITY ATTOPNEY
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