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RESOLUTION NO. 9,7 &1
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A RESOLUTION TO EXPEND FUNDS FROM THE ECONOMIC 539
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DEVELOPMENT ACCOUNT TO PURCHASE THE DOWNTOWN
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YMCA BUILDING; TO ENCOURAGE THE CITY MANAGER
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TO SEEK FUNDS FOR THE REDEVELOPMENT OF THE
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YMCA; TO DIRECT THE CITY MANAGER TO DEVELOP A
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PLAN FOR THE USE OF THE YMCA BUILDING; TO USE
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ECONOMIC DEVELOPMENT FUNDS TO PURCHASE
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ADDITIONAL LANDS FOR THE CURRAN HALL VISITORS'
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CENTER PROJECT; AND FOR OTHER PURPOSES.
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WHEREAS, the Board of Directors adopted Little Rock, Ark.,
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Resolution No. 9,752 (July 16, 1996) ( "LRR ") , which stated its
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interest in purchasing the Downtown YMCA Building and directed
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the City Manager to determine the source of budget funds to pay
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the purchase price of this building; and
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WHEREAS, the Board passed Little Rock, Ark., Ordinance No.
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17,208 (June 4, 1996) ( "LRO "), which stated a desire to purchase
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additional lots for the Curran Hall Visitor's Center project to
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accompany the condemnation of Curran Hall to be used as a
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visitors' center for the City; and
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WHEREAS, after careful consideration of all the issues the
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City Manager has determined that the Economic Development Fund
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is the best source of revenue for these two projects; and
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WHEREAS, it is important that the City develop a long range
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plan.for the Downtown YMCA building and, to the extent possible,
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seek additional monies from interested citizens to help fulfill
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those plans.
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NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
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THE CITY OF LITTLE ROCK, ARKANSAS:
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SECTION 1. The City Manager is authorized to expend the
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following amounts from the Economic Development Fund, Account
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No. 212 -8500, for the following projects:
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(a) Purchase and payment of associated
closing costs for the Downtown YMCA
$210,000
(b) Purchase of additional lands for the 540
Curran Hall Visitors, Center project
$43,000
SECTION 2. The City Manager is directed to complete a study
within the next 90 days of possible uses for the Downtown YMCA
building and to report to the Board of Directors his findings
and recommendations. These recommendations are to include
possible sources of funding this project..
SECTION 3. The City Manager is encouraged to seek private
dollars for use in the YMCA project, and to particularly seek
the $300,000 and $200,000 for use in the purchase of equipment
and payment of rehabilitation costs that has previously been
presented to the Board of Directors.
ADOPTED: August 20, 1996
ROBBIE HANCOCK
CLERK CITY
APPROIr-alf iW TO FDA.'.
A.�
APPROVED: