9867M M
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NO. 9,867
A RESOLUTION AUTHORIZING THE CITY
MANAGER TO ENTER INTO AN AGREEMENT
WITH WOODRUFF COMMUNITY DEVELOPMENT
CORPORATION (CDC) TO PROVIDE
$195,083 IN HOME FUNDS FOR THE
REHABILITATION, CONSTRUCTION, AND
SALE OF THREE (3) AFFORDABLE HOMES
IN THE 500 BLOCK OF SOUTH MAPLE
STREET.
M M
740,
WHEREAS, this is Woodruff's CDC's third project which
demonstrates continued community based efforts to stimulate
reinvestment in the area; and
WHEREAS, this project involves rehabilitating one (1) home
and construction of two (2) homes in the 500 block of South
Maple Street; and
WHEREAS, the CDC would be responsible for developing the
project, affirmatively marketing the houses, and subsequently
selling the houses to low- income, first time home buyers.
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 enter
into an agreement with Woodruff Community Development
Corporation (CDC) to provide $195,083 in HOME Funds for the
rehabilitation, construction, and sale of three (3) affordable
homes in the 500 block of South Maple Street.
SECTION 2. Funding for this project is available from the
HOME Program CHDO set - aside.
ADOPTED: December 17, 1996
$
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