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10512I RESOLUTION NO. 10,512 138 N 3 A RESOLUTION AUTHORIZING THE CITY MANAGER TO 4 ENTER INTO A CONTRACT WITH THE UALR INSTITUTE FOR 5 ECONOMIC ADVANCEMENT AND THE CENTRAL ARKANSAS 5 PLANNING DEVELOPMENT DISTRICT, JOINTLY TO DEVELOP 7 AN ECONOMIC RECOVERY STRATEGY TO IDENTIFY 8 SOLUTIONS TO ECONOMIC PROBLEMS CREATED BY THE 9 JANUARY 21, 1999, TORNADOES. to WHEREAS, this strategy is being developed with funding assistance from the 11 Department of Commerce/Economic Development Administration's Economic Adjustment 12 Grant Program; and 13 . WHEREAS, the City wrote a pre - proposal application and was invited to submit 14 a full application for this funding after the January 21, 1999, tornadoes; and 15 WHEREAS, this strategy will provide a broad range of strategies related to 16 housing, historic preservation and all other aspects of economic renewal as well as the 17 recovery of businesses directly impacted by the storm. 18 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF 19 DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS: 20 SECTION 1. The City Manager is authorized to enter into a contract with the 21 UALR Institute for Economic Advancement and the Central Arkansas Planning 22 Development district jointly, to develop an Economic Recovery Strategy contingent upon 23 grant award from EDA. 24 SECTION 2. The City is applying for $100,000 in funding assistance from the 25 Economic Development Administration for development of this strategy. The grant may 25 require a 20% cash or in -kind match. 27 SECTION•3. This resolution shall be in full force and effect from and after its 28 adoption. I ADOPTED: April 6, 1999 2 ATTEST: 3 40 big Q•o 4AZA c4— ROBBIE HAN OCK 5 CITY CLERK 6 7 APPROVED AS TO FORM: 8 `t l THOMAS M. CARPENTUR 10 CITY ATTORNEY 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 APPROVED: ALLEY MAYOR 1uJ