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1 RESOLUTION NO. 11,630
2
3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A
4 LETTER OF SUPPORT TO THE ARKANSAS DEVELOPMENT
5 FINANCE AUTHORITY FOR THE PLAZA TOWER
6 APARTMENTS, LOCATED AT 6115 MARKHAM STREET, FOR
7 A ONE HUNDRED THIRTY -TWO (132) UNIT APARTMENT
8 COMPLEX; AND FOR OTHER PURPOSES.
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10 WHEREAS, a proposed project has been submitted for the renovation of 132
11 existing units in the Plaza Tower Apartments located at 6115 Markham Street, and has
12 been reviewed in accordance with the City's process, and
13 WHEREAS, the applicant proposes to have all of the units available as affordable
14 housing units, and
15 WHEREAS, the project is to be financed through tax- exempt bonds issued by
16 the Arkansas Development Finance Authority, which has requested a letter of support
17 from the Mayor before the project can be approved for tax - exempt bond financing with
18 tax credits.
19 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
20 THE CITY OF LITTLE ROCK, ARKANSAS:
21 Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter
22 of support for the renovation of one hundred thirty-two (132) apartment units in the
23 Plaza Tower Apartments, located at 6115 Markham Street, through tax - exempt bonds
24 issued by the Arkansas Development Finance Authority.
25 Section 2. Severability. In the event any title, section, paragraph, item, sentence,
26 clause, phrase, or word of this resolution is declared or adjudged to be invalid or
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Resolution
To authorize letter of support to ADFA
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1 unconstitutional, such declaration or adjudication shall not affect the remaining
2 portions of the resolution which shall remain in full force and effect as if the portion so
3 declared or adjudged invalid or unconstitutional was not originally a part of the
4 resolution.
5 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that
6 are inconsistent with the provisions of this resolution, are hereby repealed to the extent
7 of such inconsistency.
8 Section 4. This resolution shall be in full force and effect from and after its
9 adoption.
10 ADOPTED: November 18, 2003
11 ATTEST: APPROVED:
12
13
14 Nancy ood, ity Clerk Jim D ' ey, Mayor
15
16 APPROVED AS TO FORM:
17
19 Thomas M. Carpenter, eity Attorney
20
21
22
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Resolution
To authorize letter of support to ADFA