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6940RESOLUTION NO. 6,940 M M ® M A RESOLUTION EXPRESSING THE CITY BOARD OF DIRECTORS' INTENT TO APPROPRIATE UP TO $80,000 OF THE LITTLE ROCK RESIDENTIAL HOUSING BOARD TURNBACK MONIES FOR THE PREPARATION OF THE SITE LOCATION DETERMINATION, PRELIMINARY DESIGN, FINANCIAL FEASIBILITY AND FUNDING MECHANISM FOR THE CONSTRUCTION OF A SPORTS AND ENTER - TAIN14ENT FACILITY. WHEREAS, Central Arkansas has a need for the construction of a sports and entertainment facility; and WHEREAS, the construction of such facility and its operation would create many new jobs and tax revenues in this community; and WHEREAS, construction of such a facility would enhance the quality of life for all those in Central Arkansas. BE IT HEREBY RESOLVED as follows: 1. The Little Rock City Board of Directors does hereby 291 express its intent to appropriate up to $80,000 of the Little Pock Residential Housing Board turnback monies for the preparation of the site location determination, preliminary design, financial feasibility and funding mechanism for the construction of a sports and entertainment facility. 2. Webb Hubbell, as the Board's representative, is hereby authorized to meet with the following group of Arkansas businesses and prepare a budget to be submitted to the City Board for the site location for such a facility, prepare preliminary designs for such a facility and the financial feasibility and funding mechanism for the construction of said facility, for approval and appropriation of funds by the City of Little Rock. ARCHITECTS Blass, Chilcote, Carter, Lanford & Wilcox Wittenberg, Delony & Davidson Cromwell, Truemper, Levy, Parker & Woodsmall, Inc. CONTRACTOR Pickens -Bond Construction Company ATTORNEYS Friday, Eldredge & Clark Wright, Lindsey & Jennings Rose Law Firm ACCOUNTANTS Peat, Marwick, Mitchell & Company Page 2 FINANCIAL ADVISORS T. J. Raney & Sons Stephens, Inc. 292 3. Webb Hubbell is also authorized to consult with both the staff of the City of Little Pock and to bring into the project such other individuals who can assist within the confines of the budget in preparing the site location determination, preliminary design and financial feasibility and funding mechanism for the construction of said facility. Dated this 23rd day of February, 1983. ATTEST: �QpZ,Q� ( APPROVED: V Jane Czech, City Clerk J. W. Benafield, Mayor