18843• • 2003027645
83/25/2883 81:13:48 PH
Filed 8 Recorded in
Official Records of
CAROLYN STRLEY
PULASKI COUNTY
I ORDINANCE NO. 18,843 CIRCUI28.CO8 TY CLERK
rees 2
3 AN ORDINANCE ESTABLISHING THE MIDTOWN
4 REDEVELOPMENT DISTRICT WITHIN THE CITY OF LITTLE
5 ROCK, PRESCRIBING THE BOUNDARIES THEREOF; AND
6 FOR OTHER PURPOSES.
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8 WHEREAS, the City of Little Rock, Arkansas (the "City"), a city of the first class,
9 has the power, pursuant to Amendment 78 of the Arkansas Constitution and Act 1197
10 of 2001 of the Acts of the General Assembly of the State of Arkansas (the "Act "), to
11 create redevelopment districts within the City; and
12 WHEREAS, the City, in conjunction with interested property owners, has
13 determined that creation of the redevelopment district identified herein would benefit
14 the City; and
15 WHEREAS, pursuant to Section 6 of the Act, notice of the City's intention to
16 create the redevelopment district has been published in a newspaper of general
17 circulation at least fifteen (15) days prior to the public hearing for these purposes and
18 has been sent by first class mail to the chief executive officer of all local governments
19 and entities having the power to levy taxes on property located within the proposed
20 redevelopment district and to the Board of Directors of the Little Rock School District;
21 and
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Ordinance
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1 WHEREAS, on March 18, 2003, a public hearing was held at which interested
2 parties were afforded a reasonable opportunity to express their views on the proposed
3 creation of the redevelopment district and its proposed boundaries;
4 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS
5 OF THE CITY OF LITTLE ROCK, ARKANSAS:
6 Section 1: The Board of Directors makes the finding and determination that by
7 creating the redevelopment district encompassing the real property described in Section
8 2 herein below, the real property therein will be benefited by the elimination or
9 prevention or spread of deteriorating areas, discouraging the loss of cotnmerce,
10 industry, or employment, and increasing employment within the district.
11 Section 2: There is hereby established the redevelopment district encompassing
12 the following lands:
13 Lands generally described as: all of the lands in the NE 1/4 of the SE 1/4 of
14 T1N -R13W Sec. 1; all of the lands in the E 1/z of the NE 1/4 of T1N -R13W Sec
15 1; pt. NW SW T2N R12W Sec. 31 S of Evergreen St. extended NW SW exc.
16 The E 10 ft. thereof and exc. That pt. Platted as Its. 1 & 2 University & H St.
17 Addn.; All of University & H St. Addn.; All of Lincoln Park Addn. Blks 8,
18 9, 24, 25; All of Plunket, Howard & Adams' 2nd replat; All of Howard
19 Adams Blks 15 & 16; Fausett's Sub. Blk. 2; Oak Grove Addn. Blk 2; All of
20 Orlando Heights Sub. Blks 1 & 2; Strong & Watters Addn. Alls of Blk 1 &
21 2; Pfeifers Addn. Blks 9, 10, 11; Wornock's Addn. Blks 7, 8; Banks Sub.
22 Blks 5, 6; Elmhurst addn. Lts. 8 — 19, Blk. 5, Lts. 8 — 19, Blk 6, Lts. 8 — 19,
23 Blk 7, Lts. 8 —19, Blk 8; All of Thalheimer Sub.; All of Blankinship Sub.; All
24 of Pinehurst Addn. Blk 4; Riffel & Rhoton Ridgeland addn. Lts. 7 — 20, Blk
25 3, Lts. 7 — 20, Blk 4.
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Ordinance
Mid -Town Redevelopment District
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Section 3: The name of the redevelopment district shall be "Midtown
Redevelopment District No. 1 of the City of Little Rock."
Section 4: The City also hereby establishes the Midtown Redevelopment District
No. 1 Fund (the "Midtown Redevelopment District No. 1 Special Fund "). In the event
the district's project plan and financing plan are subsequently adopted by separate
ordinances by the Board of Directors of the City of Little Rock, any tax increment
revenues and other revenues designated by the City for the benefit of the district shall
be deposited in the fund, and from the fund all project costs shall be paid. This special
fund may be assigned to and held by a trustee for the benefit of bond holders if tax
increment financing is used.
Section 5: A project plan shall be prepared and adopted by ordinance of the
City in conformance with Section 7 of the Act.
Section 6: The provisions of this ordinance are hereby declared to be severable
and, if any provision hereof shall for any reason be held illegal or invalid , such holding
shall not affect the validity of the remainder of this ordinance.
Section 7: All resolutions or ordinances and parts thereof in conflict herewith are
hereby repealed to the extent of such conflict.
Section 8: Severability. In the event any portion of this ordinance is declared or
adjudged to be invalid or unconstitutional, such declaration or adjudication shall not
affect the remaining portions of the ordinance, which shall remain in full force and
Ordinance
Mid -Town Redevelopment District
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1 effect as if the portion so declared or adjudged invalid or unconstitutional was not
2 originally a part of this ordinance.
3 Section 9: Repealer. All laws, ordinances and regulations and parts thereof in
4 conflict with this ordinance are hereby repealed to the extent of such inconsistency.
5 PASSED: March 18, 2003
6 ATTEST:
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9 Nan Wo d, City Clerk
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11 APPROVED AS TO LEGAL FORM:
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14 Thomas M. Carpenter, City Attorney
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Ordinance
Mid -Town Redevelopment District
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APPROVED:
%U44, a (�Y�
Ji ailey, Mayor