12621I RESOLUTION NO. 12,621
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3 A RESOLUTION TO PROVIDE CITY ECONOMIC DEVELOPMENT FUNDS FOR
4 INFRASTRUCTURE IMPROVEMENTS IN SUPPORT OF THE DASSAULT
5 FALCON JET EXPANSION PROJECT; AND FOR OTHER PURPOSES.
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7 WHEREAS, Dassault Falcon Jet, Inc. is an integral part of the City's economic climate and
8 community, and the City recognizes that the overwhelming majority of new jobs come from
9 existing business expansion, and
10 WHEREAS, Dassault Falcon Jet's expansion on Little Rock Airport property will provide for
11 the creation of 178 new full -time jobs with a capital investment of $30 million, and
12 WHEREAS, the City obtained a grant from the Arkansas Department of Economic
13 Development in support of Dassault Falcon Jet's construction of a new Service Center and
14 Storage building and for required utility and infrastructure improvements, including additional
15 parking space, and
16 WHEREAS, the Arkansas Department of Economic Development has allotted a total of
17 $1,789,222 in economic development grant funds for the Dassault Falcon Jet improvements,
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19 WHEREAS, in November of 2006, pursuant to Little Rock Resolution No. 12,355, the City
20 provided infrastructure grant funds to the Little Rock Airport in the amount of $50,000 for the
21 construction of storm drainage facilities for the Dassault Falcon Jet expansion project, and
22 WHEREAS, the City wishes to provide an additional $50,000 to the Little Rock Airport for
23 utility and infrastructure improvements in support of Dassault Falcon Jet's expansion project.
24 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
25 ROCK, ARKANSAS:
26 Section 1. The City Manager is hereby authorized to pay the Little Rock Airport Fifty
27 Thousand Dollars ($50,000.00) for utility and infrastructure improvements for the Dassault
28 Falcon Jet expansion project.
29 Section 2. Funding for this payment is available from the City's Economic Development 07
30 Special Project Account (SOOT462). The total project grant amount is $1,889,222.00. The
31 City's share of that contribution is $100,000.00.
32 Section 3. This resolution will be in full force and effect from and after the date of its
33 adoption.
34 Section 4. Severabi/ity. In the event any title, section, paragraph, item, sentence, clause,
35 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional,
36 such declaration or adjudication shall not affect the remaining portions of the resolution which
37 shall remain in full force and effect as if the portion so declared or adjudged invalid or
38 unconstitutional was not originally a part of the resolution.
39 Section 5. Repealer. All laws, ordinances, resolution, or parts of the same, that are
40 inconsistent with the provisions of this resolution, are hereby repealed to the extent of such
41 inconsistency.
Resolution to provide City Economic Development Funds
For infrastructure improvements in support of the
Dassault Falcon Jet expansion project
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2 ADOPTED: December 18, 2007
3 ATTEST:
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7 Nan4 Wood, i y Clerk
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9 APPROVED AS TO LEGAL FORM:
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12.E rvt• —
13 Thomas M. Carpenter, City A rney
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Resolution to provide City Economic Development Funds
For infrastructure improvements in support of the
Dassault Falcon Jet expansion project
APPROVED:
Mark Stodola, Mayor