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RESOLUTION NO. 13,134
A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER OF
SUPPORT TO THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY
FOR THE REHABILITATION OF BUFFINGTON TOWERS APARTMENTS,
LOCATED AT 224 EAST 7TH STREET, IN THE CITY OF LITTLE ROCK,
ARKANSAS; AND FOR OTHER PURPOSES.
WHEREAS, a proposed project has been submitted for the full rehabilitation of the one hundred
nine (109) unit Buffington Towers Apartment, complex at 224 East 7`h Street and has been reviewed in
accordance with the City's process, and
WHEREAS, the project is to be financed through tax - exempt bonds issued by the Arkansas
Development Finance Authority, which has requested a letter of support from the Mayor before the
project can be approved for tax - exempt bond financing with tax credits.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
OF LITTLE ROCK, ARKANSAS:
Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter of support for the
full rehabilitation of the one hundred nine (109) unit Buffington Towers Apartment complex at 224 East
7"' Street, through tax - exempt bonds issued by the Arkansas Development Finance Authority.
Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
resolution.
Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
Section 4. This resolution shall be in full force and effect from and after its adoption.
ADOPTED: May 18, 2010
APPROV A O LEGAL FORM:
Thomas M. Carpenter, City J ttolrney
APPROVED:
Mark Stodola, Mayor