13381I RESOLUTION NO. 13,381
2
3 A RESOLUTION TO TRANSFER CITY OF LITTLE ROCK LAND BANK
4 PROPERTY TO BETTER COMMUNITY DEVELOPERS BY
5 QUITCLAIM DEED, NEIGHBORHOOD STABILIZATION PROGRAM 2
6 DEVELOPMENT; TO BE USED FOR NEIGHBORHOOD
7 REVITALIZATION PROGRAMS; AND FOR OTHER PURPOSES.
8
9 WHEREAS, the Board of Directors has stated as one of its goals a desire to provide for
10 neighborhood revitalization, and has taken special efforts to accomplish this goal through its use of
11 various City and Federal funds, and in affirmative actions such as the creation of a Land Bank
12 Commission; and,
13 WHEREAS, in order to accomplish this goal the City's Land Bank has acquired numerous properties
14 in areas that are appropriate for revitalization; and,
15 WHEREAS, in February of 2010, the Department of Housing and Urban Development (HUD)
16 awarded the City of Little Rock, the Little Rock Housing Authority, Better Community Developers, and
17 Habitat for Humanity (hereinafter "the Consortium Members ") the Neighborhood Stabilization Program 2
18 (hereinafter "NSP2 ") grant in the amount of $8.6 million dollars; and,
19 WHEREAS, the NSP2 Grant will be used for the purpose of acquiring and rehabilitating properties,
20 providing affordable housing, and improving the health and safety within neighborhoods which have
21 experienced an extended period of decline and destabilization; and,
22 WHEREAS, in an effort to maximize the City's revitalization efforts, the Land Bank wishes to
23 convey underutilized parcels to NSP2 Consortium Members for development; and,
24 WHEREAS, on July 13, 2010, the City's Land Bank acquired the property located at 905 South
25 Maple Street, Little Rock, Arkansas, at the Arkansas State Land Commissioner's Auction for the total
26 purchase price of $2,848.04; and,
27 WHEREAS, the parcel is a weed lot with no structure; and,
28 WHEREAS, Better Community Developers has indicated a desire to use NSP2 Funds to build a new
29 home on the Land Bank -held property located at 905 South Maple Street; and,
30 WHEREAS, Better Community Developers has procured a law firm to quiet title on the property
31 located at 905 South Maple to remedy all noted title issues and obtain marketable title; and,
32 WHEREAS, the City's Land Bank wishes to transfer the property to Better Community Developers
33 by quitclaim deed for use in its neighborhood revitalization efforts; and,
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I WHEREAS, there will be no monetary consideration paid by Better Community Developers for the
2 property located at 905 South Maple Street, pursuant to a restriction within the NSP2 Federal Guidelines
3 which prohibits the City from accepting monetary consideration from a Consortium Member for real
4 estate already owned by the City; and,
5 WHEREAS, State law requires that the City convey property by resolution adopted by the Board of
6 Directors;
7 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
8 OF LITTLE ROCK, ARKANSAS:
9 Section 1. The Board of Directors hereby adopts this resolution to authorize the City's Land Bank to
10 transfer to Better Community Developers by quitclaim deed the property located at 905 South Maple
11 Street for the purpose of providing affordable housing pursuant to NSP2 Grant requirements.
12 Section 2. The property shall be used for a public purpose, specifically for neighborhood
13 revitalization programs.
14 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
15 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
16 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
17 effect a if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
18 ordinance.
19 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same that are inconsistent with
20 the provisions of this resolution are hereby repealed to the extent of such inconsistency.
21 ADOPTED: October 18, 2011
22 TTES APPROVED:
23
24
25 Susan ey, City Clerk Mark Stodola, Mayor
26
27 APPROVED AS TO LEGAL FORM:
28
29
30 Thomas M. Carpenter, Ci Attorney
31 H
32 H
33 H
34 H
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