13625I RESOLUTION NO. 13,625
2
3 A RESOLUTION TO AMEND RESOLUTION NO. 11,637 (DECEMBER
4 31, 2003) PERTAINING TO THE ESTABLISHMENT OF AN ADVISORY
5 BOARD FOR THE MIDTOWN REDEVELOPMENT DISTRICT NO. 1 OF
6 THE CITY OF LITTLE ROCK, ARKANSAS; TO MODIFY THE
7 MEMBERSHIP REQUIREMENTS; AND FOR OTHER PURPOSES.
8
9 WHEREAS, the Advisory Board for the Midtown Redevelopment District No. 1 was established by
10 Little Rock Resolution No. 11,637 on December 31, 2003, to recommend a redevelopment plan and
11 redevelopment financing options for the area of the District; and,
12 WHEREAS, the composition of the Advisory Board membership included an individual
13 recommended in writing by the Little Rock School Board, to represent the School Board's interests in the
14 event that tax increment financing was pursued by the City as a redevelopment financing option pursuant
15 to Amendment 78 of the Arkansas Constitution and Act 1197 of 2001, of the Acts of the General
16 Assembly of the State of Arkansas; and,
17 WHEREAS, the utilization of tax increment financing for municipal redevelopment projects is no
18 longer feasible in light of a 2007 Supreme Court decision that school district millage cannot be included
19 in the tax increment calculation; and,
20 WHEREAS, the School Board position on the Advisory Board is no longer required to protect the
21 School Board's financial interests related to tax increment financing.
22 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
23 OF LITTLE ROCK, ARKANSAS THAT:
24 Section 1. Little Rock Resolution No. 11,637, Section 2 is hereby amended to change the School
25 Board position to an at -large position and to read as follows:
26 The Advisory Board shall be composed of seven (7) members: four (4) of whom shall be
27 owners or duly authorized representatives of owners of real properties within the District's
28 boundaries whose properties are used commercially for office, retail, medical or other
29 business purposes; one (1) of whom shall be a resident of Little Rock whose home address is
30 within two (2) straight line miles of the District's boundaries, including residences within the
31 District; one (1) of whom shall be a representative recommended in writing by the Little
32 Rock Planning Commission; and one (1) of whom shall be an at -large member who is a
33 qualified elector of the City of Little Rock.
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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.
APPROVED: January 8, 2013
ATTEST: _ APPROVED:
City Clerk Mark
AS O LEGAL FORM:
�I �r
Thomas M. Carpenter, Chy Attorney
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