13679 2013034889 Received:
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Recorded in Official Records of Larry
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J - RESOLUTION NO 13,679 Fees s20.00
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.�� �, SOLUTION TO TRANSFER LAND BANK PROPERTY TO THE Ei
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4 ,ilill► METROPOLITAN HOUSING ALLIANCE BY WARRANTY DEED FOR
5 NEIGHBORHOOD STABILIZATION PROGRAM 2 DEVELOPMENT;
6 TO BE USED FOR NEIGHBORHOOD REVITALIZATION PROGRAMS;
7 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, the Department of Housing and Urban Development (HUD) awarded the City of Little
16 Rock, the Metropolitan Housing Alliance (formerly known as the "Little Rock Housing Authority"),
17 Better Community Developers, and Habitat for Humanity (hereinafter "the Consortium Members"), the
18 Neighborhood Stabilization Program 2 (hereinafter"NSP2") Grant in the amount of$8.6 million dollars;
19 and,
20 WHEREAS, the NSP2 Grant will be used for the purpose of providing affordable housing within
21 neighborhoods which have 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 June 8, 2012, the Land Bank Program acquired the property located at 1513 South
25 Valmar Street, Little Rock, Arkansas, for the total purchase price of$2,900.00; and,
26 WHEREAS,the parcel is a 6,440 square-foot vacant lot with no structure; and,
27 WHEREAS, the Metropolitan Housing Alliance has indicated a desire to build a new single-family
28 home on the property located at 1513 South Valmar Street; and,
29 WHEREAS, the City's Land Bank wishes to transfer the property located at 1513 South Valmar
30 Street to the Metropolitan Housing Alliance by warranty deed for use in its neighborhood revitalization
31 efforts;and,
32 WHEREAS, there will be no monetary consideration paid by the Metropolitan Housing Alliance for
33 the property located at 1513 South Valmar Street, pursuant to restrictions within the NSP2 Federal
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1 Guidelines which prohibit the City, as the Lead Grantee of the Consortium, from accepting monetary
2 consideration from a Consortium Member for real estate already owned by the City; and,
3 WHEREAS, State law requires that the City convey property by resolution adopted by the Board of
4 Directors;
5 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
6 OF LITTLE ROCK,ARKANSAS:
7 Section 1. The Board of Directors hereby adopts this Resolution to authorize the City's Land Bank to
8 transfer to the Metropolitan Housing Alliance by warranty deed the property located at 1513 South
9 Valmar Street for the purpose of providing affordable housing pursuant to NSP2 Grant requirements.
10 Section 2. The property shall be used for a public purpose, specifically for neighborhood
11 revitalization programs.
12 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
13 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
14 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
15 effect a if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
16 ordinance.
17 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same that are inconsistent with
18 the provisions of this resolution are hereby repealed to the extent of such inconsistency.
19 ADOPTED: May 7,2013
20 AT APPROVED:
21
22 Y / �±if
23 i usa Langle City Clerk Mark Stodola,Mayor
24 A R VEDAS TO LEGAL FORM:
25
26 W 1
27 Thomas M. Carpenter,City At ne
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