2188 Resolution No . 2188
RESOLUTION REQUESTING THE RESERVATION OF CAPITAL GRANT FUNDS,
APPROVING THE UNDERTAKING OF SURVEYS AND PLANS FOR AN URBAN
RENEWAL AND REDEVELOPMENT PROJECT, AND THE FILING OF AN APPLI-
CATION FOR FEDERAL ADVANCE OF FUNDS FOR THE HIGH STREET AREA
IN LITTLE ROCK, PULASKI COUNTY, ARKANSAS: AND FOR OTHER
PURPOSES
v ERiAS, under Title I of the Housing Act of 1949, as amended by all
amendatory acts including the Housing Act of 1954 and the Housing Amendments
through 1958, the Housing and Hone Finance Administrator is authorized to ex-
tend financial assistance to localities in the elimination and prevention of
the spread of their slums and urban blight through the planning and undertaking
of urban renewal and redevelopment projects; and
WEEREAS, it is desirable and in the public interest that the Housing
Authority of the City of Little Rock prepare surveys and plans in order to
undertake and carry out an urban renewal and redevelopment project of the
character contemplated by Section 110(c) of said Title I, in that certain area,
proposed as an Urban Renewal and Redevelopment Area, situated in the City of
Little Rock, County of Pulaski, and State of Arkansas, and described as follows:
Bounded generally on:
The north by a line drawn half-way between West
Seventh and West Eighth Streets; on the east by
Arch Street, Philander Smith College and State
Street; on the south by Wright Avenue and the
Dunbar Project; and on the west by Bishop and
High Streets.
WHEREAS, the above-cited Federal law requires as a condition to the
execution of a contract for a loan and capital grant for an urban renewal and
redevelopment project that the locality present to the Housing and Home Finance
Administrator a workable program, as set forth in Section 101(c) of said Title I,
for utilizing appropriate public and private resources to eliminate and prevent
the development or spread of slums and urban blight, to encourage needed urban
rehabilitation, to provide for the redevelopment of blighted, deteriorated, or
slum areas or to undertake such other feasible community activities as may be
suitably employed to achieve the objectives of such a program; and
WHEREAS, it is recognized that contracts for loans and capital grants
for urban renewal and redevelopment projects will require, among other things,
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(1) the approval of the urban renewal and redevelopment plan by the governing
body of the locality in which the project is situated; (2) the provisions of
local grants-in-aid which may consist of donations of cash, land, demolitin
or removal work, and the installation, construction or reconstruction of streets,
utilities, parks, playgrounds or other improvements or the provision of other
public buildings or facilities; and (3) the development of a feasible method for
the relocation of families displaced from the urban renewal and redevelopment area.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS, that:
Section 1. The proposed Urban Renewal and Redevelopment Area des-
cribed above is a slum, blighted, deteriorated or deteriorating area appropriate
for an urban renewal and redevelopment project and that the undertaking by the
Housing Authority of the City of Little Rock of surveys and plans for an urban
renewal and redevelopment project of the character contemplated by Section 110(c)
of the Housing Act of 1949, as amended and supplemented, in the proposed Urban
Renewal and Redevelopment Area described above, is hereby approved,
Section 2. The financial assistance provided under said Title I to
assist urban renewal and redevelopment projects is needed and that the Housing
and Home Finance Administrator is hereby requested to reserve for an urban re-
newal and redevelopment project in the proposed Urban Renewal and Redevelopment
Area described above, Federal capital grant funds in an amount sufficient to
enable the Housing Authority of the City of Little Rock to finance the under-
taking of the Project.
Section 3. That it is cognizant of the conditions that are imposed
in the undertaking and carrying out of urban renewal and redevelopment projects
with Federal financial assistance under Title I, including the requirements of
said Title I respecting the workable program mentioned above, and that it is the
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sense of this body (a) that a feasible method for the relocation of families
displaced from the urban renewal and redevelopment area, in conformity with said
Title I, can be prepared, and (b) that local grants-in-aid, consisting of donations
of cash, land, demolition or removal work, and the installation, construction or
K„ems
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reconstruction of streets, utilities, parks, playgrounds or other improvements
or the provision of other public buildings or facilities, necessary for carrying
out in the Urban Renewal and Redevelopment Area the urban renewal and redevelop-
ment objectives of said Title T in accordance with the urban renewal and redevel-
opment plan, can and will be provided in an amount which will not be less than
one-third of the net project cost and which, together with the Federal capital
grant, will be generally equal to the difference between gross project costs
and the proceeds or value of project land sold, leased or retained for use in
accordance with the urban renewal and redevelopment plan.
Section 4. The filing of an application by the Rousing Authority of
the City of Little Rock for an advance of funds from the United States of America
to enable it to defray the cost of the surveys and plans for an urban renewal
and redevelopment project in the urban renewal and redevelopment area described
above is hereby approved.
Approved:
c 6s
Adopted: March 17, 1958 W. C. Knoop
Attest:
/I/44'4-
E. Jack Murphy
A c t ing City Clerk