2632 RESOLUTION NO. 2,632
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE RCCK, ARKANSAS,
APPROVING UNDERTAKING OF SURVEYS AND
PLANS FOR AN URBAN RENEWAL PROJECT AND
FILING OF AN APPLICATION FOR FEDERAL
ADVANCE OF FUNDS FOR THE SOUTH END AREA
COLISEUM PROJECT
WHEREAS, under Title I of the Housing Act of 1949, as amended
(herein referred to as "Title I"), the Housing and Home Finance Administrator
is authorized to extend financial assistance to local public agencies in the
elimination and prevention of the spread of their slums and urban blight
through the planning and undertaking of urban renewal projects; and
WHEREAS, it is desirable and in the public interest that the
Housing Authority of the City of Little Rock, Arkansas, make surveys and
prepare plans, presently estimated to cost approximately ninety-seven
thousand six hundred fifteen dollars ($97,615.00), in order to under-
take and carry out an urban renewal project of the character contemplated
by Section 110(c) of Title I, in that area proposed as an Urban Renewal
Area, situated in the City of Little Rock, County of Pulaski, State of
Arkansas, which is described as follows:
Beginning at the northwest corner of the intersection of
Roosevelt Road and Park Avenue, thence east along the north
right-of-way line of Roosevelt Road to a point at the north-
west corner of the intersection of Roosevelt Road and High
Street, thence south along the west right-of-way line of High
Street, to a point at the southwest corner of High Street and
West 34th Street, thence west along the south right-of-way of
West 34th Street to a point at the southeast corner of West
34th Street and Wolfe Street, thence south along a projection
of the east right-of-way line of Wolfe Street to the north
right-of-way line of the CRI&P Railroad, thence along said
north right-of-way line of the CRI&P Railroad to a point at
the south boundary line of the Livestock Show Grounds, thence
east along said show grounds boundary to a point on the west
right-of-way line of Park Avenue, thence north along said west
right-of-way line of Park Avenue to the point of beginning.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
CITY OF LITTLE ROCK, ARKANSAS:
1. That the proposed Urban Renewal Area described above is a slum,
blighted, deteriorated, or deteriorating area appropriate for an urban
renewal project and that the undertaking by the Housing Authority of surveys
and plans for an urban renewal project of the character contemplated by
Section 110(c) of Title I in the proposed Urban Renewal Area is hereby
approved.
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2. That the financial assistance available under Title I is
needed to enable the Housing Authority to finance the planning
and undertaking of the proposed Project.
3. That it is cognizant of the conditions that are imposed in
the undertaking and carrying out of urban renewal projects with Federal
financial assistance under Title I, including those relating to the
relocation of site occupants, to the provision of local grants-in-aid,
and to the requirement that as a condition to the execution of a contract
for a loan or capital grant for an urban renewal project the locality
present tothe Housing and Home Finance Administrator a Workable Program,
as set forth in Section 101(c) of Title I, for utilizing appropriate public
and private resources to eliminate and prevent the development or spread
of slums and urban blight; and that it is the sense of this body (a) that
a feasible method for the relocation of families displaced from the urban
renewal area, in conformity with Title I can be prepared, and (b) that
the local grants-in-aid can and will be provided in an amount which will
be net less than one-third of the Net Project Cost of the Project and
which, together with the Federal capital grant, will be generally equal
to the difference between Gross Project Cost and the proceeds or value
of project land sold, leased, or retained for use in accordance with
the urban renewal plan.
14. That the filing of an application by the Housing Authority of
the City of Little Rock, Arkansas, 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 project in the proposed Urban Renewal Area
described above is hereby approved.
ADOPTED: January 16, 1961 /
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ATTEST? Jj , D�j APPROVED:
City Clerk Asst. Mayor