4639 I
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RESOLUTION NO. 4,639
RESOLUTION OF THE BOARD OF DIRECTORS OF THE CITY
OF LITTLE ROCK, ARKANSAS, AUTHORIZING THE PARTICIPATION
IN THE LITTLE ROCK HOUSING AUTHORITY SHARE OF THE COST
OF THE AUDITORIUM PARKING GARAGE AND PUBLIC PLAZA IN
THE CENTRAL LITTLE ROCK URBAN RENEWAL AREA, PROJECT
ARK R-12
WHEREAS, the Housing Authority has under date of July 3, 1962,
entered into a Loan and Capital Grant Contract with the United States of
America providing for financial aid to the Housing Authority under Title I
of the Housing Act of 1949 as amended by all Amendatory Acts ; and
WHEREAS, in 1970 the Housing Authority submitted Part I of an Amendatory
Application for Loan and Grant to the Department of Housing and Urban
Development which included the Auditorium Parking Garage and Public Plaza
Project as a joint undertaking by the City of Little Rock and the Housing
Authority, with the City standing the cost of the Parking Garage and the
Housing Authority standing the cost of the Public Plaza; and
WHEREAS, the Department of Housing and Urban Development has given
its approval to the Housing Authority participating in the cost of the
subject project to the extent of the added cost of the Public Plaza; and
WHEREAS, although the Department of Housing and Urban Development has
approved the Part I of the Application, full funding of the Plaza, presently
estimated at $1,020,000, cannot be accomplished until approval of the
Part II of the Application by the Department of Housing and Urban Develop-
ment; and
WHEREAS, by letter dated February 5 , 1971, the Department of Housing
and Urban Development authorized the Housing Authority to obligate
immediately $600,000 from the presently approved Central Little Rock
Urban Renewal Project for the construction of the Plaza portion of the
project; and
WHEREAS, said $600,000 is the only funds presently available to
the Housing Authority for said project;
e
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS :
That should the Amendatory Application for Loan and Grant for the
Central Little Rock Urban Renewal Project not be approved by the Department
of Housing and Urban Development, the City of Little Rock, Arkansas ,
hereby agrees to stand the increased cost of the Plaza over and above
the $600,000 presently available to the Housing Authority, this increased
cost presently estimated at $420,000.
ADOPTED : August 11, 1971
ATTEST: 01.21.. ,( j APPROVED:
M. or
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