HomeMy WebLinkAbout13885 1 RESOLUTION NO. 13,885
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3 A RESOLUTION TO AUTHORIZE THE EXPENDITURE OF $95,616.00
4 FOR THE RENTAL OF SPACE FOR THE LITTLE ROCK TECHNOLOGY
5 PARK AUTHORITY; AND FOR OTHER PURPOSES.
6
7 WHEREAS, pursuant to Little Rock, Ark., Ordinance No. 20,325 (September 21, 2010),the Board of
8 Directors authorized the creation of, and City participation in, the Central Arkansas Technology Park
9 Authority("the Authority"); and,
10 WHEREAS,the Authority now operates under the name the Little Rock Technology Park Authority;
11 and,
12 WHEREAS,while the Authority is in the process of developing more permanent plans for the creation
13 and location of an overall site for the fulfillment of its plans,but in the meantime is ready to begin operations
14 with rental space in Downtown Little Rock and has requested assistance from the City in the payment of
15 for one (1)-year of a Seven Thousand, Nine Hundred Sixty-Eight Dollars ($7,968.00) per month lease
16 payment, provided there is agreement on the tenant improvement allowance; and,
17 WHEREAS, in this space will be the initial headquarters of the Authority where, among other things,
18 the Executive Director of the Authority, once hired, will be located; and,
19 WHEREAS,the Board of Directors has determined that this is an expenditure of public monies as long
20 as these monies are not part of the Capital Sales and Compensating Use Tax revenues dedicated to use by
21 the Authority;
22 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
23 OF LITTLE ROCK,ARKANSAS:
24 Section 1. The sum of Ninety-Five Thousand, Six Hundred Sixteen Dollars ($95,616.00) is hereby
25 appropriated so the Authority can lease space for one (1)-year at 107 East Markham Street, Little Rock,
26 Arkansas,to be used by ARK Challenge and the Authority to foster entrepreneurship at a fundamental level.
27 Section 2. The source of these funds is to be identified by the City Manager, but shall not include any
28 proceeds of the 3/8-Cent Capital Sales and Compensating Use Tax.
29 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
30 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
31 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
32 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
33 resolution.
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1 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same,that are inconsistent with
2 the provisions of this resolution are hereby repealed to the extent of such inconsistency.
3 ADOPTED: May 6,2014
4 Nryli. APPROVE
6 VO' 6 al All /
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7 'usan gCity Clerk Mdrk Stodola,Mayor
8 APPR 1 : TO LEGAL FORM:
9 M , eic.44/4_____
11 Thomas M. Carpenter, City Attob ey
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