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RESOLUTION NO. 11,908
3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A
4 LETTER OF SUPPORT TO THE ARKANSAS DEVELOPMENT
5 FINANCE AUTHORITY FOR THE SQUIRE COURT
6 APARTMENTS, A ONE HUNDRED FIFTY -SIX (156) UNIT
7 APARTMENT COMPLEX LOCATED AT 5201 GEYER SPRINGS
8 ROAD; AND FOR OTHER PURPOSES.
E
10 WHEREAS, a proposed project has been submitted for the renovation of 156
11 existing units and common areas in the Squire Court Apartments located at 5201 Geyer
12 Springs Road, and has been reviewed in accordance with the City's process, and
13 WHEREAS, the rehabilitation plan includes a complete physical overhaul of the
14 existing units and common areas, building a community center on the property,
15 providing activities and services for the residents and neighbors, and
16 WHEREAS, the project is to be financed through tax - exempt bonds issued by
17 the Arkansas Development Finance Authority, which has requested a letter of support
18 from the Mayor before the project can be approved for tax - exempt bond financing with
19 tax credits.
20 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
21 THE CITY OF LITTLE ROCK, ARKANSAS:
22 Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter
23 of support for the renovation of one hundred fifty -six (156) apartment units in the
24 Squire Court Apartments, located at 5201 Geyer Springs Road, through tax - exempt
25 bonds issued by the Arkansas Development Finance Authority.
26 H
[PAGE 1 OF 21
Resolution
To authorize letter of support for Squire Court Apts.
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Section 2. Severability. In the event any title, section, paragraph, item, sentence,
clause, phrase, or word of this resolution is declared or adjudged to be invalid or
unconstitutional, such declaration or adjudication shall not affect the remaining
portions of the resolution which shall remain in full force and effect as if the portion so
declared or adjudged invalid or unconstitutional was not originally a part of the
resolution.
Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that
are inconsistent with the provisions of this resolution, are hereby repealed to the extent
of such inconsistency.
Section 4. This resolution shall be in full force and effect from and after its
adoption.
ADOPTED: February 1, 2005
ATTEST:
Na*y WooA, City Clerk
APPROVED AS TO FORM:
101--i kU
Thomas M. Carpenter, City Attorney
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Resolution
To authorize letter of support for Squire Court Apts.
[PAGE 2 OF 21
APPROVED:
(44W
Jim rwley, Mayor