HomeMy WebLinkAbout14456 1 RESOLUTION NO. 14,456
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3 A RESOLUTION TO APPROVE THE USE OF HOME CHDO SET-ASIDE
4 AND HOME PROGRAM INCOME FUNDS TO CHOOSE THE IN
5 AFFORDABLE HOUSING, INC., TO PROVIDE THREE (3)
6 AFFORDABLE HOUSING UNITS WITHIN THE CITY OF LITTLE
7 ROCK,ARKANSAS; AND FOR OTHER PURPOSES
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9 WHEREAS, the City receives HOME Investment Partnerships Community Development Housing
10 Organization (CHDO) Set-Aside and HOME Program Income Funds to produce affordable housing
11 within the City; and
12 WHEREAS, after a request for proposals the IN Affordable Housing Inc. was selected to receive
13 Four Hundred Thousand Dollars ($400,000.00) to develop three (3) affordable housing units through
14 acquisition of land, construction costs, and developer fees; and,
15 WHEREAS,this recommendation was made by the Community Housing Development Organization
16 (Cl-DO);
17 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
18 OF LITTLE ROCK,ARKANSAS:
19 Section 1. The City Manager is authorized to enter into an agreement with the IN Affordable
20 Housing, Inc., to build three (3) affordable houses within the City utilizing Four Hundred Thousand
21 Dollars($400,000.00)of HOME Funds to acquire,construction, and develop such housing.
22 Section 2. Funds for this agreement are available in the HOME Investment Partnerships Community
23 Development Housing Organization Set-Aside and HOME Program Income Funds the City receives.
24 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
25 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
26 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
27 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
28 resolution.
29 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
30 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
31 ADOPTED: November 15,2016
32 A APPRO is
33 ,'� � 1 /
1 f /
34 Nr�.1�`' `
35 iii�� City Clerk Mark Stodola,Mayor
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1 APPROVED AS TO LEGAL FORM:
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3 k1,044.444-
4 Thomas M. Carpenter, City Atto tfy
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