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RESOLUTION NO. 12,358
3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER
4 OF SUPPORT TO THE ARKANSAS DEVELOPMENT FINANCE
5 AUTHORITY FOR RENOVATION OF WESTGATE APARTMENTS,
6 AN EXISTING 224 -UNIT APARTMENT COMMUNITY LOCATED AT
7 5001 W. 65TH STREET, IN THE CITY OF LITTLE ROCK, ARKANSAS;
8 AND FOR OTHER PURPOSES.
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10 WHEREAS, a proposed project has been submitted for the renovation of
11 Westgate Apartments, an existing 224 -unit apartment community located at 5001 W.
12 651h Street, and has been reviewed in accordance with the City's process, and
13 WHEREAS, the project is to be financed through tax - exempt bonds issued by
14 the Arkansas Development Finance Authority, which has requested a letter of support
15 from the Mayor before the project can be approved for tax - exempt bond financing with
16 tax credits.
17 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
18 THE CITY OF LITTLE ROCK, ARKANSAS:
19 Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter
20 of support for the renovation of Westgate Apartments, a 224 -unit apartment
21 community, located at 5001 W. 65t" Street, through tax - exempt bonds issued by the
22 Arkansas Development Finance Authority.
23 Section 2. Severability. In the event any title, section, paragraph, item, sentence,
24 clause, phrase, or word of this resolution is declared or adjudged to be invalid or
25 unconstitutional, such declaration or adjudication shall not affect the remaining
26 portions of the resolution which shall remain in full force and effect as if the portion so
[PAGE 1 OF 21
Resolution
To authorize support for Westgate, Apts.
I declared or adjudged invalid or unconstitutional was not originally a part of the
2 resolution.
3 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that
4 are inconsistent with the provisions of this resolution, are hereby repealed to the extent
5 of such inconsistency.
6 Section 4. This resolution shall be in full force and effect from and after its
7 adoption.
8 ADOPTED: 0CMIR 3, 2006
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10 ATTEST:
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13 N ncy 'Wood, City Clerk
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15 APPROVED AS TO LEGAL FORM:
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18 Thomas M. Carpenter, City Ati6rney
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[PAGE 2 OF 21
Resolution
To authorize support for Westgate, Apts.
APPROVED:
Jim Wiley, Mayor