HomeMy WebLinkAbout124311 RESOLUTION NO. 12,431
2
3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER OF SUPPORT
4 TO THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY FOR
5 CONSTRUCTION OF HOMETOWNE AT MABELVALE PIKE, A PROPOSED 148-
6 UNIT DEVELOPMENT RESTRICTED TO ELDERLY TENANTS, TO BE LOCATED AT
7 THE SOUTHEAST CORNER OF MABELVALE PIKE AND NORTH CHICOT ROAD, IN
8 THE CITY OF LITTLE ROCK, ARKANSAS; AND FOR OTHER PURPOSES.
9
10 WHEREAS, a proposed project has been submitted for the construction of HomeTowne at
11 Mabelvale Pike, a 148 -unit development to be located at the Southeast corner of Mabelvale Pike and
12 North Chicot Road, 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 the Arkansas
14 Development Finance Authority, which has requested a letter of support from the Mayor before the
15 project can be approved for tax - exempt bond financing with tax credits.
16 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE
17 ROCK, ARKANSAS:
18 Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter of support for
19 the construction of HomeTowne at Mabelvale Pike, a 148 -unit development to be located at the
20 Southeast corner of Mabelvale Pike and North Chicot Road and restricted to elderly tenants, through
21 tax - exempt bonds issued by the Arkansas Development Finance Authority.
22 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause,
23 phrase, or word of this resolution is declared or adjudged to be invalid or unconstitutional, such
24 declaration or adjudication shall not affect the remaining portions of the resolution which shall remain
25 in full force and effect as if the portion so declared or adjudged invalid or unconstitutional was not
26 originally a part of the resolution.
27 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are
28 inconsistent with the provisions of this resolution, are hereby repealed to the extent of such
29 inconsistency.
30 Section 4. This resolution shall be in full force and effect from and after its adoption.
31
32 ADOPTED: February 6, 2007
33
[PAGE 1 OF 21
Resolution
To authorize support for HomeTowne at Mabelvale Pike
1
2
3
4
5
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
ATTEST:
Nan 4 Wood, y Clerk
APPROVED AS TO LEGAL FORM:
Thomas M. Carpenter, City Att,6Yney
v
Resolution
To authorize support for HomeTowne at Mabelvale Pike
[PAGE 2 OF 21
APPROVED:
A'�
Mark Stodola, Mayor
Erma Hendrix, Director (Ward 1)