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2 RESOLUTION NO. 9,258
3 A RESOLUTION AUTHORIZING THE CITY
4 MANAGER TO ENTER INTO AN AGREEMENT
5 WITH JONES BROTHERS BUILDERS, INC.
6 TO CONSTRUCT, MARKET, AND SELL 19
AFFORDABLE HOMES IN THE PINE HILLS
SUBDIVISION; AUTHORIZING THE MAYOR
8 AND CITY CLERK TO CONVEY THE 19 LOTS
9 TO JONES BROTHERS BUILDERS, INC.;
10 AND FOR OTHER PURPOSES.
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WHEREAS, Pine Hills subdivision is located in the John
12 Barrow neighborhood, East of Walker Street between 24th and 26th
13 Streets; and
14 WHEREAS, CDBG and the Housing Division of the Department of
15 Neighborhoods and Planning acquired the partially developed Pine
16 Hills Subdivision with CDBG funds allocated by Board amendment
to the 1992 program; and
17 WHEREAS, fiscal year 1993 funds were allocated to prepare
18 the site for development which required infrastructure, street,
19 drainage, and utility improvements with the City investing
20 approximately $119,000 in the subdivision; and
21 WHEREAS, the CDBG office requested qualifications from
builders and developers to undertake new construction of
22 nineteen (19) affordable homes in the Pine Hills Subdivision in
23 May, 1994; and
24 WHEREAS, Jones Brothers has agreed to accomplish the
25 construction, marketing, and sale of the houses according to an
agreement executed between Jones Brothers and the City; and
26 WHEREAS, the plan calls for the City to convey each lot to
27 Jones Brothers at no cost upon lender approval of an application
28 from Jones Brothers to finance construction; and
29 WHEREAS, Pine Hills Subdivision will increase the supply of
30 affordable housing for low income families with fifty -one
percent (51%) of the houses being sold to and occupied by low
31 income persons at all times during the development of the
32 subdivision; and
33 WHEREAS, the CDBG office plans to make available a total of
34 $225,000 in HOME Program funds to provide financial assistance
35 to low income persons who wish to purchase homes in Pine Hills
Subdivision.
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NOW, THEREFORE, BE IT RESOLVED BY T BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS:
SECTION 1. The City Manager is hereby authorized to enter
into an agreement with Jones Brothers Builders, Inc. to
construct, market and sell nineteen (19) affordable homes in the
Pine Hills Subdivision.
SECTION 2. The Mayor and City Clerk are authorized to
convey the nineteen (19) lots to Jones Brothers Builders, Inc.
according to the terms of the agreement drafted in accordance
with applicable CDBG and HOME program regulations.
ADOPTED: October 18, 1994
ATTEST:
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