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I
D
651
RESOLUTION NO. 9.560
A RESOLUTION AUTHORIZING THE CITY
MANAGER TO ENTER INTO AN AGREEMENT
TO PROVIDE $52,000 IN HOME FONDS TO
WOODRUFF COMMUNITY DEVELOPMENT
CORPORATION FOR ACQUISITION OF THE
LOT AT 2501 WEST 6TH STREET, HOUSE
RELOCATION, REHABILITATION, AND
SUBSEQUENT SALE OF THE STRUCTURE TO
A LOW- INCOME FIRST TIME HOME BUYER.
WHEREAS, this is Woodruff CDC's second project which
demonstrates continued community based efforts to stimulate
reinvestment in the area; and
WHEREAS, the project calls for acquiring a lot at 2501 West
6th Street and moving a house, currently located at 2314
Beechwood, to the lot, rehabilitating the structure,
affirmatively marketing the house and subsequent selling it to a
low- income first time home buyer; and
WHEREAS, the project has been reviewed and recommended for
funding by the Project Review Committee; and
WHEREAS, any program income generated by the project will
be repaid to the City's HOME Investment Trust Fund Account.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS;
SECTION 1. The City Manager is authorized to enter into an
agreement to provide $52,000 in HOME funds to Woodruff Community
Development Corporation for acquisition of the lot at 2501 West
6th Street, house relocation, rehabilitation, and subsequent
sale of the structure to a low income first time home buyer.
SECTION 2. Funding in the amount of $52,000 is available
from the HOME Program.
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• 652
ADOPTED: December 5, 1995
A
I I i�
,Tel
• ED AS TO •
TEDIUM M. CAXPYSNTI,iK
ATTORNEY CITY
APPROVED: