HomeMy WebLinkAbout103821
2
3
4
5
6
7
8
9
10
it
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
RESOLUTION NO. 10 , 382
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO ENTER INTO AN AGREEMENT WITH WOODRUFF
COMMUNITY DEVELOPMENT CORPORATION (CDC)
TO PROVIDE $59,850 IN HOME INVESTMENT
PARTNERSHIP PROGRAM FUNDS FOR ACQUISITION,
REHABILITATION AND SUBSEQUENT SALE OF THE
STRUCTURE AT 611 MAPLE STREET TO A LOW
INCOME FIRST TIME HOME BUYER.
496
WHEREAS, the proposal is consistent with the City's Consolidated Plan, which was
developed with extensive citizen participation, and identified the provision of standard,
affordable housing to low income persons as a high priority; and
WHEREAS, the project calls for acquisition and rehabilitation of One(1) structure
located at 611 Maple Street; and
WHEREAS, the house will be affirmatively marketed to a low income fist time home
buyer; and
WHEREAS, a subsidy will be available to the prospective low income purchaser, if
required, to ensure the affordability of the housing.
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 with
Woodruff Community Development Corporation in the amount of $59,850 for acquisition,
rehabilitation, and subsequent sale of a structure located at 611 Maple Street.
• • 497
1 SECTION 2. Funding for this project is available from the HOME Investment
2 Partnership Program.
3 SECTION 3. This resolution shall be in full force and effect from and after its
4 adoption.
5
6
7
8 Adopted: October 20, 1998
9
10
11 Attest: Approved:
12
13
14
15 Robbie Hancock, City Clerk Jim alley, Mayor
16
17
18
19
20 Approved as to Legal Form:
21
22
23
24^-� M
25 Thomas M. Carpenter, CifyJAttorney
26
27
28
29
30
31
32
33
34
35
36