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3 ORDINANCE NO. 16,932
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5 AN ORDINANCE AUTHORIZING THE CITY
6 MANAGER TO ENTER INTO AN AGREEMENT
7 WITH COLLEGE STATION COMMUNITY
8 DEVELOPMENT CORPORATION ( CSCDC) FOR
9 THE DEVELOPMENT OF °APPLE BLOSSOM
10 SUBDIVISION °.
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12 WHEREAS, CSCDC applied for funding from the CDBG FY 1995
13 entitlement; and
14 WHEREAS, the project was not recommended by the Citizen
15 Participation Consolidated Planning Committee because of some
16 unresolved planning issues and the heavy drain on available
17 community development and housing resources; and
18 WHEREAS, the recommended grant would relieve the drain on
19 CDBG and HOME Program funds and the recommended conditions would
20 assure resolution of proximate planning issues; and
21 WHEREAS, CSCDC shall be solely responsible, as developer,
22 for effecting design engineering and construction of the
23 facilities under normal subdivision requirements and shall
24 dedicate them to the City, Little Rock Wastewater Utility, or
25 Little Rock Municipal Water works, as appropriate, upon
26 completion; and
27 WHEREAS, CSCDC shall advertise for and obtain sealed bids
28 for construction of the streets required for Phase I, and shall
29 not allow construction to begin on any facilities until it has
30 obtained legally binding commitment of all funds necessary; and
31 WHEREAS, CSCDC shall not allow infrastructure to begin
32 until a commitment of all loans or other financing necessary for
33 construction of the first two dwelling units has been obtained
34 and CSCDC has met any conditions stipulated in the commitments.
35 NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF
36 THE CITY OF LITTLE ROCK, ARKANSAS:
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SECTION 1. The City Manager is hereby authorized to enter
into an Agreement with College Station Community Development
Corporation (CSCDC) and, subject to the conditions set forth in
the preamble hereof, to award a grant of $117,627 from the NAT &T
surplusff funds to help finance construction of streets and
installation of water and sewer facilities for Phase I of Apple
Blossom Subdivision, five new single - family homes toward a
planned 58 units in the subdivision.
SECTION 2. Funds are available in the Board's allocation of
$1,059,531 for residential street improvements from the surplus.
PASSED: July 5, 1995
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