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RESOLUTION NO. 12,823
A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER OF
SUPPORT TO THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY TO
DEVELOP THIRTY -FOUR (34) UNITS OF AFFORDABLE, SINGLE - FAMILY
RENTAL PROPERTY IN THE APPLE BLOSSOM SUBDIVISION, IN THE CITY
OF LITTLE ROCK, ARKANSAS; AND FOR OTHER PURPOSES.
WHEREAS, a proposed project has been submitted for the development of thirty -four
(34) units of affordable, single- family rental property in the Apple Blossom Subdivision, at
Apple Avenue and Apple Blossom Cove, and has been reviewed in accordance with the City's
process, and
WHEREAS, the project is to be financed through tax - exempt bonds issued by the
Arkansas Development Finance Authority, which has requested a letter of support from the
Mayor before the project can be approved for tax - exempt bond financing with tax credits.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS:
Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter of
support for the development of thirty-four (34) units of affordable, single- family rental
property in the Apple Blossom Subdivision, through tax - exempt bonds issued by the Arkansas
Development Finance Authority.
Section 2. Severability. in the event any title, section, paragraph, item, sentence,
clause, phrase, or word of this resolution is declared or adjudged to be invalid or
unconstitutional, such declaration or adjudication shall not affect the remaining portions of the
resolution which shall remain in full force and effect as if the portion so declared or adjudged
invalid or unconstitutional were not originally a part of the resolution.
Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are
inconsistent with the provisions of this resolution, are hereby repealed to the extent of such
inconsistency.
Section 4. This resolution shall be in full force and effect from and after its adoption.
ADOPTED: January 20, 2009
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APPROVED AS TO LEGAL FORM:
Thomas M. Carpente , City torney
Resolution
To authorize support for Apple Blossom Subdivision
APPROVED:
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Genq Fortson1l, Vice Mayor
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