HomeMy WebLinkAbout131351 RESOLUTION NO. 13,135
2
3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER OF
4 SUPPORT TO THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY
5 FOR THE CONSTRUCTION OF SENIOR TAX CREDIT APARTMENTS AT
6 THE GOOD SHEPHERD CAMPUS ON ALDERSGATE ROAD, IN THE CITY
7 OF LITTLE ROCK, ARKANSAS; AND FOR OTHER PURPOSES.
8
9 WHEREAS, a proposed project has been submitted for the construction of one hundred four (104)
10 senior tax credit apartments at the Good Shepherd campus on Aldersgate Road and has been reviewed in
11 accordance with the City's process, and
12 WHEREAS, the project is to be financed through tax - exempt bonds issued by the Arkansas
13 Development Finance Authority, which has requested a letter of support from the Mayor before the
14 project can be approved for tax- exempt bond financing with tax credits.
15 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
16 OF LITTLE ROCK, ARKANSAS:
17 Section 1. The Board of Directors hereby authorizes the Mayor to issue a letter of support for the
18 construction of one hundred four (104) senior tax credit apartments at the Good Shepherd campus on
19 Aldersgate Road through tax - exempt bonds issued by the Arkansas Development Finance Authority.
20 Section 2. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
21 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
22 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
23 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
24 resolution.
25 Section 3. Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent
26 with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.
27 Section 4. This resolution shall be in full force and effect from and after its adoption.
28 ADOPTED: May 18, 2010
29 ATTES T: APPROVED:
30 `
31 jam+
32 n a gl y, ity erk Mark Stodola, Mayor
33 APPROV A O LEGAL FORM:
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36 Thomas M. Carpenter, City A to ney