HomeMy WebLinkAbout132601 RESOLUTION NO. 13,260
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3 A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER OF
4 SUPPORT TO THE ARKANSAS DEVELOPMENT FINANCE AUTHORITY
5 FOR REHABILITATION OF PLAZA TOWERS AT 6115 WEST MARKHAM
6 STREET, IN THE CITY OF LITTLE ROCK, ARKANSAS; AND FOR OTHER
7 PURPOSES.
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9 WHEREAS, a proposed project has been submitted for the full rehabilitation of thel32 -unit Plaza
10 Towers apartment complex at 6115 West Markham Street and has been reviewed in accordance with the
11 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 full
18 rehabilitation of the 132 -unit Plaza Towers apartment complex at 6115 West Markham Street, through
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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with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.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 18, 2011
ATTEST:
C)AV_,_
usan n ey, City Clerk
RESOLUTION
To authorize letter of support for tax credits for
Rehabilitation of Plaza Towers
APPROVED:
/d,z 4,-'el, -
6
Mark Stodola, Mayor
[PAGE I OF 2]
1 APPROVED AS TO LEGAL FORM:
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4 Thomas M. Carpenter, Ci ttorney
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RESOLUTION [PAGE 2 OF 2]
To authorize letter of support for tax credits for
Rehabilitation of Plaza Towers