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RESOLUTION NO. 13,515
A RESOLUTION TO AUTHORIZE THE MAYOR TO ISSUE A LETTER
OF SUPPORT TO THE ARKANSAS DEVELOPMENT FINANCE
AUTHORITY FOR FINANCE ADJUSTMENT FACTOR FUNDS TO BE
USED FOR FULL REHABILITATION OR RECONSTUCTION OF
SIXTEEN (16) RENTAL UNITS, IN THE CITY OF LITTLE ROCK,
ARKANSAS; AND FOR OTHER PURPOSES.
WHEREAS, a proposed project has been submitted for full rehabilitation and/or reconstruction of
sixteen (16) rental units in the Central High, Wright Avenue, Love and Stephens neighborhoods; and
WHEREAS, the project is to be financed with Finance Adjustment Factor Funds through the
Arkansas Development Finance Authority, which has requested a letter of support from the Mayor before
the project can be approved for financing with these funds which are intended to be used to fill gaps in a
development budget to ensure properties remain affordable for low income residents;
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 a
proposed project which has been submitted for full rehabilitation and/or reconstruction of sixteen (16)
rental properties in the Central High, Wright Avenue, Love and Stephens neighborhoods, to be funded
with Finance Adjustment Factor Funds through 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with the provisions of this resolution, are hereby repealed to the extent of such inconsistency.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: June 19, 2012
ATTEST:
Toya RVinson, Assista t ity Clerk
APPROVED:
Mark Stodola,
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1 APPROVED AS TO LEGAL FORM:
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4 Thomas M. Carpenter, ity Attorney
5 H
6 H
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8 H
9 H
10 H
11 H
12 H
13 H
14 H
15 H
16 H
17 H
18 H
19 H
20 H
21 H
22 U
23 H
24 H
25 H
26 H
27 H
28 H
29 H
30 H
31 H
32 H
33 H
34 H
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