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HomeMy WebLinkAbout2432 RESOLUTION NO 2432 RESOLUTION REQUESTING RESERVATION OF CAPITAL GRANT FUNDS, APPROVING UNDERTAKING OF SURVEYS AND PLANS FOR AN URBAN RENEWAL PROJECT, AND APPROVING FILING OF AN APPLICATION BY THE HOUSING AUTHORITY OF THE CITY OF LITTLE ROCK, ARKANSAS, FOR FEDERAL ADVANCE OF FINDS FOR THE CENTRAL LITTLE ROCK URBAN RENEWAL AREA. WHEREAS, under Title I of the Housing Act of 1949, as amended by the Housing Act of 1959, the Housing and Home Finance Adminis- trator is authorized to extend financial assistance to localities in the elimination and prevention of the spread of their slums and urban blight through the planning and undertaking of urban renewal projects; and WHEREAS, it is necessary for the proper development and re- development of this community that the conditions of slum and urban blight and the effects of deterioration be eliminated in that certain area, not predominantly residential in character, hereinafter de- scribed as the Central Little Rock Urban Renewal Area, located in the City of Little Rock, Pulaski County, Arkansas; and WHEREAS, it is further necessary in the proper development and redevelopment of this community that said area be redeveloped for predominantly non-residential uses; and WHEREAS, it is desirable and in the public interest that the Housing Authority of the City of Little Rock prepare surveys and plans, presently estimated to cost approximately three hundred fifty- nine thousand three hundred and forty-nine dollars, ($359,349), in order to undertake and carry out an urban renewal project of the character contemplated by Section 110 (c ) of said Housing Act, as amended, in said area, proposed as an Urban Renewal area, situated in the City of Little Rock, County of Pulaski, and State of Arkansas, and described as follows : Generally bounded by the Arkansas River on the north; the Third Bridge and Freeway on the east; Fifteenth Street on the south; and Broadway on the west. WHEREAS, the above-cited Federal law requires as a condition to - 2 - the execution of a contract for a loan and capital grant for an urban renewal project that the locality present to the Housing and Home Finance Administrator a workable program, as set forth in Section 101 (c ) of said Title I, for utilizing appropriate public and private resources to eliminate and prevent the development or spread of slums and urban blight, to encourage needed urban re- habilitation, to provide for the redevelopment of blighted, deteri- orated, or slum areas, or to undertake such other feasible community activities as may be suitably employed to achieve the objectives of such a program; and WHEREAS, it is recognized that contracts for loans and capital grants for urban renewal projects will require, among other things, (1 ) the approval of the urban renewal plan by the governing body of the locality in which the project is situated; (2 ) the provision of local grants-in-aid which may consist of donations of cash, land, demolition or removal work, and the installation, construction, or reconstruction of streets, utilities, parks, playgrounds, or other improvements, or the provision of other public building or facili- ties; and (3 ) the development of a feasible method for the relo- cation of families displaced from the urban renewal area. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTT,F ROCK, ARKANSAS: Section 1. That the proposed Central Little Rock Urban Renewal Area described above is predominantly non-residential in nature, is a slum, blighted, deteriorated, or deteriorating area appropriate for an urban renewal project and that it is further necessary in the proper development and redevelopment of this community that said area be redeveloped for predominantly non-residential uses; and that the undertaking by the Housing Authority of the City of Little Rock of surveys and plans for an urban renewal project of the character contemplated by Section 110 (c ) of the Housing Act of • - 3 - 1949, as amended and supplemented, in the proposed Urban Renewal Area described above, is hereby approved. Section 2. That the financial assistance provided under said Title I to assist urban renewal projects is needed and that the Housing and Home Finance Administrator is hereby requested to reserve for an urban renewal project in the proposed Urban Renewal Area described above Federal capital grant funds in an amount sufficient tc enable the Housing Authority of the City of Little Rock to finance the undertaking of the Project . Section 3. That it is cognizant of the conditions that are imposed in the undertaking and carrying out of urban renewal projects with Federal financial assistance under Title I, includ- ing the requirements of said Title I respecting the workable program mentioned above, and that it is the sense of this body (a ) that a feasible method for the relocation of families displaced from the urban renewal area, in conformity with said Title I, can be prepared, and (b) that local grants-in-aid, consisting of donations of cash, land, demolition or removal work, and the instal- lation, construction, or reconstruction of streets, utilities, parks, playgrounds, or other improvements, or the provision of other public buildings or facilities, necessary for carrying out in the Urban Renewal Area the urban renewal objectives of said Title I in accordance with the urban renewal plan, can and will be provided in an amount which will not be less than one-third of the net project cost and which, together with the Federal capital grant, will be generally equal to the difference between gross project costs and the proceeds or value cf project land sold, leased, or retained for use in accordance with the urban renewal plan. Section 4. That the filing of an application by the Housing Authority of the City of Little Rock for an Advance cf funds from the United States of America in an amount not to exceed $359,349 - 4 - for surveys and plans for an urban renewal project in the urban renewal area described abcve is hereby approved . PASSED: October 19, 1959 ATTEST: A PPRQVED: %./; i/f City Clerk Asst. - •