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HomeMy WebLinkAbout2611 • • RESOLUTION NO. 2,611 A RESOLUTION APPROVING EXECUTION OF A COOPERATION AGREEMENT BETWEEN THE HOUSING AUTHORITY OF THE CITY OF LITTT,F ROCK, ARKANSAS, COVERING THE HIGH STREET URBAN RENEWAL PROJECT, ARK. R-6; AND FOR OTHER PURPOSES. WHEREAS, it is necessary and in the public interest that the Housing Authority of the City of Little Rock, Arkansas avail itself of the financial assistance provided under Title I of the National Housing Act of 1949, as amended and supplemented, and as authorized by Act 212 of the Acts of the General Assembly of Arkansas for the year 1945, as amended by Act 189 of 1957 and Act 119 of 1959, in order to consummate essential Urban Renewal Projects within the City of Little Rock, Arkansas; and WHEREAS, in furtherance thereof, the Housing Authority of the City of Little Rock, Arkansas on the 1st day of December 1958 entered into a Contract for Advance with the Urban Renewal Administration of the Housing and Home Finance Agency of the United States of America for the undertaking of certain studies and the preparation of an Urban Renewal Plan in connection with the renewal and redevelopment of the High Street Area Project, ARK. R-6, which area is bounded generally by the alley between West 7th and West 8th Streets on the north, by Gaines Street on the east, by Wright Avenue on the south, and by Bishop Street on the west, hereinafter referred to as Project; and WHEREAS, such studies have been completed and an Urban Renewal Plan, hereinafter referred to as the Plan, has been pre- pared for such Project Area and has been duly approved by the Board of Commissioners of said Authority, by the Little Rock Planning Commission, and by this body; and WHEREAS, in furtherance of the execution of said Plan it appears necessary and in the public interest that the City of Page 2 Little Rock, Arkansas cooperate with said Authority in the manner as set forth in document attached hereto and made a part hereof and denominated as follows : "Cooperation Agreement by and between the Housing Authority of the City of Little Rock, Arkansas and City of Little Rock, Arkansas (Re : High Street Urban Renewal Project, Ark. R-6 )" ; NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the City of Little Rock, Arkansas : Section 1. That the Cooperation Agreement attached here- to as a part hereof be and it hereby is approved for and on behalf of the City of Little Rock, Arkansas . Section 2 . That the Mayor and City Clerk be and they hereby are authorized to execute for and on behalf of the City of Little Rock, Arkansas, the original and one counterpart of said Cooperation Agreement with the Housing Authority of the City of Little Rock, Arkansas, and to take such further actions as may be necessary to effectuate such agreement . Section 3. This Resolution shall be effective immediately. ADOPTED: November 21, 1960 APPROVED: 474,' ATTEST: Ci y Clerk COOPERATION AGREEMENT by and between THE HOUSING AUTHORITY OF THE CITY OF LITTLE ROCK, ARKANSAS and CITY OF LITTLE ROCK, ARKANSAS (Re: High Street Urban Renewal Project, ARK R-6) THIS AGREEMENT, entered into as of the 21st day of November 2 1960, by and between the Housing Authority of the City of Little Rock, Arkansas (hereinafter called the Authority), and the City of Little Rock, Arkansas (here- inafter called the City), WIT?ESSETH: WHEREAS, it is necessary and in the public interest that the Housing Authority of the City of Little Rock, Arkansas, avail itself of the financial assistance pro- vided under Title I of the National Housing Act of 1949, as amended and supplemented, and as authorized by Act 212 of the Acts of the General Assembly of Arkansas for the year 1945, as amended by Act 189 of 1957 and Act 119 of 1959, in order to consumate essential Urban Renewal Projects within the City of Little Rock, Arkansas; and WHEREAS, in furtherance thereof, the Housing Authority of the City of Little Rock, Arkansas on the 1st day of December , 1958 entered into a Contract for Advance with the Urban Renewal Administration of the Housing and Home Finance Agency of the United States of America for the undertaking of certain studies and the preparation of an Urban Renewal Plan in connection with the renewal and redevelopment of the High Street Area Project, ARK R-6, which area is bounded generally by the alley between West 7th and West 8th Streets on the north, by Gaines Street on the east, by Wright Avenue on the south, and by Bishop Street on the west, hereinafter referred to as Project; and WHEREAS, such studies have been completed and an Urban Renewal Plan, hereinafter referred to as the Plan, has been prepared for such Project Area; and WHEREAS, the Board of Commissioners of the Housing Authority of the City of Little Rock has formally approved such Urban Renewal Plan; and WHEREAS, the Little Rock Planning Commission has reviewed and approved said Urban Renewal Plan; and WHEREAS, the Urban Renewal Administration of the Housing and Home Finance Agency of the United States of America has reviewed said Plan and approved an application for Loan and Grant funds in connection with the carrying out of said Plan, subject to - 2 - final approval thereof by the Board of Directors of the City of Little Rock, Arkansas; and WHEREAS, the undertaking of said Project will involve gross project costs, federal, state, and local, in the amount of approximately $7,791,000, and net project costs of approximately $5,680,000; and WHEREAS, the Urban Renewal Administration of the Housing and Home Finance Agency of the United States of America will agree to pay an estimated $3,855,000 as its two-thirds share in cash of said net project costs; and WHEREAS, in payment of the City's share of the difference between said net project costs and said expenditure of federal funds or approximately $1,825,000, the City will receive credit for the provision of the following improvements to the extent that they serve the Project area: (Amounts are Approximate) State of Arkansas, Eighth Street Expressway $ 252,495.00 Little Rock Special School District, Elementary School 256,554.00 City of Little Rock: Traffic Controls, Street Markers and Civil Defense Warning System 24,606.00 Street Reconstruction 17,858.00 Right-of-Way for Eighth Street Expressway 432,074.00 Playground Equipment (on site to be dedicated by Authority): City's Share $999.00 Little Rock Special School District's 756.00 1,755.00 TOTAL $ 985,342.00 WHEREAS, the Authority and the City are desirous of reducing to writing this statement of the intentions and undertakings of each in connection with the consummation of said High Street Urban Renewal Project, ARK R-6; NOW, THEREFORE, in consideration of the recitals hereof and of the mutual promises and covenants herein set forth, the parties hereby agree as follows: 1. The City agrees: (a) To furnish certification covering the construction and installation at its own cost of traffic controls (signs and lights), street name markers, and payment of the City's share of the cost of a Civil Defense warning system, serving - 3 - the project area, including locations, dates of installations and costs thereof: (b) To furnish certification covering the construction and reconstruction, at its own cost, of city streets, viz., Ringo Street from West 7th Street to West 9th Street; Izard Street from West Markham to West 10th Street (810.5 feet within project area); Gaines Street from West Markham to West 10th Street (810.5 feet within project area); West 16th Street from Gaines Street to Pulaski Street (1,511 feet within project area); State Street from West 2nd Street to West 10th Street (810.5 feet within project area); Arch Street from West Markham to West 10th Street (810.5 feet withiproject area); Cross Street from West 6th to West 9th Street (483.5 feet within project area); West 14th Street from Arch Street to High Street. (c) To purchase from the Authority as necessary at its fair market value right-of-away within the boundaries of the project area for the EighthStreet Expressway and to provide same for use and reuse by the Arkansas State Highway Commission in development of said Eighth Street Expressway. (d) To provide as necessary the right-of-way for, and the cost of construction of, the Wright Avenue widening and relocation project which lies outside the project boundaries. (e) To accept dedication of by the Authority, and provide (in conjunction with the Little Rock Special School District) equipment for the proposed public playground adjoining the site of the proposed new elementary school to be constructed within the project area. (f) To provide as necessary through appropriation ordinances the sum of $839,658.00 in cash as the cash grant-in-aid portion of the City's one third (1/3) share of the net project costs. 2. The City hereby recognizes its obligation to share in the net costs of the project to the extent of not to exceed one-third (1/3) thereof, and this Cooperation Agreement constitutes its commitment so to do. 3. The Authority agrees to undertake and carry out, upon the final approval of said Urban Renewal Plan and execution of said Loan and Grant Contract, the following, all as provided for in said Plan: (a) Acquisition of land to be used as right-of-way within the project area for the Eighth Street Expressway, including all improvements situated thereon, at an estimated cost to the Authority of $1,682,000. - 4 - (b) Relocation of all residents who occupy lands embraced within said right-of-way. (c) The removal, demolition and clearance of all structures from said right-of-way lands. (d) The disposition of said lands to the City at their fair market value. (e) In addition, the Authority shall do all things and take all actions necessary- and appropriate to insure complete and final execution of said Plan. 4. This Cooperation Agreement shall be terminated if at any time the Urban Renewal Administration of the Housing and Home Finance Administration of the United States of America determines that the proposed project, and any plan or plans for its redevelopment, rehabilitation and/or renewal, are not acceptable, and/or that the project, or the project area, is not eligible for federal financial assistance under the provisions of the National Housing Act of 1949, as amended. IN WITNESS WHERECF, the Authority and the City have caused this Cooperation Agreement to be executed by their duly authorized officers as of the day and year first above written. ATTEST: THE HOUSING AU WRITY OF TIE CITY OF LITTLE RCCK, ARKANSAS i/ BY A( ialdiukt Dowell Naylor, . Sec tary •o.er or-Jo son, . irman ATTEST: CITY OF LITTLE RCCK, ARKANSAS 4il _ 1- �� By ty er Mayor montmoirs or RECaRD1'NQ QF FXCIIR The undersigned hereby mss, so follows (1) That he is the duly qoalifiod and acting growth* * Pt/voter of the ,: Aut x rite et the City of Little Reek. micsamsso soil Abe Vier of its rao©:daj iM1%*t g the journal of praessdlo ibe word of Qeroa1onew of the Pausing Authority of s Cftd of Little Rock. (2) That the at'hrd is a tow aid woroot conformed eery of lin otopurotion agreement ammeelled they 21st day of fir, 19(0, Mel SNly tiled in his aff'ia j (3) That the tladereg jjaed is duly suilostosd is sooeute this certificate. titTNESS viMSREOF the ladowipsod hue hs ssuM set his bend this 25th day of Nowebori 19&). /I (S�'AL) _ �' `� (' r 0