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Home My WebLink About2003-05-20 - Agendas - Final FINAL AGENDA FOR CITY COUNCIL MEETING MAY 209 2003 A meeting of the Fayetteville City Council will be held on May 20, 2003 at 6:00 p.m. in Room 219 of the City Administration Building located at 113 West Mountain Street, Fayetteville, Arkansas. A. CONSENT: 1 . Approval Of The Minutes: Approval of the May 6, 2003 meeting minutes and approval of the January 7, 2003 meeting minutes. 2. Arkansas Forestry Commission Grant: A resolution authorizing the Fayetteville Parks and Recreation Division to apply for an Urban Forestry Assistance Grant in the amount of $20,000.00 through the Arkansas Forestry Commission. 3. Citizen's Survey: A resolution approving a proposal from the Survey Research Center (SCR) at the University of Arkansas in the amount of $23,639.64 with a not- to-exceed cost of $25,000.00 for the development and implementation of a Citizen Survey. 4. Fayetteville Public Library as City Library: A resolution establishing the Fayetteville Public Library as an independent Municipal Library; and ending the Interlocal Agreement for a joint City/County Library system with Washington County, Arkansas. 5. Fayetteville Public Facilities Board: A resolution ratifying the resolution of the Fayetteville Public Facilities Board authorizing the issuance of Fayetteville Public Facilities Board Multifamily Housing Revenue Bonds (Grandview Apartments Project), Series 2003 in a principal amount not to exceed $3,700,000. 6. Mobile Vision: A resolution awarding Bid #03-34 to Mobile Vision, Inc. in the amount of 66,884.00 for the purchase of 17 in-car video systems, and the upgrade of the 144X zoom camera. 7. Carter Burgess Architects/Engineers, Inc.: A resolution approving a contract with Carter Burgess Architects/Engineers, Inc. in the amount of $42,536.00 for design and engineering services associated with the Lake Fayetteville spillway pedestrian bridge project; and approving a ten percent project contingency. B. OLD BUSINESS: 1 . RZN 03-14.00 (Williams): An ordinance rezoning that property described in rezoning petition RZN 03- 14.00 as submitted by James Williams for property located at the northeast comer of Mt. Comfort Road and Shiloh Drive, Fayetteville, Arkansas from R-2, Medium Density Residential and A- 1 , Agricultural to C- 1 , Neighborhood Commercial. This ordinance was left on the first reading at the May 6, 2003 City Council meeting. 2. WHM Land Investments, Inc. Condemnation: A resolution authorizing the City Attorney to seek condemnation and possession of certain lands owned by WHM Land Investment, Inc. to secure the necessary land on which to construct the West Fayetteville Fire Station. This resolution was tabled at the May 6, 2003 City Council meeting. 3. Unified Development Code: An ordinance repealing Title XV, Unified Development Ordinance (originally adopted by Ordinance 4100 on June 16, 1998) of the Code of Fayetteville and adopting and enacting an amended Title XV Unified Development Code. This ordinance was left on thefirst reading at the May 6, 2003 City Council meeting. C. NEW BUSINESS: 1 . C-PZD 03-2.00 (Lowe's Home Center): An ordinance establishing a Commercial Planned Zoning District titled C-PZD 03-2.00 located at the southwest comer of Finger Road and Highway 62; amending the official zoning map of the City of Fayetteville; and according to the Associated Development Project as approved by the Planning Commission. 2. VAC 03-7.00 (Bencor): An ordinance approving VAC 03-7.00 to vacate and abandon a drainage easement located on property at the northeast comer of Sixth Street and South School Avenue as depicted on the attached map and legal description. 3. VAC 03-5.00 (Wallace): An ordinance approving VAC 03-8.00 to vacate and abandon a drainage easement located on property at the Lot 98 of Covington Park as depicted on the attached map and legal description. 4. OMI Contract: A resolution approving amendment No. 9 to the OMI contract providing for a net increase in fiscal 2003 of $36,209.00 to purchase equipment and perforin services implementing a modified sludge disposal plan for the last 6 months of 2003 . No budget adjustment is requested. 5. OMI Hamestring Lift Station: A resolution to approve an out-of-scope amendment with Operations Management International, Inc. in the amount of $250,000.00 to upgrade the Hamestring Sewer Lift Station. No budget adjustment is requested. 6. Hotel & Restaurant Bonds (Series 2003): An ordinance authorizing the issuance and sale of not to exceed $6,620,000 of Hotel and Restaurant Gross Receipts Tax Refunding Bonds, Series 2003, by the City of Fayetteville, Arkansas for the purpose of refunding the City's outstanding hotel and restaurant gross receipts tax bonds, Series 1998; authorizing the execution and delivery of a trust indenture pursuant to which the Series 2003 Bonds will be issued and secured; authorizing the execution and delivery of an official statement pursuant to which the Series 2003 bonds will be offered; authorizing the execution and delivery of a bond purchase agreement providing for the sale of the Series 2003 Bonds; authorizing the execution and delivery of an escrow deposit agreement providing for the redemption of the Series 1998 bonds; authorizing the execution and delivery of a continuing disclosure agreement; and prescribing other matters relating thereto. D. INFORMATIONAL: 1 . Council Tour: May 19, 2003 2. Item # 3 Old Business: Unified Development Code: Three copies of the proposed Unified Development Code, Title XV of the Code of Fayetteville are filed in the office of the City Clerk and are available for the public to inspect and view. 3. Item # 6 New Business: Hotel & Restaurant Bonds (Series 2003): The Preliminary Official Statement, Trust Indenture, Bond Purchase Agreement, Escrow Deposit Agreement, and Continuing Disclosure Agreement documents that are related to this Agenda Item are available for review in the City Clerk's Office. pg Meeting of May 20, 2003 Subject: Motion By: Seconded: Motion To: Cook Marr Rhoads Davis Lucas 016 &tCw Jordan Reynolds Thiel Mayor Coody Subject: l UhA An * P " AL SWC JaCi1;�; en r) rLA4 s . Motion By: Seconded: Motion To: ha) i5 Cook Marr Rhoads Davis Lucas Jordan Reynolds Thiel Mayor Coody • • ��i, /Yl� eG/1� Meeting of May 20, 2003 Subject: 1 i e Mem Motion By: U -� Seconded: Motion To: ' Cook i/ 7 Marr w75 3 Rhoads Davis Lucas Jordan Reynolds Thiel Mayor Coody Subject: RECO �au�A G.ei�a A — %2 Z /1� ® 3 - I q .Oct I/,IOka- a, m. Motion By: a Cak1:n Seconded: )u ad; Motion To: Gtdo -- ArovAO Cook n Marr Cork.P�'- Rhoads C w I Davis dxCdxd Lucas Jordan Reynolds Thiel Mayor Coody Meeting of May 20, 2003 Subject: � c� U�to �ntq� WNm Motion By: Seconded: DAO i-3 Motion To: a ° �k-L Cook / Marr ✓ Rhoads Davis V Lucas Jordan Reynolds Thiel Mayor Coody Subject: Motion By: Seconded: n � - Motion To: p�sl^aC� Cook Marr �Q(3� iv� Rhoads 4.z LoL)'`b Davis Lucas Jordan Reynolds ra Thiel ap 4 ��' ~j, Mayor Coody Meeting of May 20, 2003 QQ Subject: /U �Jccd i C Pz Motion By7 Seconded: Q^' Motion To: ' MCIn k /ll;/li5 Cook a n Marr �k Rhoads )y OJ Davis I Lucas � 5 Jordan Reynolds c�aeoacT.o Thiel /n� cGC Mayor Coody /4u�aw- Subject: -# A/" C 0 3 - 7 D 0 C�`"c m" J /&C.L M %ils Motion By: (7a6J 1 ;,s Seconded: g Motion To: p� h 0 3► _ p ^'�'� Cook ✓ � ! i(9✓° " Marr �✓ i/ ,/ Rhoads Davis ✓ ,/ ✓ n� Lucas �l Jordan ✓ r/ �✓ Reynolds q� `O Thiel ✓ �/ ,/ Mayor Coody Meeting of May 20, 2003 p Subject: N,� lnQAa UAC 03 - F, o o C( ( �t.da ce, Motion By: Seconded: LtmkAA Motion To: Cook �/ ✓ t� / �/ Q Marr ,/ ✓ ✓ Rhoads ✓ ,✓ Davis �/ ✓ i/ Lucas lY/ I Jordan ,✓ �/ Reynolds _ l I Thiel Mayor Coody +� Subject: 4 y /V Qw i to c,+ I GM Motion By: Gw i S Seconded: Motion To: Cook ^ Marr Rhoads Davis Lucas Jordan r - 3 Reynolds �Q Thiel Mayor Coody —Meeting of May 20, 2003.1 Subject: 5 1 \R u) i tiQ/�.4- n�Z �' QMnA 5�1Li N,� � cS a( ip, Motion By: Seconded: Motion To: Cook Marr ✓ Rhoads Davis ✓ t�, Lucas Jordan Reynolds �0 Thiel Mayor Coody Subject: (0 A)X u) N"G lu.t �UU3 Motion By: +� Seconded: ondaw &As Ram Motion To: ot 'r_ n � � � ) 7� Cook 6 1oVe Marr ✓ ✓ ✓ Rhoads ✓ �✓ ,✓ Davis ✓ ,/ ✓ ' Lucas s a N Jordan ✓ �/ aJ Reynolds ✓ ,/ V^'' Thiel ✓ Mayor Coody CITY COUNCIL MEETING REGISTRATION Ma 20, 2003 SPEAKER'S NAME PHONE NO. AGENDA ITEM NO. Please print clearly) SPEAKING ON 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 FINAL AGENDA FOR CITY COUNCIL MEETING MAY 209 2003 A meeting of the Fayetteville City Council will be held on May 20, 2003 at 6:00 p.m . in Room 219 of the City Administration Building located at 113 West Mountain Street, Fayetteville, Arkansas. C �� A. CONSENT: `tUYl.�✓ [ J h P/tm d2 �L u 1 . Approval Of The Minutes: Approval of the May 6, 2003 meeting minutes and, approval of the January 7, 2003 meeting minutes. 2. Arkansas Forestry Commission Grant: A resolution authorizing the Fayetteville Parks and Recreation Division to apply for an Urban Forestry Assistance Grant in the amount of $20,000.00 through the Arkansas Forestry Commission. • / � b� 3. Citizen's Survey: A resolution approving a proposal from the Survey Research Center (SCR) at the University of Arkansas in the amount of S23 ,639.64 with a not- to-exceed cost of $25,000.00 for the development and implementation of a Citizen Survey. 4. Fayetteville Public Library as City Library: A resolution establishing the Fayetteville Public Library as an independent Municipal Library; and ending the 7a - 63 Interlocal Agreement for a joint City/County Library system with Washington County, Arkansas. Fayetteville Public Facilities Board : A resolution ratifying the resolution of the Fayetteville Public Facilities Board authorizing the issuance of Fayetteville Public Facilities Board Multifamily Housing Revenue Bonds (Grandview Apartments Project), Series 2003 in a principal amount not to exceed 53,700,000. 6. Mobile Vision : A resolution awarding Bid #03-34 to Mobile Vision, Inc. in the /✓ 6� amount of 66,884.00 for the purchase of 17 in-car video systems, and the upgrade of T6 144X zoom camera. 7. Carter Burgess Architects/Engineers, Inc. : A resolution approving a contract with �/ Carter Burgess Architects/Engineers, Inc. in the amount of S42,536.00 for design and �7 -03 engineering services associated with the Lake Fayetteville spillway pedestrian bridge project; and approving a ten percent project contingency. r� I G, 1 • B. OLD BUSINESS : 1 . RZN 03-14.00 (Williams): An ordinance rezoning that property described in rezoning petition RZN 03- 14.00 as submitted by James Williams for property located at the northeast corner of Mt. Comfort Road and Shiloh Drive, Fayetteville, Arkansas / from R-2, Medium Density Residential and A- 1 , Agricultural to C- 1 , Neighborhood 2e1 Commercial. This ordinance was left on die first reading at the May 6, 2003 City Council meeting. 2. WHM Land Investments, Inc. Condemnation : A resolution authorizing the City Attorney to seek condemnation and possession of certain lands owned by WHM Land Investment, Inc. to secure the necessary land on which to construct the West Fayetteville Fire Station. This resolution was tabled at the May 6, 2003 City Council greeting. 3. Unified Development Code: An ordinance repealing Title XV, Unified Development Ordinance (originally adopted by Ordinance 4100 on June 16, 1998) of V the Code of Fayetteville and adopting and enacting an amended Title XV Unified Development Code. This ordinance was left on the first reading at the May 6, 2003 �i City Council meeting. C. NEW BUSINESS: • 1 . C-PZD 03-2.00 (Lowe's Home Center): An ordinance establishing a Commercial Planned Zoning District titled C-PZD 03-2 .00 located at the southwest comer of Finger Road and Highway 62 ; amending the official zoning map of the City of Fayetteville; and according to the Associated Development Project as approved by the Planning Commission. 2. VAC 03-7.00 (Bencor) : An ordinance approving VAC 03-7.00 to vacate and pp abandon a drainage easement located on property at the northeast comer of Sixth Street and South School Avenue as depicted on the attached map and legal description. 3. VAC 03-8.00 (Wallace): An ordinance approving VAC 03-8.00 to vacate and abandon a drainage easement located on property at the Lot 98 of Covington Park as T 7 depicted on the attached map and legal description. 4. OMI Contract: A resolution approving amendment No. 9 to the OMI contract providing for a net increase in fiscal 2003 of $36,209.00 to purchase equipment and perform services implementing a modified sludge disposal plan for the last 6 months of 2003 . No budget adjustment is requested. 5. OMI Hamestring Lift Station : A resolution to approve an out-of-scope amendment with Operations Management International, Inc. in the amount of $250,000.00 to • ( / upgrade the Hamestring Sewer Lift Station. No budget adjustment is requested. Hotel & Restaurant Bonds (Series 2003): An ordinance authorizing the issuance and sale of not to exceed $6,620,000 of Hotel and Restaurant Gross Receipts Tax Refunding Bonds, Series 2003, by the City of Fayetteville, Arkansas for the purpose of refunding the City' s outstanding hotel and restaurant gross receipts tax bonds, Series 1998; authorizing the execution and delivery of a trust indenture pursuant to which the Series 2003 Bonds will be issued and secured; authorizing the execution and delivery of an official statement pursuant to which the Series 2003 bonds will be offered; authorizing the execution and delivery of a bond purchase agreement providing for the sale of the Series 2003 Bonds; authorizing the execution and delivery of an escrow deposit agreement providing for the redemption of the Series 1998 bonds; authorizing the execution and delivery of a continuing disclosure agreement; and prescribing other matters relating thereto. D. INFORMATIONAL: 1 . Council Tour: May 19, 2003 2. Item # 3 Old Business: Unified Development Code: Three copies of the proposed Unified Development Code, Title XV of the Code of • Fayetteville are filed in the office of the City Clerk and are available for the public to inspect and view. 3. Item # 6 New Business: Hotel & Restaurant Bonds (Series 2003): The Preliminary Official Statement, Trust Indenture, Bond Purchase Agreement, Escrow Deposit Agreement, and Continuing Disclosure Agreement documents that arc related to this Agenda Item are available for review in the City Clerk's Office. FAYETTENILLE THE CITY Of FAYETTEVILLE, ARKANSAS KI"r WILLIAUMS, CITY ATTORNEY DAVID WHITAKER, ASST. CITY ATTORNEY LEGAL DEPARTMENT DEPARTMENTAL CORRESPONDENCE TO: Dan Coody, Mayor City Council FROM : Kit Williams, City Attorney DATE: May 20, 2003 RE: Consent Item #5 Resolution to ratify resolution of the Fayetteville Public Facilities Board At the last second, the Fayetteville Public Facilities Board decided they would like to increase the bond authority from $3,700,000 to $4,070,000. We have accordingly changed the figure on the Resolution provided to you in your Agenda Packet from $3 .7 million to $4.07 million. If anyone wishes to remove this from the Consent Agenda because of this change, please notify Mayor Coody at or before the City Council meeting. Attached is the amended Resolution and background information from the Fayetteville Public Facilities Board . RESOLUTION NO. A RESOLUTION RATIFYING THE RESOLUTION OF THE FAYETTEVILLE PUBLIC FACILITIES BOARD APPROVING MULTIFAMILY HOUSING REVENUE BONDS (GRANDVIEW APARTMENTS PROJECT), SERIES 2003 IN AN AGGREGATE PRINCIPAL AMOUNT OF NOT TO EXCEED $4,070,000 WHEREAS, The Fayetteville Public Facilities Board (the "Board"), is a public body politic and corporate with the power of perpetual succession created by Ordinance Number 2485 , as amended (the "Ordinance') of the City Council of the City of Fayetteville, Arkansas (the "City") under the constitution and laws of the State of Arkansas (the "State"), including the Public Facilities Board Act as codified at Arkansas Code Annotated § 14- 137- 101 et seq. ( 1987 & Supp. 1995), as amended (the "Act"); and WHEREAS, the Board is authorized by the Act and the Ordinance to issue and sell its revenue bonds and to use the proceeds to finance residential housing facilities in the City for low and moderate income families, to secure payment of such revenue bonds as therein provided (including bond insurance or letters of credit), all in accordance with the provisions of the Act and the Ordinance; and WHEREAS, the Board has determined that the economic interests of the City and public purposes of the Board are served by issuing its Multifamily Housing Revenue Bonds, Series 2003 (Grandview Apartments Project) (the "Bonds") in an aggregate principal amount of not to exceed $4,070,000 for the purpose of providing moneys to provide financing for the acquisition and rehabilitation of a multifamily housing project for low to moderate income households known as Grandview Apartments (the "Project") and for other purposes related thereto; and WHEREAS, the Bonds are not a debt of or a pledge of the credit of either the City or the Board and neither the City nor the Board is obligated to pay debt service on the Bonds; and WHEREAS, the Act provides that none of the powers granted to the Board under the provisions of the Act shall be subject to the supervision or regulations or require the approval or consent of the State or of any municipality or political subdivision of the State, except as provided in the Ordinance; and WHEREAS, pursuant to the provisions of the Ordinance, Resolutions adopted by the Board which authorize the issuance of bonds for financing a multifamily housing project for low to moderate income households shall be ratified by the City; and WHEREAS, the Board adopted Resolutiond on April 21 , 2003 and May 20, 2003 to approve the Bonds subject to the ratification by the City and subsequent approval by the Board of final financing terms; and WHEREAS, such Resolutions adopted by the Board on April 21 , 2003 and May 20, 2003 , authorized the Chairman and Secretary to execute documents to effect the issuance of the Bonds; and WHEREAS, the City, as an exercise of its ministerial powers should ratify the Board 's Resolution in recognition that the City is not a part of the deliberative process of approval of the issuance of the Bonds and provided further that the City should ratify the Resolution adopted by the Board on April 21 , 2003 and May 20, 2003, based upon a determination that the Board has solely and independently exercised its powers and responsibilities in a manner which complies with the Ordinance. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS Section 1 . Recognition of Board's Authority. The Board is authorized by the Act and the Ordinance to approve the issuance of the Bonds for the purpose of providing moneys to finance residential housing facilities for low and moderate income families, pay the costs of issuing the Bonds and for other purposes related thereto and shall comply with other provisions of the Act and the Ordinance. The Bonds by statute and intent of this City Council are not a debt of or a pledge of the credit of either the City or the Board and neither the City nor the Board is obligated to pay debt service on the Bonds whether or not said Bonds have been properly issued. Section 2 . Ratification of Board's Resolution . The provisions of the Board 's Resolutions approved April 21 , 2003 and May 20, 2003 , a copy of both Resolutions which are filed with the Clerk of the City, are hereby ratified by the City. Section 3 . Severability. If any provision of this Resolution shall be held or deemed to be or shall, in fact, be illegal, inoperative or unenforceable, the same shall not affect any other provision or provisions herein contained or render the same invalid, inoperative or unenforceable to any extent whatever. Section 4. Repeal of Resolutions in Conflict. All Resolutions and parts of Resolutions in conflict herewith are hereby repealed to the extent of such conflict. PASSED and APPROVED this the 20`s day of May, 2003 . APPROVED: By: DROV DAN COODY, Mayor ATTEST: By: Sandra Smith, City Clerk 2 , May IS 03 04 : 07p p , 2 AILANIA KUTAK ROCK LLP uta ERD OES MOINES SUITE 1100 rArETTEVILLE Q5 WEST CAPITOL AVENUE vNDOLN KANSAS CITY LITTLE ROCK , ARKANSAS 72101-3409 NEWPORT SEACN OKLA40MA CITY 501-975-3000 OMAHA FACSIMILE 301-97¢3001 PASADENA RICHMOND SCOTTSDALE W W.406kro CL .COT WASHINGTON MEMORANDUM TO FAYF.TTEVII,LF. PUBLIC FACILITIES BOARD MEMBERS AND MR. JIM MCCOR-D REGARDING FAYETTE• VILLE PUBLIC FACILIITIES BOARD MULTIFAMILY HOUSING REVENUE BONDS (GRANDVIEW APARTMENTS PROJECT) SERIES 2003 Please find the attached Amended Resolution with regard to the Fayetteville Public Facilities Board Multifamily Housing Revenue Bonds (Grandview Apartments Project), Series 2003 . Due to a decrease in the interest rate charged by the underwriter as of May 1 , 2003, higher than estimated rents being approved by HUD, and a decision to make further improvements to the property, the Borrower has determined that they would like to increase the amount of the bond. Therefore, the Borrower requests an amendment of the April 21 , 2003 Resolution increasing the aggregate principal sum of the bonds from 53,700,000 to $4,070,000. May 15, 2003 108216 I/I , May 16 03 04 : 07p p . 3 RESOLUTION A RESOLUTION AMENDING THE RESOLUTION OF APRIL 219 2003 TO REVISE THE AGGREGATE PRINCIPAL AMOUNT OF THE ISSUER'S MULTIFAMILY HOUSING REVENUE BONDS (GRANDVIEW APARTMENTS PROJECT) SERIES 2003 (THE "BONDS"); AND FOR OTHER RELATED PURPOSES. WHEREAS, the Fayetteville Public Facilities Board (the "Issuer') has been organized and exists under the laws of the State of Arkansas as a public facilities board; and WHEREAS, the Issuer is authorized and empowered by law, including particularly Arkansas Code Annotated Sections 14- 137- 101 , ct seq., as amended, (the "Act") and Ordinance No. 2465, as amended, of the City Council of the City of Fayetteville, Arkansas (the "Ordinance"), to borrow and lend funds in order to assist one or more multi-family residential housing facilities that provide housing for low-income persons and families in Fayetteville, Washington County, Arkansas; WHEREAS, on April 21 , 2003 the Issuer adopted its resolution authorizing the issuance of the Bonds (the "Resolution"); and WHEREAS, the Issuer proposes to Amend the Resolution of April 21 , 2003 to revise the aggregate principal amount with regard to the Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE FAYETTEVII LE PUBLIC FACILITIES BOARD AS FOLLOWS: SECTION A. That any reference in the Resolution to 53,700,000 aggregate principal amount of the Bonds be amended with respect to the Bonds, specifically in Section 2 of the Resolution, to read as follows: " . . . in an aggregate principal sum not in excess of 54,070,000. . ." SECTION B. That the Chairman or the Secretary of the Issuer be and they hereby are authorized to execute and deliver for and on behalf of the Issuer any and all additional certificates, documents, opinions or other papers and perform all other acts as they may deem necessary or appropriate in order to implement and carry out the intent and purposes of this Resolution. SECTION C. That all prior resolutions or portions thereof of the Issuer which are inconsistent with the contents hereof are hereby repealed. SECTION D. That this Amendment to the April 21 , 2003 Resolution of the Issuer shall become effective immediately upon its passage and approval. [REMAINDER OF PAGE. INTENTIONALLY LEFT BLANK] 10-492!5. 1 . May 16 03 04 : 08p p . 4 • i Adopted and approved this _ day of May, 2003. FAYETTEVILLE PUBLIC FACILITIES BOARD By Chairman Attest: By ___ _ -- — Secretary 1"8243. 1 MAT. N. LUUJ 9 : U9rM AUTAh NUUA NU, JAD r. J • KUTAK ROCK LLP • SUITE 1100 ATLANTA 42S WEST CAPITOL AVENUE CHICAGO O LITTLE ROCK, ANKAN64S 72201.U09 Du53 MO Molw [a i �+ T[Tr[vu.I St11.97SSOOp LINCOLN FACSIMILE 501.9754001 KANIAa CITT Wg*PO[T [[AGM W" LulaArocccom OKLAHOMA GITV OMAHA oAIAOe NA RICHMOND ICOTra DALI 1NAININOTON MEMORANDUM TO MR. HUGH EARNEST AND MR. JIM MCCORD REGARDING FAYETTEVILLE PUBLIC FACILTIES BOARD MULTIFAMILY REVENUE BONDS (GRANDVIEW APARTMENTS PROJECT) SERIES 2003 Please find the attached Notice of Public Hearing regarding the above mentioned project that was published in the Arkansas Democrat Gazette Full Run (all 75 counties in Arkansas) on Sunday, May 4, 2003. Also attached is a draft of the minutes for the Public Hearing scheduled for Monday, May 19, 2003, at 1 :00 P.m., in room 326 of the third floor of the City Administration Building located at 113 W. Mountain, Fayetteville, Arkansas. Please be advised that the proposed maximum bond amount has been increased from 530700,000 to $4,070,000 since the Notice of Public Hearing was published. This increase is due to a decrease in the interest rate charged by the underwriter as of May 1 , 2003, higher than estimated rents being approved by HUD, and a decision to make further improvements to the Property. As a result, the Borrower has determined that they would like to increase the amount of the bond. An Amending Resolution will go before the Board p� the Public Hearing �g held. This increase to the bond amount does not require a new Notice of Public Hearing due to the fact that a change of IWo or less is considered under the IRS Regulations to be an insubstantial deviation from the amount published in the Notice (§5f. 103-2(0(2) of the Internal Revenue Code Regulations). May15, 2003 fo.uw.ln May 20 03 05 : 55p p . 3 NOTICE OF PUBLIC HEARING REGARDING ISSUANCE OF AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $3,7009000 FAYETTEVILLE PUBLIC FACILITIES BOARD MULTIFAMILY HOUSING REVENUE REFUNDING BONDS (GRANDVIEW APARTMENTS PROJECT) SERIES 211113 NOTICE IS HEREBY GIVEN of a public hearing to be held on 19' day of May, 2002, by a representative of the Fayetteville Public Facilities Board (the "Issuer"), at 1 :00 p.m., in room 326 of the third floor of the City Administration Building located at 113 W. Mountain, Fayetteville, Arkansas, with respect to the hereinabove captioned bonds (the "Bonds"), to be issued by the Issuer in an original principal amount not to exceed $3,700,000, issued pursuant to Arkansas Code Annotated §§14-137- 101 at. .seq. ( 1996 Repl. and Supp. 2001) as amended, and the Ordinances of the City Council of Fayetteville, Arkansas and for the purpose described below, the proceeds of which will be loaned to GV Affordable Housing Limited Partnership (the `Borrower"), an Arkansas limited partnership created under the laws of the State of Arkansas. The proceeds of the Bonds will be used to provide financing for acquisition and rehabilitation of a multifamily housing project for low to moderate income households, as more particularly described below,kto be owned and operated by the Borrower and located in the City of Fayetteville, Washington County, Arkansas, named Grandview Apartments (the "Project'). 1 . The Project is located at 401W. 241° Street in the City of Fayetteville, Washington County, Arkansas, and consists of 128 units. All interested parties are invited to attend the public hearing to express their views with respect to the' issuance of the Bonds. Questions or requests for additional information may be directed to Kutak Rock LLP, 425 West Capitol Avenue, Suite 1100, Little Rock, Arkansas 72201 , and (501) 975-3000. Any interested persons unable to attend the hearing may submit their views in writing to Mr. Wooten Epes at the address of Kutak Rock LLP set forth above, prior to the date scheduled for the hearing. The location and time of the hearing may be changed or an additional hearing may be scheduled. The Bonds will be issued pursuant to a Trust Indenture entered into between the Issuer and Regions Bank as trustee and will be secured thereunder by payments made by the Borrower under a Loan Agreement. The Bonds will not be payable from any revenues of City of Fayetteville or the State of Arkansas and will not constitute an indebtedness of the City of Fayetteville or the State of Arkansas or any subdivision thereof, within the meaning of any constitutional or statutory provision. The Issuer has no taxing power. This notice is published and the above-described hearing is to be held in satisfaction of the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, regarding the approval of the project by the governmental unit issuing the Bonds prerequisite to the exclusion from gross income for federal income tax purposes of the interest on the hereinabove captioned Bonds with respect to the requirement for a public hearing conducted by the Issuer and Arkansas Code Annotated Scction 19-9-607 (Rept. 1998). FAYETTEVILLE PUBLIC FACILTIES BOARD Publication Instructions: Publish one time in the Arkansas Democrat Gazette Frill Rum on May 4, 2002, 2003. Please send your statement, along with two proofs of publication, to Melissa Carrier, do Kutak Rock LLP, 425 W. Capitol, Scute 1100, Little Rock. Arkansas, 72201. ro{swtr May 16 03 04 : 46p p . l JAMES N. MCCORD Attorney at Law 11 N. WEST AVE SUITE #202 FAYETTEVILLE. ARKANSAS 72701 TELEPHONE (479) 695- 1134 FACSIMLE (479) 695- 1135 ilmm000 rdlaw®alltel.net May 16, 2003 To: Fayetteville Public Facilities Board VIA FACSIMILE/U. S. MAIL From: James N. McCord, Board Counse /YV Re: Board Meeting May 20, 2003 The Fayetteville Public Facilities Board will meet on Tuesday. May 20, 2003 beginning at 4: 15 p.m. in the conference room of Stephens Inc, 3425 N. Futrall Drive, Suite 201 , Fayetteville Arkansas. Items on the agenda are: ( 1 ) A resolution amending the April 21 , 2003 authorizing the issuance of multifamily housing revenue bonds for the Grandview Apartments Project to revise the aggregate principal amount of the bonds to a sum not in excess of $46070,000. Enclosed are the amending resolution and a memorandum from bond counsel explaining the reason an increase in the amount of bonds from $3, 700,00 to $4,070,000 is requested. (2) A report from BOSC, Inc. on possible restructuring of the Board's outstanding housing bonds. pc: Fayetteville City Clerk (For FOIA notice to media) 718-7695 fax Wooten Epes, Kutak Rock (Bond Counsel) (501 ) 975-3001 fax May 16 03 04 : 460 p . 2 A t ( u TA KUTAK ROCK LLP DENVER° CHJCA Oct VOIPAS sVIrF 1700 • • ( TTf VI1tf 425 WEST CAPITOL AVENUE LINCOLN KANSAS 41 ♦ LITTLE ROCK. ARKANSAS 72201OR09 4CW0047 !( AGE OK : A .IOMA CI ' v 501.9753000 OMAN♦ FACSIMILE 501-9753001 PASADENA RICHMOND VVV.AUIR\rOcE Com SGDiT SDA. ( WASHINGTON MEMORANDUM TO FAYFTTEVILLF- PUBLIC FACILITIES BOARD MEMBERS AND MR. JIM MCCORD REGARDING FAYETTEVILLE PUBLIC FACILIITIF.S BOARD MULTIFAMILY HOUSING REVENUE BONDS (GRANDVIEW APARTMENTS PROJECT) SLRIES 2003 Please find the attached Amended Resolution with regard to the Fayetteville Public Facilities Board Multifamily Housing Revenue Bonds (Grandview Apartments Project), Series 2003 . Due to a decrease in the interest rate charged by the underwriter as of May I , 2003, higher than estimated rents being approved by HUD, and a decision to fnake further improvements to the property, the Borrower has determined that they would like to increase the amount of the bond. Therefore, the Borrower requests an amendment of the April 21 , 2003 Resolution increasing the aggregate principal surn of the bonds from $3,700,000 to $4,070,000. May 15, 2003 1049248 IA May IG 03 04 : 47p p . 3 RESOLUTION A RESOLUTION AMENDING THE RESOLUTION OF APRIL 21 , 2003 TO REVISE. THE AGGREGATE PRINCIPAL AMOUNT OF THE ISSUER'S MULTIFAMILY HOUSING REVENUE BONDS (GRANDVIEW APARTMENTS PROJECT) SERIFS 2003 (THE "BONDS"); AND FOR OTHER RELATED PURPOSES. WHEREAS, the Fayetteville Public Facilities Board (the "Issuer ') has been organized and exists under the laws of the State of Arkansas as a public facilities board; and WHEREAS, the Issuer is authorized and empowered by law, including particularly Arkansas Code Annotated Sections 14- 137- 101 ; et seq., as amended, (the "Act") and Ordinance No. 2465, as amended, of the City Council of the City of Fayetteville, Arkansas (the "Ordinance"), to borrow and lend funds in order to assist one or more multi-family residential housing facilities that provide housing for low-income persons and families in Fayetteville, Washington County, Arkansas; WHEREAS, on April 21 , 2003 the Issuer adopted its resolution authorizing the issuance of the Bonds (the "Resolution"); and WHEREAS, the Issuer proposes to Amend the Resolution of April 21 , 2003 to revise the aggregate principal amount with regard to the Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE FAYETTEVILLE PUBLIC FACILITIES BOARD AS FOLLOWS: SECTION A. That any reference in the Resolution to S3,700,000 aggregate principal amount of the Bonds be amended with respect to the Bonds, specifically in Section 2 of the Resolution, to read as follows: ". . . in an aggregate principal sum not in excess of $4,070,000. . . " SECTION B. That the Chairman or the Secretary of the Issuer be and they hereby are authorized to execute and deliver for and on behalf of the Issuer any and all additional certificates, documents, opinions or other papers and perform all other acts as they may deem necessary or appropriate in order to implement and carry out the intent afid purposes of this Resolution. SECTION C. That all prior resolutions or portions thereof of the Issuer which are inconsistent with the contents hereof are hereby repealed. SECTION D. That this Amendment to the April 21 , 2003 Resolution of the Issuer shall become 'effective immediately upon its passage and approval. [ REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 0.11243. May 16 03 04 : 47p p . 4 Adopted and approved this _ day of May, 2003. FAYETT8VILLE PUBLIC FACILITIES BOARD By Chairman Anest: By Secretary 1048245. 1 FAYETTIVILLE THE CITV OF F'AVETTEVILI.F., ARKANSAS 113 W. Mountain St. Fayetteville, AR 72701 Telephone: 479-575-8264 PLANNING DIVISION CORRESPONDENCE TO: Mayor Dan Coody Fayetteville City Council FROM : Dawn T. Warrick, AICP, Zoning & Development Admin. DATE: May 16, 2003 SUBJECT: Additional information for May 20, 2003 Meeting Please find attached the following supplemental items for the May 20, 2003 City Council meeting: Item B. 1 . : RZN 03- 14.00 (Williams) ■ Accident report from Fayetteville Police Department for the intersection at Shiloh Drive and Mt. Comfort Road for the past four years Item C.3 . : C-PZD 03-2.00 (Lowe' s) ■ Letter from AHTD regarding the proposed street light at Sherman Way (new street) and Hwy 62 W (6`h Street) Item C.5. : VAC 03-8 .00 (Wallace) ■ Updated memo ■ Photographs of the subject property (a single family home in the Covington Park subdivision) RECEi1IFD MAY 19 2003 CITY OF FAYETTEVILLE CITY CLERK'S OFFICE May 14 03 11 : 12a Rords 58:3570 p . 1 Feu vz� 63 � Fayetteville Police Department iPO Box 1988 I J r 100-A West Rock Street Fayetteville, AR 72701 Office (479) 587-3555 Fax (479) 587-3570 Date: S=/`/- D Sheets (including cover): a-- i To: Attention : -! Fax Number: d p Re: _ L4z'64:1 4442:r From: DeptJPhone: Comments: 2 • d OLSE - LBS spiooad REI : ii EO 4I Rew • Maa 14 03 11 : 13a Records 587 - 3570 p . 2 � v a s� . yyy .quo " l qq yyY • n 00Zxc * � f OVC " Cl : u " u ' e el q a \ p YYY \ 1PY � ��• MFCC ^ M y t~1 N P JY • � : . • V • "O V • �EVn r0 Y n , M O N N r N � • w . • o o . o , y n • 4 a � Y , Y 4 < O < V • K • u • u wu � u v v v a re u r e g i i qii i 4 ` Y 1O• Y " K 00 00v vv 00 ON 1N w 1 � �_ go NT,-f ARKANSA41 STATE HIGHWAY • qH�o AND TRANSPORTATION DEPARTMENT DISTRICT FOUR 4019 TOWSON AVE. • P. O. BOX 1424 • FORT SMITH, AR 72902-1424 • TELEPHONE (479) 646-5501 • FAX (479) 646-8286 WASHINGTON - CRAWFORD - FRANKLIN - SEBASTIAN - LOGAN - SCOTT - POLK May 8, 2003 RECE " ' .' D Honorable Dan Coody, Mayor City of Fayetteville MAY 12 2003 113 W . Mountain, CITY OF FAYETTEVILLE Fayetteville, AR 72701 MAYOR'S OFFICE Re: Traffic Study for Proposed Lowe's 6'" Street and Finger Road Highway 62, Section 1 Washington County \ Fayetteville DearlUa Noody: This office recently received a traffic study prepared by Peters and Associates that recommended the installation of a traffic signal at the intersection of Highway 62 and an access drive for a proposed Lowe's Home Improvement Warehouse in Fayetteville. Upon receipt of the study, Mr. Perry Franklin with the City of Fayetteville was contacted and he indicated that he was familiar with the proposal and indicated the city concurred with the developers request for the Department's review of the study. The proposed development is in the southwest quadrant of the intersection of Highway 62 and Finger Road . According to the study, the property will be accessed at three separate locations. The first, Drive "B", is the western most drive and the location .of the proposed traffic signal . The second , Drive "A", separates Lowe's from the proposed small retail development and bisects the overall development. The third access location is at the signalized intersection of Finger Road and Highway 62 . All three locations either currently have or are proposed to have exclusive right tum lanes. Proposed Drives "A" and "B" are both "T" intersections. With exclusive right tum lanes at each drive, the left tum volume is the critical volume when evaluating the need for signalization . The number of peak hour left turns at Drive "B" and Drive "A" is estimated to be 111 vehicles per hour and 26 vehicles per hour, respectively. As shown on Page 4C-9 of the Manual on Uniform Traffic Control Devices, the minimum threshold one lane volume for consideration of a traffic signal is 75 vehicles per hour during the peak hour. Therefore, any delay at Drive "B" will cause traffic to shift to Drive "A" where the left tum volume is projected to be less than one vehicle every two minutes (26 vehicles per hour). In addition , even if the volumes were higher than estimated , traffic could utilize the traffic signal at Finger Road . C PZD 09 - a Mayor Dan Coody May 8 , 2003 Page 2 In consideration of the fad that the proposed development has two major access drives on Highway 62 and direct access to an existing signalized intersection, we do not agree with the conclusion reached in the report that this development warrants signalization. If you have any questions concerning this review, please contact Joe Shipman , District Construction Engineer, at this office. ery truly yours, Harold Beaver District Four Engineer c: Peters and Associates Roadway Design Division