HomeMy WebLinkAbout70-87 RESOLUTION7: rally , A
RESOLUTION NO. 70-87
A RESOLUTION URGING CONGRESS TO AMEND THE 1986
TAX REFORM ..ACT. TO INSURE THAT REHABILITATION
TAX CREDITS ARE AN EFFECTIVE METHOD OF
ACHIEVING HISTORIC', PRESERVATION AND LOW-INCOME
HOUSING OBJECTIVES.
WHEREAS, the 1986 Tax Reform Acts "passive activity" rules
have significantly limited the number of projects that will be
undertaken to create low-income housing and preserve national
register buildings;
WHEREAS, the Committee for the Future Investment in America's
Past is working with congressional staff members to explore ways
in which the rehabilitation tax credits and the low-income housing
credits can be administered to encourage housing projects and the
rehabilitation of historic buildings; and
WHEREAS, the Fayetteville Board of Directors supports the
lobbying efforts by the Committee for the Future Investment in
America's Past.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF FAYETTEVILLE, ARKANSAS:
That the Board of Directors strongly urges Congress to amend
the 1986 Tax Reform Act to insurethat rehabilitation tax credits
and low-income housing credits can be administered to encourage
housing projects and the rehabilitation of historic buildings.
PASSED AND APPROVED this 15th day of September
J.
erk
APPROVED
By:
M yor
1987.