HomeMy WebLinkAboutResolution 587 [RES�OLUTION
)J-1 JT i0r1s FILE NO. ��4 J
A
RESOLUTION AUTHORIZING SUBMITTAL OF A GRANT
APPLICATION TO FUND MAIN STREET IMPROVEMENT
PROJECT UNDER THE URBAN DEVELOPMENT ACTION
GRANT PROGRAM OF THE U. S .DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT
WHEREAS, a healthy and vital Central Business District is both
necessary and desirable to contribute to and maintain
the economic health of the inner city ; and
WHEREAS, development of a downtown hotel near the Convention
Center through joint public and private efforts and
stimulation of the tourist/convention industry are high
priority projects of the City' s Comprehensive Economic
Development Strategy; and
WHEREAS , Bass Brothers Enterprise has evidenced interest and capa-
city to develop such facilities as a part of a major
downtown redevelopment project contingent upon public
participation ; and
WHEREAS , the U. S . Department of Housing and Urban Development
has a program tool in Urban Development Action Grants
which may be used to participate in such private/public
projects; and
WHEREAS, the Economic Development Policy Board unanimously approved
the project at its December 11 , 1978 meeting;
NOW, THEREFORE LET IT BE RESOLVED, the City Council authorize the
City Manager to apply for and accept an Urban Develop-
ment Action Grant in the amount of $3 ,000,000 to provide
for public improvements on Main Street concurrent with
the major downtown development proposed by Bass Brothers
Enterprises which includes a hotel to serve the Tarrant,
County Convention Center and to improve tourist and con-
vention opportunties for the City of Fort Worth .