LITTLE ROCK, Ark. — As the City of Little Rock grows, so does the need for more housing.
Little Rock Mayor Frank Scott Jr. has been working on creating more affordable housing, and next week, the city will dedicate land to that purpose.
According to the city, 45% of Little Rock residents are renters, and city leaders are working to make it easier and more accessible to afford a home.
"They have the ability to become homeowners," Little Rock Director Virgil Miller said. "We don't have the inventory."
According to Miller, this is one of the few reasons people may not buy homes. However, the city has been acquiring land for years to ensure it can be used.
"The land bank was created to, number one, inventory these properties, and number two, sell them to developers that are going to develop affordable housing," Miller said.
Next week, Little Rock directors will vote on two properties from the land bank to transfer to developers.
One is at 2119 South Martin Street. The other property is at 1001 Dennison Street. If the directors approve, the lots will house duplexes.
Scott has advocated for affordable housing during his term, and his new sales tax proposal reflects that.
$10 million is designated for this, and more funding will be allowed to go towards organizations that continue developing these properties.
Scott said he is getting ready to send them a detailed description of the updated proposal, including more infrastructure and public safety funding.
The Little Rock Board of Directors will vote on the land bank properties next week.
Community meetings have ended for the mayor's sales tax proposal, and he is expected to introduce the finished version to the board soon.