Title
Discuss City of Farmers Branch-owned parcels/lots.
Body
REQUESTOR:
Councilman David Reid
Councilwoman Tina Bennett-Burton
BACKGROUND:
In 1999, the City of Farmers Branch created the Neighborhood Renaissance Program to provide a catalyst to encourage residential developers to build new residences in this area. The City purchased certain lots and desired to offer those lots to residential builders.
In 2009, the program was rebooted to focus on the Branch Crossing area until 2014, when the City phased out of the area. In 2017, the City started a new target area, which was identified as the Valwood Area. In 2023, the City partnered with Builders of Hope for five (5) homes located within the target area to promote other means of homeownership.
DISCUSSION:
The City currently has 24 lot parcels within the target area of Valwood (18) and 24 total lots for sale. City staff is asking for direction if all parcels located within the target area shall partner with the nonprofit Builders of Hope to set up additional affordable housing programs.
City staff seeks further direction on whether to include the remaining six (6) parcels in the program or list them for sale on the open market.
DISTRICT:
District 1 and District 2
ATTACHMENT(S):
1. Presentation