Title
Consider approving Resolution No. 2014-116 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of the property located at 14160 Rawhide and take appropriate action.
Body
BACKGROUND:
The City Council recently enhanced the Residential Demolition/Rebuild Program by establishing two incentive options: (1) To provide up to $5,000 for the cost of the demolition and a seven year municipal tax rebate; or (2) To provide a municipal tax rebate up to ten years with the option of advancing 50% of the estimated municipal tax increase upon receipt of permanent financing.
This item supports Core Value No. 3 to provide for strong, thriving commercial and residential neighborhoods through planning, land use, development, code enforcement, revitalization activities and programs.
DISCUSSION:
Jack and Lore Martin are applying for the Residential Demolition/Rebuild Program option providing for demolition costs and a seven year municipal tax rebate to demolish and construct a new single-family detached residential dwelling at 14160 Rawhide.
The current improvement value is approximately $150,830 and the estimated value of the new dwelling will be $345,000.
RECOMMENDATION:
Recommended motion by City Administration to approve Resolution No. 2014-116 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 14160 Rawhide and take appropriate action.
ATTACHMENTS:
1. Information Memorandum
2. Demo Rebuild Application
3. Front Elevation
4. Rear Elevation
5. Floor Plan-First Floor
6. Floor Plan-Second Floor
7. Location Map
8. Resolution No. 2014-116