Title
Consider approving Resolution No. 2013-081 authorizing the City Manager to execute an Economic Development Incentive Agreement pursuant to the Residential Demolition/Rebuild Program for the residence located at 14302 Juniper Cove and take appropriate action.
Body
BACKGROUND:
The availability of quality housing stock in the City of Farmers Branch encourages the retention of businesses, attracts new businesses, and promotes expansion of existing businesses to and within the City. In turn, quality housing stock will stimulate growth, create jobs, and increase property and sales tax revenues. In an effort to accomplish this, the City Council enacted a Residential Demolition/Rebuild Program pursuant to Chapter 380 of the Texas Local Government Code to encourage the redevelopment of existing one-family detached residential properties with the construction of new, higher value, one-family detached residential structures.
This agenda item supports Core Value No. 3 which provides for strong, thriving commercial and residential neighborhoods through planning, land use, development, code enforcement, revitalization activities and programs.
DISCUSSION:
Todd Warren is applying for an incentive to demolish and construct a new one-family detached residential dwelling at 14302 Juniper Cove. The current improvement value is approximately $186,380 and the estimated value of the new dwelling will be $350,000.
RECOMMENDATION:
City Administration recommends the City Council approve Resolution No. 2013-081 authorizing the City Manager to execute an Economic Development Incentive Agreement pursuant to the Residential Demolition/Rebuild Program for the residence located at 14302 Juniper Cove.
ACTIONS:
1) Motion to approve Resolution No. 2013-081 authorizing the City Manager to execute an Economic Development Incentive Agreement pursuant to the Residential Demolition/Rebuild Program for the residence located at 14302 Juniper Cove.
2) Motion to deny Resol...
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