Title
Consider approving Resolution No. 2025-153 authorizing the negotiation and execution of an agreement for the sale of property to the Farmers Branch Local Government Corporation for resale to Builders of Hope Community Development Corporation (CDC) for development of attainable housing; and take appropriate action.
Body
REQUESTOR:
Councilman Omar Roman
BACKGROUND:
In 1999, the City of Farmers Branch established the Neighborhood Renaissance Program to encourage residential developers to build new homes in the area. As part of this initiative, the City purchased various residential lots to offer to residential builders. In 2009, the program was revamped to focus specifically on the Branch Crossing area until 2014. In 2017, the Valwood Area was initiated. In 2023, the City partnered with Builders of Hope to construct five new homes.
At the July 15, 2025, City Council meeting, the Council indicated its desire to sell the remaining 22 City-owned lots to Builders of Hope CDC, to develop attainable housing. Of the 22 lots, 19 are located in District 1 and three are located in District 2.
DISCUSSION:
To facilitate the sale of the lots to Builders of Hope, the staff proposes establishing four options, each with a minimum and maximum number of lots to be sold.
FISCAL IMPACT:
The lots were purchased for $4,436,165.
DISTRICT:
District 1 and District 2
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution No. 2025-153
2. I move to approve Resolution No. 2025-153 with modifications.
3. I move to table the issue for further study or take no action.
ATTACHMENTS:
1. Resolution No. 2025-153
2. Neighborhood Renaissance Spreadsheet
3. Presentation