Title
Consider approving Resolution No. 2026-002 authorizing the execution of a Residential Demolition/Rebuild Program incentive agreement in the amount of $20,000 and a four (4) year property tax rebate for the property located at 12821 Epps Field Road; and take appropriate action.
Body
REQUESTOR:
Economic Development and Tourism
BACKGROUND:
To improve the quality of housing opportunities in Farmers Branch, the City Council enacted a Residential Demolition/Rebuild Program pursuant to Chapter 380 of the Texas Local Government Code. This encourages the redevelopment of existing single-family detached residential properties by constructing new, higher-value, single-family detached residential structures.
DISCUSSION:
The applicant, Joyce Lieu, is applying for the demolition/rebuild incentive for an existing residence located at 12821 Epps Field Road, which has an improved valuation (excluding the land value) of $66,250. The incentive for this range ($65,001 to $100,000) includes a four (4)-year rebate of municipal taxes based on the difference between the original and new home appraised value (excluding the land value), as determined by the Dallas County Appraisal District, and a $20,000 cash grant. The time frame for the City to achieve a return on investment is thirteen (13) years. The builder is JC Mayfair, Inc., a Texas corporation.
This application was submitted before the change to the Demolition/Rebuild Program.
FISCAL IMPACT:
Budgeted Financial Impact of $20,000
DISTRICT:
District 3
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution No. 2026-002 as presented.
2. I move to approve Resolution No. 2026-002 with modifications.
3. I move to table the issue for further study or take no action.
ATTACHMENT(S):
1. Resolution No. 2026-002
2. Application
3. Presentation