Title
Consider approving Resolution No. 2014-092 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 3463 Pine Tree Circle 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:
John and Rebecca Vickers are applying for the Demolition/Rebuild Program and have chosen the incentive option providing for demolition costs and a seven year municipal tax rebate to demolish and construct a new single-family detached residential dwelling at 3463 Pine Tree Circle.
The current improvement value is approximately $99,790 and the estimated value of the new dwelling will be $374,000.
RECOMMENDATION:
Recommendation by City Administration to approve Resolution No. 2014-092 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 3463 Pine Tree Circle.
ATTACHMENTS:
1. Summary Memorandum
2. Demo Rebuild Application
3. Front Elevations
4. Floor Plan-First Floor
5. Floor Plan-Second Floor
6. Location Map
7. Resolution No. 2014-092