Title
Consider approving Resolution No. 2018-119 authorizing the execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of the property located at 12815 Holbrook; and take appropriate action.
Body
BACKGROUND:
In an effort 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 to encourage the redevelopment of existing single-family detached residential properties with the construction of new, higher value, single-family detached residential structures.
DISCUSSION:
Applicant Todd Bonneau Homes is applying for the Demo Rebuild incentive for an existing residence located at 12815 Holbrook which has an improved valuation (excluding the land value) of $34,440. The incentive for this improvement range ($65,000 or less) includes a three (3) year rebate of municipal taxes based on the difference between the original home appraised value (excluding the land value), as determined by the Dallas County Appraisal District and a $30,000 cash grant.
ATTACHMENTS:
1. Demolition Rebuild Application for 12815 Holbrook
2. Location Map for 12815 Holbrook
3. Current Elevation of 12815 Holbrook
4. Proposed Elevation for New Home 12815 Holbrook
5. PPT 12815 Holbrook pdf
6. Resolution 2018-119 for 12815 Holbrook
7. Demolition Rebuild Agreement for 12815 Holbrook
RECOMMENDATION:
Recommended motion by City Administration to approve Resolution No.2018-119 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 12815 Holbrook.
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution 2018-119.
2. I move to approve Resolution 2018-119 with modifications.
3. I move to table the issue for further study or take no action.