Title
Consider approving Resolution No. 2013-020 authorizing an Economic Development Residential Demolition/Rebuild Program Incentive Agreement for the property located at 13806 Lillard Lane and take appropriate action.
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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 single-family detached residential properties with the construction of new, higher value, single-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:
Yen Fen Chen is applying for an incentive to demolish an existing 1,556 square foot single-family detached residential dwelling valued $71,600 at 13806 Lillard Lane. The current land value is $30,000. The new improvement will be approximately 2,421 square feet with an estimated value of $190,000.
RECOMMENDATION:
City Administration recommends City Council approving Resolution No. 2013-020 authorizing an Economic Development Residential Demolition/Rebuild Program Incentive Agreement for the property located at 13806 Lillard Lane.
ACTIONS:
1) Motion to approve Resolution No. 2013-020 authorizing an Economic Development Residential Demolition/Rebuild Program Incentive Agreement for the property located at 13806 Lillard Lane.
2) Motion to deny Resolution No. 2013-020 authorizing an Economic Development Residential Demolition/Rebuild Program Incentive ...
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