Title
Consider approving Resolution No. 2014-057 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 13725 Braemar Drive and take appropriate action.
Body
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:
Eric and Mary Davis are applying for an incentive to demolish and construct a new single-family detached residential dwelling at 13725 Braemar Drive. The current improvement value is approximately $158,660 and the estimated value of the new dwelling will be approximately $450,000.
RECOMMENDATION:
City Administration recommends approving Resolution No. 2014-057 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of the property located at 13725 Braemar Drive.
ACTIONS:
1) Motion to approve Resolution No. 2014-057 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 13725 Braemar Drive.
2) Motion to deny Resolution No. 2014-057 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for t...
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