Title
Consider approving Resolution No. 2016-128 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of the property located at 14340 Olympic Drive; 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 Michael Shane Leonard is applying for the new Demo Rebuild incentive. This includes an incentive that is based on the increase over the course of five (5) years in the City Property taxes paid on the difference between the original home appraised value (excluding the land value), as determined by the Dallas County Appraisal District. This option also includes a reimbursement of up to $12,500.00 of the cost of demolition of the original home following completion of demolition.
ATTACHMENTS:
1. Demo Rebuild Application 14340 Olympic Drive
2. Location Map 14340 Olympic Drive
3. Current Elevation 14340 Olympic Drive
4. Front Elevation of New Home 14340 Olympic Drive
5. 14340 Olympic Drive PPT
6. Resolution for 14340 Olympic Drive
RECOMMENDATION:
Recommended motion by City Administration to approve Resolution No. authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 14340 Olympic Drive
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution 2016-128
2. I move to approve Resolution 2016-128 with modifications.
3. I move to table the issue for further study or take no action.