Title
Consider approving Resolution No. 2018-35 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of the property located at 14310 Valley Hi Circle; 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 TNT Home Design, LLC (business owner Thomas Cusick) is applying for the Demo Rebuild. 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 14310 Valley Hi Circle
2. Location Map 14310 Valley Hi Circle
3. Current Elevation 14310 Valley Hi Circle
4. Front Elevation of New Home 14310 Valley Hi Circle
5. PPT 14310 Valley Hi Circle
6. Resolution 2018-35
7. Demo Rebuild Agreement for 14310 Valley Hi Circle
RECOMMENDATION:
Recommended motion by City Administration to approve Resolution No.2018-35 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 14310 Valley Hi Circle.
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution 2018-35.
2. I move to approve Resolution 2018-35 with modifications.
3. I move to table the issue for further study or take no action.