Title
Consider approving Resolution No. 2018-34 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of the property located at 3061 Selma Lane; 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 Cynthia Garcia is applying for the Demo Rebuild incentive based on the program details prior to the February 2018 change. Due to her contract timing, she is eligible for the former grant structure. 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 and new home appraised values (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 3061 Selma Lane
2. Location Map 3061 Selma Lane
3. Current Elevation 3061 Selma Lane
4. Front Elevation of New Home 3061 Selma Lane
5. PPT 3061 Selma Lane
6. Resolution 2018-34
7. Demo Rebuild Agreement for 3061 Selma Lane
RECOMMENDATION:
Recommended motion by City Administration to approve Resolution No.2018-34 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 3061 Selma Lane.
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution 2018-34.
2. I move to approve Resolution 2018-34 with modifications.
3. I move to table the issue for further study or take no action.