Title
Consider approving Resolution No. 2018-31 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of the property located at 12242 Ridgefair Pl; 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 Terri Flowers is applying for the Demo Rebuild incentive. Ms. Flowers lost her home to a fire in January of 2017. It was a complete loss. This was the home her parents had shared since 1985 and the home that she moved into when her mother needed around the clock care. She was in the process of rebuilding the house when she heard about our Demo Rebuild program and inquired if there was any for her to participate. Since the house had already been demolished staff is recommending the tax rebate portion of the program; not the demolition cash grant. 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. The original Improvement was valued at $144,840, putting this applicant in the 3rd tier of the program (5 year tax incentive).
ATTACHMENTS:
1. Demo Rebuild Application for 12242 Ridgefair Pl
2. Location Map for 12242 Ridgefair Pl
3. Original Improvement of 12242 Ridgefair Pl
4. Front Elevation of New Home 12242 Ridgefair Pl
5. PPT 12242 Ridgefair Pl pdf
6. Letter from Applicant
7. Resolution 2018-31 for 12242 Ridgefair Pl
8. Agreement for 12242 Ridgefair Pl
RECOMMENDATION:
Recommended motion by City Administr...
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