Title
Consider approving Resolution No. 2018-74 authorizing the execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of the property located at 2923 Lavita 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 Todd Bonneau Homes is applying for the Demo Rebuild incentive for an existing residence located at 2923 Lavita Lane which has an improved valuation (excluding the land value) of $75,000. The incentive for this improvement range ($65,001-$100,000) includes a four (4) year rebate of municipal taxes based on the difference between the original home appraised value (excluding the land value), as determined by the Dallas County Appraisal District and a $20,000 cash grant.
ATTACHMENTS:
1. Demolition Rebuild Application for 2923 Lavita Lane
2. Location Map for 2923 Lavita Lane
3. Current Elevation of 2923 Lavita Lane
4. Proposed Elevation for New Home 2923 Lavita Lane
5. PPT 2923 Lavita Lane pdf
6. Resolution 2018-74 for 2923 Lavita Lane
7. Demo Rebuild Agreement for 2923 Lavita Lane
RECOMMENDATION:
Recommended motion by City Administration to approve Resolution No.2018-74 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 2923 Lavita Lane.
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution 2018-74.
2. I move to approve Resolution 2018-74 with modifications.
3. I move to table the issue for further study or take no action.