Title
Consider approving Resolution No. 2018-128 authorizing the execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of the property located at 2659 Leta Mae; 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. The Demolition Rebuild program was started in 2009. The program has experienced a total of 68 participants with 12 in the current calendar year (2018). There have been 3 program changes occurring in August 2014, December 2017, and February 2018.
DISCUSSION:
Applicant Todd Bonneau Homes is applying for the Demo Rebuild incentive for an existing residence located at 2659 Leta Mae which has an improved valuation (excluding the land value) of $28,690. The incentive for this improvement range ($65,000 or less) includes a three (3) 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 $30,000 cash grant.
ATTACHMENTS:
1. Demolition Rebuild Application for 2659 Leta Mae
2. Location Map for 2659 Leta Mae
3. Current Elevation of 2659 Leta Mae
4. Proposed Elevation for New Home 2659 Leta Mae
5. PPT 2659 Leta Mae pdf
6. Resolution 2018-128 for 2659 Leta Mae
7. Demolition Rebuild Agreement for 2659 Leta Mae
RECOMMENDATION:
Recommended motion by City Administration to approve Resolution No.2018-128 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 2659 Leta Mae.
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution 2018-128.
2. I move...
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