Title
Consider approving Resolution No. 2019-84 authorizing the execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of the property located at 14342 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:
Applicants Frank Smith and Vantrice Reece are applying for the Demo Rebuild incentive for an existing residence located at 14342 Valley Hi Circle which has an improved valuation (excluding the land value) of $183,650. The incentive for this improvement range ($150,000 and over) includes a seven (7) 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.
ATTACHMENTS:
1. Demolition Rebuild Application for 14342 Valley Hi Circle
2. Location Map for 14342 Valley Hi Circle
3. Current Elevation of 14342 Valley Hi Circle
4. Proposed Elevation for New Home 14342 Valley Hi Circle
5. PPT 14342 Valley Hi Circle pdf
6. Resolution 2019-84 for 14342 Valley Hi Circle
7. Demolition Rebuild Agreement for 14342 Valley Hi Circle
RECOMMENDATION:
Recommended motion by City Administration to approve Resolution No.2019-84 authorizing execution of a Residential Demolition/Rebuild Program Incentive Agreement for the owner of property located at 14342 Valley Hi Circle.
POSSIBLE COUNCIL ACTION:
1. I move to approve Resolution 2019-84.
2. I move to approve Resolution 2019-84 with modifications.
3. I move to table the issue for further study or take no action.