CC MEETING: August 20, 2024
DATE: August 13, 2024
TO: Erin Rinehart, City Manager
FROM: Cory Heiple, Environmental Services Director
Krystle Boise, Strategic Services Director
Title
Consider A Resolution Authorizing The City Manager To Enter Into A Demolition Grant and Rehabilitation Incentive Agreement On An Eligible Property Located At 1607 N. Denton Dr. And Located Within A Neighborhood Empowerment Zone, In A Total Grant Amount Not To Exceed $31,051.76.
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BACKGROUND:
In November of 2014, City Council adopted the Demolition and Rehabilitation Grant Incentive policy. This program provides monetary reimbursement for up to 100% of the cost of demolition of the existing structure and a single incentive payment equivalent to a ten-year abatement of the municipal ad valorem property tax. This program has been marketed throughout the qualifying zones with special outreach focused on NOTICE neighborhoods.
The homeowners of 1607 N. Denton Dr. have applied for a demolition and rehabilitation incentive for demolition of the existing property and reconstruction of a new home. The property is located in a Neighborhood Empowerment Zone and meets the eligibility requirements of the demolition and rehabilitation incentive grant program. The application has been reviewed by the Environmental Services Department and was unanimously approved by the Re-Development Committee.
FINANCIAL IMPLICATIONS:
These rehabilitation incentives are funded through the Neighborhood Partnership Fund. Since 2018, a total of nine projects have been approved by City Council, representing $3,076,301 in private investment and $110,187 in public incentives.
IMPACT ON COMMUNITY SUSTAINABILITY:
The demolition and rehabilitation incentives offer significant tools to prevent blight in Carrollton's older neighborhoods. Revitalizing housing is a key component of the rehabilitation grant program and City Council's community sustainability objectives.
STAFF RECOMMENDATION/ACTION DESIRED:
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