STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: April 8, 2020
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Housing & Neighborhood Revitalization
EXECUTIVE: Dr. Eric A. Johnson
______________________________________________________________________
SUBJECT
Title
Authorize the (1) sale of up to 20 Land Transfer lots, for up to 20 single family homes, included in West Dallas Land Transfer cluster, to Builders of Hope Community Development Corporation (Developer), a certified Community Housing Development Organization (CHDO), subject to restrictive covenants, a right of reverter, and execution of all necessary documents pursuant to the City's Land Transfer Program and the New Construction and Substantial Rehabilitation Program; (2) release of all non-tax City liens, notices, or orders that were filed on the 20 Land Transfer lots prior or subsequent to the deeds transferring the lots to the City of Dallas; and (3) execution of a loan agreement with Developer for construction of up to 20 single family homes - Not to exceed $1,141,922.00 - Financing: HOME Investment Partnership Grant Funds
Body
BACKGROUND
The Department of Housing and Neighborhood Revitalization (Housing) administers two related programs under the Comprehensive Housing Policy (CHP) that seek to appropriately incentivize private investment for the development of quality, sustainable housing that is affordable to the residents of the City: (1) the New Construction and Substantial Rehabilitation Program, which seeks to provide financial assistance to new developments or substantial rehabilitation developments, where such assistance is necessary; and (2) the Land Transfer Program, which allows Housing to sell qualifying City-owned real property and resell tax-foreclosed real property to for-profit, non-profit and/or religious organizations in a direct sale at less than fair market value of the land, consistent with the authorizing statute or ordinance.
On May 9, 2019, Housing ...
Click here for full text