PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: May 13, 2020
COUNCIL DISTRICT(S):|910|DEPARTMENT: Department of Housing & Neighborhood Revitalization
EXECUTIVE: Michael Mendoza Dr. Eric A. Johnson
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SUBJECT
Title
Authorize (1) the sale of up to 11 Land Transfer lots, for up to 13 single family homes, included in Jeffries-Meyers cluster 1 and/or 3, to Muse Family Foundation and/or its affiliates (Developer), 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) the release of all non-tax City liens, notices, or orders that were filed on the 11 Land Transfer lots prior or subsequent to the deeds transferring the lots to the City of Dallas; and (3) execution of a conditional grant agreement with Developer and/or its affiliates in an amount not to exceed $1,141,000.00 in 2017 General Obligation Bond Funds for the development of up to 13 single family homes and for public infrastructure costs; - Not to exceed $1,141,000.00 - Financing: ECO (I) Fund (2017 General Obligation Bond Fund)
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BACKGROUND
The Department of Housing and Neighborhood Revitalization (Housing) administers two related programs 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 t...
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