STRATEGIC PRIORITY: Economic and Neighborhood Vitality
AGENDA DATE: November 11, 2020
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Historic Preservation
EXECUTIVE: Dr. Eric A. Johnson
______________________________________________________________________
SUBJECT
title
An ordinance amending Section 51A-11.400 of the Dallas Development Code authorizing Authorize an extension of the Historic Preservation Tax Exemption Program Sunset deadline for five years for the period January 1, 2021 through December 31, 2025 - Estimated Revenue Foregone: General Fund ($3,009,088.00) over a five-year period and Debt Service Fund ($1,097,725.00) over a five-year period
body
BACKGROUND
The Historic Preservation Tax Exemption Program (Ordinance No. 21874) was adopted by City Council in October 1993 and was subsequently amended in 1998, 2001, 2004 and 2007. The previous sunset provision was extended in 2015 for five years.
The Sunset Provision in Sec. 51A-11.401 of the Dallas City Code stipulates that no certificates of eligibility may be granted, and no applications for extension of the deadline for rehabilitation or deadline for a certificate of occupancy may be considered, by the Landmark Commission after December 31, 2020.
On September 8, 2020, a briefing memo pertaining to the Historic Preservation Tax Exemption Sunset was included on the agenda of the Economic Development Committee.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
The Economic Development Committee was briefed on the Historic Preservation Tax Exemption Sunset on September 8, 2020.
FISCAL INFORMATION
Estimated Revenue Foregone: General Fund $3,009,088.00 over a five-year period
Estimated Revenue Foregone: Debt Service Fund $1,097,725.00 over a five-year period