Title
Conduct a Public Hearing to Consider/Discuss/Act on the Request by James Russell Monroe for Approval of a Level 1 Tax Exemption for the House Located at 501 North Church Street
Summary
COUNCIL GOAL: Enhance the Quality of Life in McKinney (5C: Continue to marker and highlight McKinney as a unique destination for residents and visitors alike.)
MEETING DATE: March 7, 2019
DEPARTMENT: Planning
CONTACT: Guy R. Giersch, Historic Preservation Officer
Jennifer Arnold, AICP, Director of Planning
STAFF RECOMMENDATION: Staff is recommending approval of the Level 1 tax exemption for 501 North Church Street.
PRIORITY RATING: The property is listed as a high priority building according to the 2015 Update of the Historic Resource Survey. A high priority building contributes significantly to local history or broader historical patterns; is an outstanding or unique example of architecture, engineering or crafted design; retains a significant portion of its original character and contextual integrity; meets, in some cases, criteria for inclusion in the National Register of Historic Places and/or is eligible for a Texas Historical Marker.
ITEM SUMMARY: With an associated agenda item, 19-0003HT, the applicant is requesting approval of a Historic Marker. If the Historic Preservation Advisory Board (HPAB) approves the applicant’s request for a Historic Marker, then, under Ordinance 2015-12-105, the applicant is eligible to request that the HPAB consider an application for a Level 1 tax exemption (100% exemption of the City’s ad valorem taxes for a period of 7 years).
Per the Collin Central Appraisal District, estimated ad valorem taxes for this property in 2019 are $1,242.
ASSESSMENT: Staff has inspected the house to confirm that the building has architectural integrity and has been properly rehabilitated/restored and maintained according to the Secretary of the Interior’s Standards.
In Staff’s assessment, the applicants have met the requirements to obtain a tax exemption under Level 1 of the Historic Neighborhood Improvement Zone Tax Exemption Program. Therefore, Staff is recommending approval of the Level 1 tax exemption for 501 North Church Street.