Title
Consider/Discuss/Act on a Request by Kelsey Larson for Approval of a Historic Marker Level Historic Neighborhood Improvement Zone Program Tax Exemption (Level I) for the Property Located at 416 West Virginia Street
Summary
COUNCIL GOAL: Enhance the Quality of Life in Downtown McKinney
MEETING DATE: August 1, 2024
DEPARTMENT: Development Services - Planning Department
CONTACT: Cassie Bumgarner, Historic Preservation Planner II
Jennifer Arnold, AICP, Director of Planning
RECOMMENDED BOARD ACTION:
* Staff recommends approval of the request.
ITEM SUMMARY:
* The applicant requests approval of a Historic Marker level HNIZ Program tax exemption for the property located at 416 W Virginia Street.
* To be eligible for a tax exemption incentive under the HNIZ Program, residential properties must meet the minimum eligibility requirements of the program, along with specific criteria for the requested incentive level.
* Staff has reviewed the request and has found that it meets the minimum eligibility requirements of the HNIZ Program for a Historic Marker Level exemption.
* Specifically, the criteria for a Historic Marker Level incentive are as follows:
o The property has received a historic marker designation pursuant to the Historic Mark Program requirements outlined in Chapter 98 of the City's Code of Ordinances.
* The property owners are submitting a City of McKinney Historic Marker application on August 1, 2024.
o A minimum investment of $10,000 in building improvements for the property has been demonstrated within at least the previous 3 years from the date of the incentive request.
* Within the last three years, the owners have completed rehabilitation efforts to the structure, including:
o Main sewer connection replacement and new tie in ($2,700)
o Installed seamless gutters and downspouts ($963.56)
o Roofing ($1,700)
o Full exterior paint, including wood repairs as needed ($7,500)
BACKGROUND INFORMATION:
* The Historic Neighborhood...
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