Title
Consider/Discuss/Act on a Request by Lisa and Justin Hammett for Approval of a Rehabilitation Level Historic Neighborhood Improvement Zone Program Tax Exemption (Level II) for the Property Located at 418 North Waddill 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 Rehabilitation Level HNIZ Program tax exemption for the property located at 418 North Waddill 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 Rehabilitation Level exemption (Level II).
* Specifically, the criteria for a Rehabilitation Level incentive are as follows:
o The residential structure is at least 40 years old.
* The home was built circa 1931.
o The owner receives a letter of eligibility from the City of McKinney verifying that the proposed improvements qualify for a rehabilitation incentive.
* The letter of eligibility was issued on September 11, 2023.
o No later than 12 months following the issuance of the letter of eligibility, the owner completes, or causes to be completed, verified, eligible improvements having a combined cost of at least $10,000.
* The applicants did the following eligible work, which totals over $10,000 within the last year:
o Window rehabilitation project ($39,600)
BACKGROUND INFORMATION:
* The Historic Neighborhood Improvement Zone (HNIZ) Program was established in 2008 for the purpose of preserving...
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