Presentations text content in City of Dallas, Texas Urban Land Bank Demonstration Program
Slide1
City of Dallas, Texas
Urban Land Bank Demonstration Program
Application Training
Slide2Overview
Dissecting the Application
Program Description
Program Uses
Lot Sales Price
Eligible Program Applicants
Program Requirements
Application Steps
Tentative Application Timeline
Exhibits
Contact Information
Slide3Dissecting the Application
Instructions
Pgs. 1-9
Application
Scoring Factors
Pgs. 10-11
Exhibits
Pgs. 13-44
Slide4Program Description
The Dallas Housing and Acquisition Development Corporation (DHADC) is a non-profit entity organized under Chapter 379C of the Texas Local Government Code.
The following taxing entities participate in the Land: City of Dallas, Dallas County, Dallas County Hospital District, Dallas Independent School District, Dallas County School District, and Dallas County Community College District.
The purpose is to reclaim tax delinquent real estate for affordable housing development, community purposes and side lots.
Slide5Program Uses
For Sale Homes (min. of 5 yr. deed restriction):
A minimum of 25% sales < 60% of AMFI
Not more than 30% sales between 81% and 115% of AMFI
(45% of sales must be between 61% - 80% of AMFI)
B. Rental (min. of 15 yr. deed restriction):
100% < 60% AMFI
40% < 50% AMFI
20% < 30% AMFI
C. Community Purposes, for example:
Retail and community gardens
D. Side Lots Sold to Adjacent OwnersSide lots sales to adjacent owners can not sell, lease or transfer lot 3 years from the date of sale
Slide6Lot Sales Price
A. For-Sale or Rental development projects
Fair Market Value as determined by a Comparative Market Assessment
Price discounts will be subject to project underwriting and consideration of the targeted housing beneficiary
B. Community Purpose (lesser of):
Fair Market Value as determined by a Comparative Market Assessment
Price discounts are not applicable
C. Side Lots
Fair Market Value as determined by the appraisal district, or
Sales price recorded in the annual plan
Price discounts are not applicable to sale of lots to adjacent property owners
Slide7Eligible Program Applicants
A. For Sale, Rental, or Mixed Use:
Qualified Organization (CHDOs) - Right of First Refusal
Qualified Participating Developers
B. Community Purpose:
Not required to be a Qualified Participating Developer
C. Side Lots not appropriate for residential development
Adjacent Property Owners
Slide8Program Requirements
Construction
Insurance
18-months from sale to commence construction
Must revert 3
yrs
from sale if permits and financing is not secured.
Compliance w/federal regulations
Affirmative Fair Housing Marketing and Selection Plan
Section 3
Minority Business Enterprises / Women Business Enterprises
Occupancy RequirementsOther:Community Outreach – 500 ft radiusLot Exchange
Slide9Exhibits
A: Federal, State and Local Requirements
B: List of CHDOs (as of June 6, 2018)
C: Rental and Single-Family Development Guidelines
D: Homebuyer Underwriting Guidelines
E: For-Sale Homebuyer Checklist
F: Sample Timeline
G: Affirmative Fair Housing Marketing Plan / Selection Plan
H: Neighborhood Groups/Associations
I: Applicant Forms
J: Applicant Conflict of Interest QuestionnaireK: Adjacent Property Owner Form
Slide10Application Steps
Slide11Tentative Application Timeline
Due Dates
Tasks
July 25, 2018
Last day to submit applications for
RESERVED LOTS
July 11 - 25, 2018
Accepting applications between the hours of
9:00 am – 5:00 pm for
ALL LOTS
August 10, 2018
Complete scoring and issue Applicant notice
August 24, 2018
Complete underwriting analysis and recommendations
September 20, 2018
Land Bank Board Consideration
September 28, 2018
List of remaining lots available for sale posted on the website
Slide12Contacts
All inquiries or comments should be emailed to:
dallasulbdp@dallascityhall.com
DHADC will continue to post Frequently Asked Questions on the land bank’s website, which is located at:
https://dallascityhall.com/departments/housing-neighborhood-revitalization/Pages/LandAcquisition.aspx
City of Dallas, Texas Urban Land Bank Demonstration Program
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