City of Dallas, Texas Urban Land Bank Demonstration Program

City of Dallas, Texas  Urban Land Bank Demonstration Program City of Dallas, Texas  Urban Land Bank Demonstration Program - Start

2018-11-10 7K 7 0 0

Description

Application Training. Overview. Dissecting the Application. Program Description. Program Uses. Lot Sales Price. Eligible Program Applicants. Program Requirements. Application Steps. Tentative Application Timeline. ID: 725851 Download Presentation

Embed code:
Download Presentation

City of Dallas, Texas Urban Land Bank Demonstration Program




Download Presentation - The PPT/PDF document "City of Dallas, Texas Urban Land Bank D..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.



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

Slide2

Overview

Dissecting the Application

Program Description

Program Uses

Lot Sales Price

Eligible Program Applicants

Program Requirements

Application Steps

Tentative Application Timeline

Exhibits

Contact Information

Slide3

Dissecting the Application

Instructions

Pgs. 1-9

Application

Scoring Factors

Pgs. 10-11

Exhibits

Pgs. 13-44

Slide4

Program 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.

Slide5

Program 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

Slide6

Lot 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

Slide7

Eligible 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

Slide8

Program 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

Slide9

Exhibits

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

Slide10

Application Steps

Slide11

Tentative 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

Slide12

Contacts

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


About DocSlides
DocSlides allows users to easily upload and share presentations, PDF documents, and images.Share your documents with the world , watch,share and upload any time you want. How can you benefit from using DocSlides? DocSlides consists documents from individuals and organizations on topics ranging from technology and business to travel, health, and education. Find and search for what interests you, and learn from people and more. You can also download DocSlides to read or reference later.