Funding Available to Improve Homes in Hospital Districts
Property owners in Irving's Hospital Districts are invited to take advantage of a new housing incentive program. Designed to improve the quality and value of housing stock, as well as improve and sustain the marketability of city neighborhoods, this pilot program will provide financial rebates to property owners making qualifying improvements to existing properties in Irving's Historic Hospital District, the Irving Hospital District and Hospital District – South.
The area targeted for this new pilot program is generally bound by Airport Freeway to the north, O'Connor Road to the east, Oak Meadow Drive to the west, and Grauwyler Road to the south. Irving's Housing Incentive Program for property owners in the Hospital Districts offers assistance for two types of improvements: external improvements (Tier One) and extreme home makeovers (Tier Two).
Tier One External ImprovementsIn general, Tier One improvements are limited to exterior enhancements of the property visible from public right of way or front yard. Examples of Tier One projects include replacement of roof, siding, windows or front driveway. Other qualifying Tier One improvements include the installation of front yard landscaping with a sprinkler system or the complete repainting of a house. Participating property owners can receive a 25 percent cash reimbursement from the city for completing approved projects.
Tier Two Extreme MakeoverTier Two improvements, on the other hand, are projects that involve the demolition of an existing residential unit with plans to replace it with a new single-family detached unit of greater value. Those who complete approved Tier Two projects can receive a reimbursement equal to 5 percent of the new dwelling and sitework costs.
More InformationRebates to property owners shall be made within 45 days of staff notification to owner of the final amount approved for reimbursement at the conclusion of the project. Minimum property owner investment for Tier One projects must be $15,000; and there is a $200,000 minimum for total cost of new construction and sitework of Tier Two projects.
To discuss additional program guidelines or to obtain an application, contact TIF Administrator Kevin Kass at (972) 721-2251 or firstname.lastname@example.org.
Posted July 23