KEY FOCUS AREA: Economic Vibrancy. AGENDA DATE: April 10, 2013 COUNCIL DISTRICT(S): 4. DEPARTMENT: Housing/Community Services

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1 KEY FOCUS AREA: Economic Vibrancy AGENDA DATE: April 10, 2013 COUNCIL DISTRICT(S): 4 DEPARTMENT: Housing/Community Services CMO: Ryan S. Evans, MAPSCO: 55Z SUBJECT A public hearing to receive comments on the proposed sale of one unimproved property acquired by the taxing authorities from the Sheriff to Dallas Neighborhood Alliance for Habitat, Inc., a qualified nonprofit organization; and, at the close of the public hearing, authorize the City Manager to: (1) quitclaim one unimproved property to Dallas Neighborhood Alliance for Habitat, Inc. under the HB1 10 process of the City s Land Transfer Program; and (2) release the City s nontax liens included in the foreclosure judgment and postjudgment nontax liens, if any (list attached) Revenue: $1,000.0O BACKGROUND The HB11O process of the City s Land Transfer Program, in accordance with Section 226 of the Dallas City Code ( Code ) and with Section of the Texas Local Government Code, permits the City to sell land, which the City has acquired as a trustee, for itself and the other taxing jurisdictions, from the Sheriff pursuant to the tax foreclosure process, to a qualified nonprofit organization for the purpose of providing affordable housing, subject to the consent of the other taxing jurisdictions. Property eligible for the HB11O process of the City s Land Transfer Program must to be sold by quitclaim deed and include a possibility of reverter and right of reentry, triggered under certain conditions, including if construction of affordable housing is not completed on the property within three years of the nonprofit s receipt of the quitclaim deed. The quitclaim deed must also include deed restrictions that ensure the desired development of the property and maintain the affordability of the property as required by the Code.

2 BACKGROUND (continued) Per the Code, the sales price of each property is $1,000 for up to 7,500 square feet of land plus $0.133 for each additional square foot of land, which amount is distributed by the City to both the City and the other taxing jurisdictions in accordance with Section of the Texas Tax Code, plus an amount equal to the actual fees charged for recording the Sheriff s deed and the quitclaim deed in the real property records. Prior to the approval of any sale, the Code requires that the City Council hold a public hearing to receive comments on the proposed sale of land and provide certain notices to the public. Dallas Neighborhood Alliance for Habitat, Inc., submitted a proposal to construct one singlefamily home containing approximately 1,279 square feet on one unimproved HB11O processeligible, Land Transfer Program property, identified on Exhibit A, attached to the resolution, for purchase by a low to moderate income homebuyer at a proposed sales price of $75,000 $85,000, with construction to begin in March This item calls for a public hearing to allow the public an opportunity to comment on the proposed sale of the one unimproved property to Dallas Neighborhood Alliance for Habitat, Inc., and, at the close of the public hearing, authorizes the sale of the property to Dallas Neighborhood Alliance for Habitat, Inc., by quitclaim deed and the release of the City s nontax liens included in the foreclosure judgment and the postjudgment nontax liens, if any. In conformance with the Code, at least ten calendar days prior to the public hearing, a sign indicating the time and place of the public hearing was placed on the properly, notification of the public hearing was mailed to property owners within 200 feet of the property, and notice of the public hearing was published in the Dallas Morning News. PRIOR ACTION/REVIEW (Council. Boards. Commissions) On February 27, 2013, authorized a public hearing to receive comments on the proposed sale by quitclaim deed of one unimproved property acquired by the taxing jurisdictions from the Sheriff to Dallas Neighborhood Alliance for Habitat, Inc., Resolution No FISCAL INFORMATION by Revenue $1,000 Agenda Date 04/10/2013 page 2

3 OWNER Dallas Neighborhood Alliance for Habitat, lnc, Richard Kelly, President MAP Attached Agenda Date 04/10/2013 page 3

4 Tax Foreclosure and Seizure Property Resale Parcel NonProfit DCAD Sale Vac/ No. Address Organization Amount Amount Imp Zoning Exeter Dallas Neighborhood $6,900 $1,000.0O V R7.5(A) Alliance for Habitat, Inc.

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6 COUNCIL CHAMBER April 10, 2013 WHEREAS, the of the City s Land Transfer Program, in accordance with Section 226 of the Dallas City Code ( Code ) and with Section of the Texas Local Government Code, permits the City to sell land, which the City has acquired as a trustee, for itself and the other taxing jurisdictions, from the Sheriff pursuant to the tax foreclosure process, to a qualified nonprofit organization for the purpose of providing affordable housing, subject to the consent of the other taxing jurisdictions; and WHEREAS, property eligible for the HB11O process of the City s Land Transfer Program must be sold by quitclaim deed and include a possibility of reverter and right of reentry, triggered under certain conditions, including if construction of affordable housing is not completed on the property within three years of the nonprofit s receipt of the quitclaim deed; and WHEREAS, the quitclaim deed must also include deed restrictions that ensure the desired development of the property and maintain the affordability of the property as required by the Code; and WHEREAS, per the Code, the sales price of each property is $1,000 for up to 7,500 square feet of land plus $0133 for each additional square foot of land, which amount is distributed by the City to both the City and the other taxing jurisdictions in accordance with Section of the Texas Tax Code, plus an amount equal to the actual fees charged for recording the Sheriff s deed and the quitclaim deed in the real property records; and WHEREAS, prior to the approval of any sale, the Code requires that the City Council hold a public hearing to receive comments on the proposed sale of land and provide certain notices to the public; and WHEREAS, Dallas Neighborhood Alliance for Habitat, Inc., submitted a proposal to construct one singlefamily home containing approximately 1,279 square feet on one unimproved HB11O processeligible, Land Transfer Program property, identified on Exhibit A, attached hereto and made a part hereof (hereinafter the property ), for purchase by a low to moderate income homebuyer at a proposed sales price of $75,000 $85,000, with construction to begin in March 2016; and WHEREAS, at least ten calendar days prior to the public hearing, a sign indicating the time and place of the public hearing was placed on the property, notification of the public hearing was mailed to property owners within 200 feet of the property, and notice of the public hearing was published in the Dallas Morning News; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS:

7 COUNCIL CHAMBER April 10, 2013 Section 1. That upon receipt of the requisite monetary consideration from Dallas Neighborhood Alliance for Habitat, Inc., (hereinafter the nonprofit organization ) and the approval of the governing bodies of the other affected taxing jurisdictions, the City Manager is hereby authorized to execute a quitclaim deed, approved as to form by the City Attorney and attested by the City Secretary, quitclaiming the property, acquired by the taxing authorities from the Sheriff, to the nonprofit organization, subject to the conditions contained in this resolution. Section 2. That the City Manager is hereby authorized to execute instruments, approved as to form by the City Attorney, releasing the City s nontax liens included in the foreclosure judgment and postjudgment nontax liens, if any, on the property. Section 3. That the nonprofit organization s proposal for the development of affordable housing on the property, described in Exhibit A, is hereby approved. Section 4. That the quitclaim deed shall contain: (a) A copy or summary of the proposal from the nonprofit organization for the property and a requirement that the property be developed by the nonprofit organization in accordance with the proposal, including the timetable specified in the proposal. (b) A possibility of reverter with right of reentry the nonprofit organization: if the director determines that (i) has failed to take possession of the property within ninety calendar days after receiving the quitclaim deed; (ii) has failed to complete construction of affordable housing on the property within three years after receiving the quitclaim deed or by the end of any extended development period approved by the City Council in accordance with Section 226.6(c) of the Code; (iii) is not developing the property in compliance with the timetable specified in the nonprofit organization s proposal; (iv) is unable to develop the land in compliance with its proposal because a request for a zoning change has been denied; (v) has incurred a lien on the property because of violations of the Code or other City ordinances within three years after receiving the quitclaim deed; and

8 COUNCIL CHAMBER April 10, 2013 (vi) has sold, conveyed, or transferred the property without the consent of the City and the other affected taxing jurisdictions within three years after receiving the quitclaim deed. (c) Deed restrictions requiring the purchaser to: (i) restrict the sale and resale of owneroccupied property to lowincome individuals or families for five years after the date the deed from the nonprofit organization to the initial homebuyer is filed in the real property records of the county in which the property is located; (ii) require the nonprofit organization to develop all proposed housing units on the property in accordance with the Code and all applicable City ordinances and state and federal laws within three years after receiving the quitclaim deed or by the end of any extended development period approved by the City Council in accordance with Section 226.6(c) of the Code, and to obtain inspections and approval of the housing units by the City before initial occupancy; and (iii) require any lowincome individual or family who purchases a housing unit on a property to maintain the housing unit in accordance with the Code and all applicable City ordinances and state and federal laws for a period of five years after the date the deed from the nonprofit organization to the initial homebuyer is filed in the real property records of the county in which the property is located. (d) An indemnification by the nonprofit organization of the City and other affected taxing jurisdictions. (e) A statement and acknowledgment that the property is quitclaimed subject to all redemption rights provided by state law. (f) The nonprofit organization s representation and agreement that it did not purchase the property on behalf of a prohibited person and will not sell or lease the property to a prohibited person for five years from the date of the quitclaim deed. A prohibited person is any party who was named as a defendant in the legal proceedings where the City obtained a final judgment for delinquent taxes and an order to foreclose its tax lien on the property or person in the judgment or seizure tax warrant, or the Sheriff s deed as the owner of the property, authorized seized and ordered sold for delinquent taxes and any municipal health and safety liens.

9 COUNCIL CHAMBER April 10, 2013 Section 5. That the City Manager is to to form by the City Attorney, the City s possibility of reverter with right of reentry terminating the restrictions to the property upon with all and conditions of Section 226 of the the quitclaim including the restrictions and proposal. and Section the deed releasing authorized Code and execute instruments, approved as compliance deed, terms deed 6. That the nonprofit organization shall be for on the property from the of closing for the remaining part of the year. The property shall be placed back on the tax rolls effective of the of execution of the quitclaim assessed thencurrent calendar as date date deed. responsible the prorata taxes Section 7. That any required by law state procedures are hereby waived with required by Section 224 of the to of the property. respect conveyance Code that are not Section 8. That the shall be distributed Section monetary consideration pursuant 9. That any and all organization be to Section deposited to the Section proceeds General received from the nonprofit organization of the Tax Code. Texas for the City s of the property to Fund 0001, Dept DEV, sale 10. That upon receipt of the organization, the City Controller is to property in with Section of the for shall be provided by the Director of Construction, to the City of Dallas Land Clerk and the Dallas County Tax Office from the accordance disbursement authorized monetary consideration the Balance Sheet nonprofit Account from the nonprofit of of Tax Code, which disburse proceeds the sale the Texas Sustainable Development and Based Receivables, account calculations the Dallas County District specified in 9 Section above. 11. this resolution shall effect immediately from in with the provisions of the of City of Dallas, accordingly so resolved. Section passage That accordance take Charter the and after its it is and

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11 KEY FOCUS AREA: Economic Vibrancy AGENDA DATE: April 10, 2013 COUNCIL DISTRICT(S): 4 DEPARTMENT: Housing/Community Services CMO: Ryan S. Evans, MAPSCO: 55Z SUBJECT Authorize (1) approval of the development plan submitted to the Dallas Housing Acquisition and Development Corporation by Dallas Area Habitat for Humanity for the construction of affordable houses; (2) the sale of 2 vacant lots (list attached) from Dallas Housing Acquisition and Development Corporation to Dallas Area Habitat for Humanity; and (3) execution of a release of lien for any nontax liens on the 2 properties that may have been filed by the City nontax liens included in the foreclosure judgment, prejudgment nontax liens not included in the judgment, and postjudgment nontax liens, if any Financing: No cost consideration to the City BACKGROUND On June 18, 2003, Governor Perry signed the Urban Land Bank Demonstration Program Act. The Act allows the governing body of a municipality to adopt an Urban Land Bank Demonstration Program in which the officer charged with selling real property ordered sold pursuant to foreclosure of a tax lien may sell certain eligible real property by private sale to a land bank for the purpose of affordable housing developments. The City Council then established the Dallas Housing Acquisition and Development Corporation (DHADC or Land Bank) as its land bank for the purpose of acquiring, holding and transferring unimproved real property under Subtitle A, Title 12, Local Government Code, Chapter 379C on January 28, On September 17, 2012, the Housing Committee received a briefing regarding the Urban Land Bank Demonstration Program which outlined the process and status of the program.

12 BACKGROUND (continued) Dallas Area Habitat for Humanity (Habitat) has submitted a proposal and development plan to DHADC for 2 lots shown on the attached list. The DHADC Board has approved the development plan and sale, subject to City Council approval. This item will authorize City Council approval of the development plan submitted by Habitat to the City s Land Bank, the sale of those lots from DHADC to Habitat and the release of lien for any nontax liens that may have been filed by the City nontax liens included in the foreclosure judgment, prejudgment nontax liens not included in the judgment and postjudgment nontax liens, if any. The vacant lots were purchased by DHADC from a Sheriff s sale pursuant to foreclosure of tax liens and any nontax liens. DHADC s Deed without Warranty to Habitat will contain a reverter that returns the property to DHADC if a construction permit is not applied for by Habitat and construction financing is not closed within three years of conveyance. Habitat will build affordable houses on the lots. The approximate square footage and sales prices of the houses will be 1,279 square feet and from $75,000 to $85,000. The lots will be deed restricted for sale to a low income family and will require at least 25 percent of the developed homes (2 in this proposal) to be sold to households with gross household incomes not greater than 60 percent of the Area Median Family Income (AMFI) as determined annually by HUD. A maximum of 30 percent of the developed homes (0 in this proposal) may be sold to households with gross incomes from 81 percent to 115 percent of the AMFI as determined annually by HUD. If 30 percent of the homes are sold to buyers at 81 percent to 115 percent of the AMFI, the remaining homes (0 in this proposal) will be sold to buyers below 81 percent of the AMFI and in compliance with the minimum 25 percent requirement to sell to buyers below 60 percent of the AMFI. DHADC will receive $8, for the sales price, as calculated from the Land Bank Plan approved by City Council. PRIOR ACTION/REVIEW (Council, Boards, Commissions) On January 28, 2004, by Resolution No , the City Council established DHADC as its land bank for the purpose of acquiring, holding and transferring unimproved real property for the purpose of promoting the development of affordable housing as allowed under Chapter 379C of the Texas Local Government Code. On February 21, 2013, DHADC approved the development plan and sale of 2 lots from DHADC to Habitat. Agenda Date 04/10/2013 page 2

13 FISCAL INFORMATION No cost consideration to the City MAP Attached Agenda Date 04/10/2013 page 3

14 LAND BANK (DHADC) SALE OF LOTS TO HABITAT COUNCIL AMOUNT OF PROPERTY ADDRESS DISTRICT NONTAX LIENS Exeter 4 $11, Exeter 4 $14,979.94

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16 COUNCIL CHAMBER Airil 10, 2013 WHEREAS, on January 28, 2004, the City Council established the Dallas Housing Acquisition and Development Corporation (DHADC) as its land bank for the purpose of acquiring, holding and transferring unimproved real property under Subtitle A, Title 12, Local Government Code, Chapter 379C; and WHEREAS, Dallas Area Habitat for Humanity (Habitat) submitted a proposal and development plan to DHADC for 2 lots shown on Exhibit A and the DHADC Board has approved the development plan and sale, subject to City Council approval; and WHEREAS, the City Council desires to approve the development plan shown on Exhibit B submitted by Habitat and authorize the sale of the said 2 lots from DHADC to Habitat to build affordable houses; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS: Section 1. That the development plan shown on Exhibit B submitted by Habitat and the sale of 2 lots shown on Exhibit A from DHADC to Habitat is approved. Section 2 That the City Manager, upon approval as to form by the City Attorney, is authorized to execute a release of lien for any nontax liens that may have been filed by the City a release of lien for any nontax liens included in the foreclosure judgment, prejudgment nontax liens not included in the judgment and any nontax liens that may have been filed by the City postjudgment on the lots shown on Exhibit A. Section 3. That this resolution shall take effect immediately from and after its passage in accordance with the provisions of the Charter of the City of Dallas, and it is accordingly so resolved.

17 A EXHIBIT 11 wrr I AND BANK PROPERfl, iry1r U *. Lrrr r L U. PiRLIL STRLFTADkSS bjyalllwi) I MJMIWR SALE O } NUMBFR I FGAL IWSckll flon PURflIASER HO%IFOWNEI UfTS AMOUNT 2M Leier I 44, Il 610 I.tcr 1 : rrm

18 EXHIBIT B SECTION II: DEVELOPMENT PLAN A. DESCRIPTION OF THE LAND REQUESTED FOR DEVELOPMENT (1) Number of lots requested in this proposal. _j (2) Land Bank name for this parcel of lots. Unknown (3) Provide the property address and legal description of the land requested (attach extra sheets if necessary) (the Property ) Exeter (Lot 8. Exeter Ave.. Lisbon Heights) and 2610 Exeter (Lot 3. Exeter Dr.. Lisbon Heights B. DESCRIPTION OF PROPOSED HOUSES ENTITY WILL CONSTRUCT At least 25% of the Land Bank properties sold during any given fiscal year to be developed shall be deed restricted for sale to households with gross annual incomes not greater than 60% of AMFL No more than 30% of the Land Bank properties sold during any given fiscal year to be developed shall be deed restricted for sale to households with gross annual incomes between 81% and 115% of AMFI. (At least 70% of the Land Bank properties sold during any fiscal year to be developed shall be deed restricted for sale to households with gross annual incomes at 80% AMFI or less.) Single Family Home (to be sold to low income households at 60% or less of AMFI): Number of homes to be built on lots 1 on each lot Square Footage of each home 1222 l6ltota Number of Bedrooms/Baths in each home 3 / 2 Number of Garages_j Number of Carports Detached Attached Type of Exterior Veneer_Brick or hardiboard Which sides 4 Your Sales Price ranges without Subsidies to Qualified Low Income Buyer $7585,000_ Single Family Iloine (to be sold to low Income households at 80% or less of AMFI: Number of homes to be built on lots Square Footage of each home Number of Bedrooms/Baths in each home / Number of Garages Number of Carports Detached Attached Type of Exterior Veneer Which sides Your Sales Price ranges without Subsidies to Qualified Low Income Buyer Single Family Home (to be sold to low income households between 81% and 115% of AMFO: Number of homes to be built on lots Square Footage of each home Number of Bedrooms/Baths in each home / Number of Garages_ Number of Carports Detached Attached Type of Exterior Veneer Which sides Your Sales Price ranges without Subsidies to Qualified Low Income Buyer Attach extra sheet(s) breaking out above information for each different model of home. PROVIDE FLOOR PLANS AND ELEVATIONS.

19 C. CONSTRUCTION TIMETABLE State the number of days it will take you to complete construction and sale of improved Property from the date of obtaining the executed deed from DHADC. Attach a schedule if you desire. The deed conveying property sold by DHADC will include a right of reverter so that if the Entity does not apply for a construction permit and close on any construction financing within a twe three year period following the date of conveyance of the property from the DHADC to the Entity, the property will revert to the DHADC for subsequent resale. Commencement of Construction days Completion of Construction days Sale of first affordable housing unit to low income households days Sale of last affordable unit to low Income households JiQ days

20 KEY FOCUS AREA: Economic Vibrancy AGENDA DATE: April 10, 2013 COUNCIL DISTRICT(S): 7 DEPARTMENT: Housing/Community Services CMO: Ryan S. Evans, MAPSCO: 55B SUBJECT Authorize (1) approval of the development plan submitted to the Dallas Housing Acquisition and Development Corporation by Texas Heavenly Home Builders, Ltd. for the construction of affordable houses; (2) the sale of 2 vacant lots (list attached) from Dallas Housing Acquisition and Development Corporation to Texas Heavenly Home Builders, Ltd.; and (3) execution of a release of lien for any nontax liens on the 2 properties that may have been filed by the City nontax liens included in the foreclosure judgment, prejudgment nontax liens not included in the judgment, and postjudgment nontax liens, if any Financing: No cost consideration to the City BACKGROUND On June 18, 2003, Governor Perry signed the Urban Land Bank Demonstration Program Act. The Act allows the governing body of a municipality to adopt an Urban Land Bank Demonstration Program in which the officer charged with selling real property ordered sold pursuant to foreclosure of a tax lien may sell certain eligible real property by private sale to a land bank for the purpose of affordable housing developments. The City Council then established the Dallas Housing Acquisition and Development Corporation (DHADC or Land Bank) as its land bank for the purpose of acquiring, holding and transferring unimproved real property under Subtitle A, Title 12, Local Government Code, Chapter 379C on January 28, On September 17, 2012, the Housing Committee received a briefing regarding the Urban Land Bank Demonstration Program which outlined the process and status of the program.

21 BACKGROUND (continued) Texas Heavenly Home Builders, Ltd. has submitted a proposal and development plan to DHADC for 2 lots shown on the attached list. The DHADC Board has approved the development plan and sale, subject to City Council approval. This item will authorize City Council approval of the development plan submitted by Texas Heavenly Home Builders, Ltd. to the City s Land Bank, the sale of those lots from DHADC to Texas Heavenly Home Builders, Ltd. and the release of lien for any nontax liens that may have been filed by the City nontax liens included in the foreclosure judgment, prejudgment nontax liens not included in the judgment and postjudgment nontax liens, if any. The vacant lots were purchased by DHADC from a Sheriff s sale pursuant to foreclosure of tax liens and any nontax liens. DHADC s Deed without Warranty to Texas Heavenly Home Builders, Ltd. will contain a reverter that returns the property to DHADC if a construction permit is not applied for by Texas Heavenly Home Builders, Ltd. and construction financing is not closed within three years of conveyance. Texas Heavenly Home Builders, Ltd. will build affordable houses on the lots. The approximate square footage and sales prices of the houses will be from 1,600 square feet to 2,500 square feet and from $125,000 to $250,000. The lots will be deed restricted for sale to a low income family and will require at least 25 percent of the developed homes (1 in this proposal) to be sold to households with gross household incomes not greater than 60 percent of the Area Median Family Income (AMFI) as determined annually by HUD. A maximum of 30 percent of the developed homes (0 in this proposal) may be sold to households with gross incomes from 81 percent to 115 percent of the AMFI as determined annually by HUD. If 30 percent of the homes are sold to buyers at 81 percent to 115 percent of the AMFI, the remaining homes (1 in this proposal) will be sold to buyers below 81 percent of the AMFI and in compliance with the minimum 25 percent requirement to sell to buyers below 60 percent of the AMFI. DHADC will receive $10, for the sales price, as calculated from the Land Bank Plan approved by City Council. PRIOR ACTION/REVIEW (Council, Boards, Commissions) On January 28, 2004, by Resolution No , the City Council established DHADC as its land bank for the purpose of acquiring, holding and transferring unimproved real property for the purpose of promoting the development of affordable housing as allowed under Chapter 379C of the Texas Local Government Code. On February 21, 2013, DHADC approved the development plan and sale of 2 lots from DHADC to Texas Heavenly Home Builders, Ltd. Agenda Date page 2

22 FISCAL INFORMATION No cost consideration to the City MAP Attached Agenda Date 04/10/2013 page 3

23 LAND BANK (DHADC) SALE OF LOTS TO Texas Heavenly Home Builders, Ltd. AMOUNT OF PROPERTY ADDRESS MAPSCO NONTAX LIENS Sparks 558 $12, Sparks 558 $ 9,024.84

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25 COUNCIL CHAMBER April 10, 2013 WHEREAS, on January 28, 2004, the City Council established the Dallas Housing Acquisition and Development Corporation (DHADC) as its land bank for the purpose of acquiring, holding and transferring unimproved real property under Subtitle A, Title 12, Local Government Code, Chapter 379C; and WHEREAS, Texas Heavenly Home Builders, Ltd. submitted a proposal and development plan to DHADC for 2 lots shown on Exhibit A and the DHADC Board has approved the development plan and sale, subject to City Council approval; and WHEREAS, the City Council desires to approve the development plan shown on Exhibit B submitted by Texas Heavenly Home Builders, Ltd. and authorize the sale of the said 2 lots from DHADC to Texas Heavenly Home Builders, Ltd. to build affordable houses; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS: Section 1. That the development plan shown on Exhibit B submitted by Texas Heavenly Home Builders, Ltd. and the sale of 2 lots shown on Exhibit A from DHADC to Texas Heavenly Home Builders, Ltd. is approved. Section 2. That the City Manager, upon approval as to form by the City Attorney, is authorized to execute a release of lien for any nontax liens that may have been filed by the City a release of lien for any nontax liens included in the foreclosure judgment, prejudgment nontax liens not included in the judgment and any nontax liens that may have been filed by the City postjudgment on the lots shown on Exhibit A. Section 3. That this resolution shall take effect immediately from and after its passage in accordance with the provisions of the Charter of the City of Dallas, and it is accordingly so resolved.

26 EXHIBIT A 5 Sp8rIs t. il7spth krn r(nu,.

27 SECTION II: DEVELOPMENT PLAN EXHIBIT B A. DESCRIPTION OF THE LAND REQUESTED FOR DEVELOPMENT (1) Number of lots requested in this proposal. 2 (2) Land Bank name for this parcel of lots. (3) Provide the property address and legal description of the land requested (attach extra sheets if necessary) (the Property ). 74,/ (./ a4fts /&A A/Vt$.c 8 DESCRIPTION OF PROPOSED HOUSES ENTITY WILL CONSTRUCT At least 25% of the Land Bank properties sold during any given fiscal year to be developed shall be deed restricted lbr sale to households with gross annual incomes not greater than 60d,o of AMFL No more than 30% of the Land Bank properties sold during any given fiscal year to be developed shall be deed restricted for sale to households with gross annual incomes between 81% and 115% of AMFL (At least 70 A ofthe Land Bank properties sold during any fiscal year to be developed shall be deed restricted for sale to households with gross annual incomes at 80% AMFI or less) Single Family Home (to be sold to low income households at 60% or less of AMFI): Nnmberofhomestobebuiltonlots / SquareFootageofeachhorne fq0 I. /&0o f Number of Bedrooms/Baths in each home_3_j L Nwnbcz of Garages / Nnber qfcarports Detached ttached Type of Exterior Veneer d(sa A. Which sides Your Sales Price ranges without Subsidies to Qualified Low Income Buyer /2 (A: Single Family Home (to be sold to low income households at 80% or less of AMFI): Nmnberofhomestobebuiltonlots / Square Footage of each home /100.4 ç c Number of Bedrooms/Baths in each home 3.% / Z ( Nmnber ofgarages f Number of Carports Detached Attached TypeofExteriorVencer 134rC,t Which sides 3.dL t tdis) Your Sales Price ranges without Subsidies to Qualified Low Income Buyer co* 4 1i Single Family Home (to be sold to low income households between 81% and 115% of AMFI): Number of homes to be built on lots Square Footage of each home Number of Bedrooms/Baths in each home I Number of Garages Number of Carports Detached Attached Type of Exterior Veneer Which sides Your Sales Price ranges without Subsidies to Qualified Low Income Buyer Attach extra sheet(s) breaking out above information for each different model of home. PROViDE FLOOR PLANS AND ELEVATiONS..

28 C. CONSTRUCTION 11METAULk State the number of days it will take you to complete construction and sale of improved Property from the date of obtaining the executed deed from Dt{ADC. Attach a schedule, if you desire. The deed conveying property sold by DHADC will include a right of reverter so that if the Entity does not apply for a construction permit and close on any construction financing within a two year period following the date of conveyance of the property from the DHADC to the Entity, the property will revert to the DRADC for subsequent resale. Commencement ofconstruction days Completion of Construction 4 S 0 days Sale of first affordable housing unit to low income households Z clays Sale of lt aflbidable unit to low income households days

29 KEY FOCUS AREA: Economic Vibrancy AGENDA DATE: April 10, 2013 COUNCIL DISTRICT(S): 7 DEPARTMENT: Housing/Community Services CMO: Ryan S. Evans, MAPSCO: 55B SUBJECT Authorize (1) approval of the development plan submitted to the Dallas Housing Acquisition and Development Corporation by Texas Heavenly Home Builders, Ltd. for the construction of affordable houses; and (2) the exchange of deed restrictions from 6 lots previously purchased from the Dallas Housing Acquisition and Development Corporation to 6 comparable lots owned by the developer (list attached) No cost consideration to the City Financing: BACKGROUND On June 18, 2003, Governor Perry signed the Urban Land Bank Demonstration Program Act. The Act allows the governing body of a municipality to adopt an Urban Land Bank Demonstration Program in which the officer charged with selling real property ordered sold pursuant to foreclosure of a tax lien may sell certain eligible real property by private sale to a land bank for the purpose of affordable housing developments. On January 24, 2004, the City Council established the Dallas Housing Acquisition and Development Corporation (DHADC or Land Bank) as its land bank for the purpose of acquiring, holding and transferring unimproved real property both under the Act or otherwise. On September 17, 2012, the Housing Committee received a briefing regarding the Urban Land Bank Demonstration Program which outlined the process and status of the program.

30 BACKGROUND (Continued) Texas Heavenly Home Builders, Ltd. has submitted a proposal and development plan to DHADC for the exchange of the deed restrictions from 6 lots previously purchased from the Land Bank to 6 comparable lots owned by the developer. The DHADC Board has approved the development plan and exchange of the deed restrictions, subject to City Council approval. This item will authorize City Council approval of the development plan submitted by Texas Heavenly Home Builders, Ltd. to the City s Land Bank and the exchange of the deed restrictions on the lots. Texas Heavenly Home Builders, Ltd. will build affordable houses on the lots previously owned by them. PRIOR ACTIONIREVIEW (Council. Boards, Commissions) On January 28, 2004, by Resolution No , the City Council established DHADC as its land bank for the purpose of acquiring, holding and transferring unimproved real property for the purpose of promoting the development of affordable housing as allowed under Chapter 379C of the Texas Local Government Code. On February 21, 2013, the DHADC Board approved Texas Heavenly Home Builders, Ltd. s development plan and exchange of the deed restrictions, subject to City Council approval. FISCAL INFORMATION No cost consideration to the City MAP Attached Agenda Date 04/10/2013 * page 2

31 LAND BANK (DHADC) LOT EXCHANGE OF DEED RESTRICTIONS Texas Heavenly Home Builders, Ltd. PROPERTY ADDRESS MAPSCO COUNCIL DISTRICT Bobbie 55B Bobbie 55B Hart 55B Hart 55B Hart 55B Pecan 55B 7 LOTS TO BE EXCHANGED BY DEVELOPER PROPERTY ADDRESS MAPSCO COUNCIL DISTRICT N. Denley 55B N. Denley 55B N. Denley 55B Sparks 55B Sparks 55B N. Moore 55B 7

32 ci_v 9 v 3 rr > 1a4 C c3k) OQYdO1O.uI ; vi;e 4 I [ass O3SdVIN]

33 COUNCIL CHAMBER April 10, 2013 WHEREAS, on January 28, 2004, by Resolution No , the City Council established the Dallas Housing Acquisition and Development Corporation (DHADC) as its land bank for the purpose of acquiring, holding and transferring unimproved real property for the purpose of promoting the development of affordable housing as allowed under Chapter 379C of the Texas Local Government Code; and WHEREAS, Texas Heavenly Home Builders, Ltd. submitted a proposal and development plan to DHADC to exchange the deed restrictions from 6 lots previously purchased from the Land Bank to 6 comparable lots owned by the developer as shown on Exhibit A, as permitted under Section 379C.0105 of the Texas Local Government Code and the DHADC Board has approved the development plan and exchange of the deed restrictions, subject to City Council approval; and WHEREAS, the City Council desires to approve the development plan shown on Exhibit B submitted by Texas Heavenly Home Builders, Ltd. and authorize the exchange of the deed restrictions to build affordable houses; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS: SECTION 1. That the development plan shown on Exhibit B submitted by Texas Heavenly Home Builders, Ltd. and the exchange of the deed restrictions from 6 lots previously purchased from the Land Bank to 6 comparable lots owned by the developer as shown on Exhibit A are approved. SECTION 2. That this resolution shall take effect immediately from and after its passage in accordance with the provisions of the Charter of the City of Dallas, and accordingly so resolved. it is

34 EXHIBIT A LANI) BANK PROPERT ;.iru, S1REJ I >I)KL % U WD U1 H O1 sill OF I) F t II I F U Lfl 1W 1 O% Pt R( H H tic ii j.1 t I I M U U. 1 (IISAt (L1ki I) FR(J I I N1) B 44Ka kbh4e a )h*bb 43 1L,it 4... M W IrL 4. h. h$. 455 tirt i.e. a h.. a *a... *. a. a ) (

35 1V 1191HX3 I t) )! fill V (TUfT V 1) S flfi I 14 N f% I i% S I To I R1 %( U 00 I lsvit W)d t(n 1%1(I IS )4 I fldo t1 SAG.U tfl JYfl)X3 LO1 I 41 % Q., II < Wf% fl,,,..., fl I I fl rt.. HE 01 i,,1

36 EXIIIBIT B SECflON II: DEVELOPNIENT PLAN A. DESCRIPTiON OF THE LAND BANK LOT(S) ACQUIRED BY DEVELOPER AND THE PROPOSED LOT(S) TO BE EXCHANGED (1) Provide the property address and legal description of the lot(s) acquired from the Land Bank by the developer to be exchanged (mach extra sheei ifpecçssary) (he hia/ A( )d? t (2) Provide the property address and legal description of the proposed lot(s) owned by the developer to be exchanged for the Land Bank lot(s) (attach/xtrrshe(s cessary) (the Propert B. DESCRIPTION OF PROPOSED IIOUSFS ENTITY WilL CONSTRUCT At least 25% of the Land Bank properties sold during any given fiscal year to be developed shall be deed restricted for sale to households with gross annual incomes not greater than 60% of AMFL No more than 30% of the Land Bank properties sold during any given fiscal year to be developed shall be deed restricted for sale to households with gross annual incomes between 81% and 115% of AMFL (At least 70% of the Land Bank properties sold during any fiscal year to be developed shall be deed restricted for sale to households with gross annual incomes at 80% AMFI or less.) Single Family Home (to be sold to low income households at 60% or less of AMF1): Numberofhomestobebuiltonlots 2 SquareFootageofeachhoine //o 7oO SI Number of Bedrooms/Baths in each home 3 I Z Number of Garages I Nuiiber of Carports Detached Attached 1 1 Type of Exterior Veneer 3 4ck Which sides F;c, Your Sales Price ranges without Subsidies to Qualified Low Income Buyer /7 14 ff2i/ Single Family Home (to be sold to low Income households at 80% or less of AMFI): Nuniherofhoinestobebuiltonlots 2 Square Footage of each home 7oj /c, o S Number of Bedrooms/Baths in each home I Z. Number of Garagesj_ NunJ,er of Carports Detached 4ttached TypeofExtenorVeneer Whichsides Your Sales Price ranges without Subsidies to Qualified Low Income Buyer A /2 7 fsb Single Family Home (to he sold to low income households between 81% and 113% of AMF1): Numberofhomestobebuiltonlois 2 Square Footage of each home / D2 Zc Number of Bedrooms/Baths in each home?.q /..z. Number of Garages I Number of Carports Detached Attached Type of Exterior Veneer r Which sides /1! Your Sales Price ranges without Subsidies to Qualified Low Income Buyer7ç/, 7 Zo Attach extra sheet(s) breaking out above Information for each different model of home.

37 WP.1 t.j ojwa Lfl(/1Q 0 a0a ; <o ) ab 4%4% >Q o a Z%3%JJ onu1u1 co Z l(x L4 U U1l% I I I I I a a I El F; I

38 PROVIDE FLOOR PLANS AM) ELEVATIONS. C. C0NSTRUCI0N TIMETABLE State the number of days it will take you to complete construction and sale of improved Property from the date of obtaining the executed deed from DHADC. Attach a schedule, if you desire. The deed conveying property sold by DHADC will include a right of reverter so that if the Entity does not apply for a construction permit and close on any construction 6nancing within a three year period following the date of conveyance of the original Land Bank property from the DHADC to the Entity, the property will revert to the DHADC for subsequent resale. Commencement of Construction 9t days Completion of Construction 9O days Sale of first affordable housing unit to low income households 00 days Sale of last affordable unit to low income households S /o. days

39 KEY FOCUS AREA: Economic Vibrancy AGENDA DATE: April 10, 2013 COUNCIL DISTRICT(S): 7 DEPARTMENT: Housing/Community Services CMO: Ryan S. Evans, MAPSCO: 47S SUBJECT Authorize (1) the private the Land Assembly through Land Program, to the provisions of 34 of the Property Tax Code, by Quitclaim Deed of improved property (list 4010 Montie acquired by the taxing from the Sheriff s to Frazier Revitalization, Inc., a qualified nonprofit organization; and (2) execution of a of nontax liens included in the nontax liens, if any, for the property located at 4010 Montie Transfer Street BACKGROUND pursuant sale under one authorities Chapter process the Texas attached) located at Sale foreclosure judgment and postjudgment Revenue: $20,482 Street release This item the private the Land Assembly through the Land Program, to the provisions of 34 of the Property Tax Code, by Quitclaim Deed of (1) improved property located at Montie acquired by taxing authorities from the Sheriff s to Frazier Revitalization, Inc., a qualified nonprofit organization. This property by Sheriff s for unpaid to a from a District Court. This property is being sold to a qualified nonprofit organization provides affordable housing. Frazier Revitalization, Inc. will (1) singlefamily containing approximately 1,000 to 1,500 for by a low to income at the price of to The of construction is Street Transfer Department homebuyer authorizes the commencement date pursuant sale under one taxes pursuant proposed sales judgment construct one square feet $125,000 Summer Chapter that purchase process Sale was foreclosed $190,000 each. Texas home 4010 the moderate anticipated The to this property will include industrialized housing on the properties. deed deed restrictions which prohibit the placement of PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS) This item has no prior action.

40 FISCAL INFORMATION Revenue $20, OWNER Frazier Revitalization, Inc. Dorothy Hopkins, President MAP Attached Agenda Date 04/10/2013 page 2

41 Tax Foreclosure and Seizure Property Resale Parcel NonProfit DCAD Sale Vac/ No. Address Organization Mapsco Amount Amount Imp Zoning Montie Frazier 47S $40,610 $20, Revitalization, Inc. I R5(A)

42 [sty O3SdV\IJ tjejs < 4.q c e. 4, V ML : L9,.., A 44 A i 4 4 _ ML c_ : C () i k ++++ I alt.. C _ , ç ptr Jt4Q t + + H 4. _4 c 4 t4tp 4 dtt,nl :* 4. 4 : S4 tq ondq : 4 4 _.+ _ c+i S + 6: VT134SV4 +4t AM4dANVYllr% 11+ * ; rj9t,+.. : tl +_)++ _

43 COUNCIL CHAMBER AriI 10, 2013 WHEREAS, the City of Dallas ( City ), for itself and as trustee, on behalf of the taxing units named as a party to a judgment or in an application for a seizure warrant for delinquent taxes ( Taxing Units ), received tax title to a certain property by Sheriff s Deed, identified on Exhibit A, attached hereto and made a part hereof, by legal description and the volume and page number of said deed recorded in the real property records of the county in which the property is located, ( Property ); and WHEREAS, in accordance with Attorney General Opinion No. JM1232, the City of Dallas, pursuant to the provisions of Chapter 34 of the Texas Property Tax Code, may resell the Property at any time; and WHEREAS, as authorized by Section of the Texas Local Government Code, the City desires to sell the Property to a qualified nonprofit organization for the development of affordable housing for low income persons, as those terms are defined for the purposes of this resolution in Section of the Dallas City Code ( Code ); and WHEREAS, the City has received a written proposal which contains proposed end use and time frame from the qualified nonprofit organization to purchase the Property by private sale ( Proposal ) at the (1) lesser of the market value as specified in the judgment of foreclosure or the total amount of the judgments against the property, or (2) lesser of the tax warrant amount or the market value of the properly as indicated in the Sheriff s Deed, all as indicated on Exhibit A ; and WHEREAS, the City Council has previously approved the resale of other properties where funds were not received and have not been disbursed prior to the April 1, 2001 Tax Collection Consolidation with Dallas County; and WHEREAS, the proceeds of the resale will be distributed in accordance with Chapter 34, Section of the Texas Property Tax Code; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS: Section 1. That the Proposal identified on Exhibit A is approved by the City. Section 2. That upon receipt of the monetary consideration from Frazier Revitalization, Inc. for the Property on the list as specified on Exhibit A, the City Manager is hereby authorized to execute a Quitclaim Deed, upon approval as to form by the City Attorney and attested by the City Secretary, quitclaiming the Property to Frazier Revitalization, Inc., subject to the right of redemption, if any, and the possibility of reverter with right of reentry, and to the terms and conditions of Code Section through and the Proposal.

44 COUNCIL CHAMBER April 10, 2013 Section 3. That the quitclaim deed to this Property will contain deed restrictions requiring the purchaser to: (1) Restrict the sale and resale of owneroccupied property to lowincome individuals or families for five (5) years after the date of filing, (2) Require the nonprofit organization to develop the proposed housing unit within three (3)years after receiving the quitclaim deed, and (3) Require any lowincome individual or family to maintain each housing unit and all improvements on the land during the five (5) year period. Section 4. That the quitclaim deed to this Property will contain a condition that the quitclaim is also subject to Grantee s representation and agreement that Grantee did not purchase the Property on behalf of a Prohibited Person, as hereinafter defined, and that Grantee will not sell or lease the Property to a Prohibited Person. A Prohibited Person shall mean any party who was named as a defendant in the legal proceedings at which the City obtained a final judgment in a District Court in the county in which the land is located for delinquent taxes and an order to foreclose its tax lien on the property or person in the Judgment or Seizure Tax Warrant, issued in a District Court in the county in which the land is located, or the Sheriff s Deed as the owner of the Property, authorized seized and ordered sold for delinquent taxes and any municipal health and safety liens (as applicable). Grantee s agreement shall be for five (5) years from execution of the quitclaim deed, and any breach or violation thereof may be enforced by Grantor against Grantee at law or in equity to require the correction of the violation. Grantee further agrees that if Grantor substantially prevails in a legal proceeding to enforce these terms, conditions and restrictions, Grantor shall be entitled to recover damages, reasonable attorney fees, and court costs from Grantee. Grantee s agreement to those terms, conditions and restrictions is a material representation and part of the consideration for this transaction. Section 5. That the City Manager is authorized to execute an instrument, approved as to form by the City Attorney, releasing the City s possibility of reverter with right of reentry and terminating the deed restrictions to the Property upon compliance with all terms and conditions of Code Section through , the Proposal, and the deed restrictions. Section 6. That the consideration received shall be distributed pursuant to Chapter 34, section of the Texas Property Tax Code and applied to the payment of the judgment, court costs, interest, and cost of sale and resale owed to the Taxing Units by the delinquent taxpayer or the amount of delinquent taxes, penalties, the amount secured by any municipal health or safety liens on the Property included in the Warrant application, court costs, interest and cost of seizure and sale owed to the Taxing Units as set forth in the Warrant; any such amount(s) still owed by the delinquent taxpayer to any of the Taxing Units shall remain the personal obligation of the delinquent taxpayer.

45 COUNCIL CHAMBER April 10, 2013 Section 7. That the purchaser shall be responsible for the pro rata property taxes assessed from the date of closing for the remaining part of the then current calendar year. This Property shall be placed back on the tax rolls effective as of the date of execution of the deed. Section 8. That the City Manager, upon approval as to form by the City Attorney, is authorized to execute a release of lien for any nontax liens included in the foreclosure judgment and any nontax liens that may have been filed by the City postjudgment on the Property. Section 9. That any and all proceeds for the resale of the Property listed on Exhibit A and for the properties previously approved for resale by the City Council where funds were not received and have not been disbursed prior to the April 1, 2001 Tax Collection Consolidation with Dallas County be deposited to General Fund 0001, Agency DEV, Balance Sheet Account Section 10. That upon receipt of the consideration, the City Controller is authorized to disburse proceeds of the resale of the Property listed on Exhibit A, in accordance with Chapter 34, section of the Texas Property Tax Code, which calculations for disbursement shall be provided by the Development Services Director, to the City of Dallas Land Based Receivables, the Dallas County District Clerk and the Dallas County Tax Office from the account specified in Section 9 above. Section 11. That upon receipt of the distribution amounts, the City Controller is authorized to disburse proceeds pursuant to Chapter 34, section of the Texas Property Tax Code, which calculations for disbursement shall be provided by the Development Services Director, for properties previously approved for resale by the City Council where funds have not been disbursed prior to the April 1, 2001 Tax Collection Consolidation with Dallas County from the account specified in Section 9 above. Section 12. That any procedures required by Code Section 224 that are not required by state law are hereby waived with respect to these conveyances. Section 13. That this resolution shall take effect immediately from and after its passage in accordance with the provisions of the Charter of the City of Dallas, and it is accordingly so resolved.

46 EXHIBIT A TAXFORECLOSED (TF) AND/OR SEIZURE WARRANT (SW) PROPERTY RESALE April 10, 2013 PAfCEL. STRELT AODH,. VACANT! DEED QUALIFIED HOMEQWNR NUMBER Of NO i..egai. DESCRIPflON TFiW IMPROVED VOLUME NON PROFIT PURCi1AR RENTAL. DWELLiNG SA..E AMOrT PAGE tease PURCHASE UNITS Montie Street V.3t09 h rr Fe tahiattüi h Lot 2, Th m fl & IF P 5 1 Swan fl i Bic D4 4t1 TOTAL ti,4d1, /

47 KEY FOCUS AREA: Economic Vibrancy AGENDA DATE: April 10, 2013 COUNCIL DISTRICT(S): 4 DEPARTMENT: Housing/Community Services CMO: Ryan S. Evans, MAPSCO: 55F SUBJECT Authorize (1) approval of the development plan submitted to the Dallas Housing Acquisition and Development Corporation by Sphinx Development Corporation for the construction of affordable houses; and (2) the exchange of deed restrictions from 11 lots previously purchased from the Dallas Housing Acquisition and Development Corporation to 11 comparable lots owned by the developer (list attached) Financing: No cost consideration to the City BACKGROUND On June 18, 2003, Governor Perry signed the Urban Land Bank Demonstration Program Act. The Act allows the governing body of a municipality to adopt an Urban Land Bank Demonstration Program in which the officer charged with selling real property ordered sold pursuant to foreclosure of a tax lien may sell certain eligible real property by private sale to a land bank for the purpose of affordable housing developments. On January 24, 2004, the City Council established the Dallas Housing Acquisition and Development Corporation (DHADC or Land Bank) as its land bank for the purpose of acquiring, holding and transferring unimproved real property both under the Act or otherwise. On September 17, 2012, the Housing Committee received a briefing regarding the Urban Land Bank Demonstration Program which outlined the process and status of the program.

48 BACKGROUND (continued) Sphinx Development Corporation has submitted a proposal and development plan to DHADC for the exchange of the deed restrictions from 11 lots previously purchased from the Land Bank to 11 comparable lots owned by the developer. The DHADC Board has approved the development plan and exchange of the deed restrictions, subject to City Council approval. This item will authorize City Council approval of the development plan submitted by Sphinx Development Corporation to the City s Land Bank and the exchange of the deed restrictions on the lots. Sphinx Development Corporation will build affordable townhouses on the lots previously owned by them. PRIOR ACTION/REVIEW (Council, Boards, Commissions) On January 28, 2004, by Resolution No , the City Council established DHADC as its land bank for the purpose of acquiring, holding and transferring unimproved real property for the purpose of promoting the development of affordable housing as allowed under Chapter 379C of the Texas Local Government Code. On February 21, 2013, the DHADC Board approved Sphinx Development Corporation s development plan and exchange of the deed restrictions, subject to City Council approval. FISCAL INFORMATION No cost consideration to the City MAP Attached Agenda Date 04/10/2013 page 2

49 LAND BANK (DHADC) LOT EXCHANGE OF DEED RESTRICTIONS Sphinx Development Corporation PROPERTY ADDRESS MAPSCO COUNCIL DISTRICT Avenue A 55F Avenue A 55F Avenue A 55F Avenue A 55F Doyle 55F Doyle 55F Avenue A 55F AvenueA 55F Avenue A 55F Doyle 55F Doyle 55F 4 LOTS TO BE EXCHANGED BY DEVELOPER PROPERTY ADDRESS MAPSCO COUNCIL DISTRICT 1. TBD 55F 4 2. TBD 55F 4 3. TBD 55F 4 4. TBD 5SF 4 5. TBD 55F 4 6. TOD 55F 4 7. TBD 55F 4 8. TBD 55F 4 9. TBD 55F TBD 5SF TBD 55F 4

50 0 Mepsco. Inc. 45W 5X E I, O* $f Pk C). F 31u t M*m I.3 dq 0 I CL.2C c,fsw j : :hi Xfi.4. ; 8 [MAPscO 55J

51 COUNCIL CHAMBER April 10, 2013 WHEREAS, on January 28, 2004, by Resolution No , the City Council established the Dallas Housing Acquisition and Development Corporation (DHADC) as its land bank for the purpose of acquiring, holding and transferring unimproved real property for the purpose of promoting the development of affordable housing as allowed under Chapter 379C of the Texas Local Government Code; and WHEREAS, Sphinx Development Corporation submitted a proposal and development plan to DHADC to exchange the deed restrictions from 11 lots previously purchased from the Land Bank to 11 comparable lots owned by the developer as shown on Exhibit A, as permitted under Section 379C.0105 of the Texas Local Government Code and the DHADC Board has approved the development plan and exchange of the deed restrictions, subject to City Council approval; and WHEREAS, the City Council desires to approve the development plan shown on Exhibit B submitted by Sphinx Development Corporation and authorize the exchange of the deed restrictions to build affordable houses; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS: SECTION 1. That the development plan shown on Exhibit B submiffed by Sphinx Development Corporation and the exchange of the deed restrictions from 11 lots previously purchased from the Land Bank to 1 1 comparable lots owned by the developer as shown on Exhibit A are approved. SECTION 2. That this resolution shall take effect immediately from and after its passage in accordance with the provisions of the Charter of the City of Dallas, and it is accordingly so resolved.

52 EXHIBIT A LANI) I (Jt U.HflL I \HWK(fl 1/kO ssisii) I\H 11 (.U 1fl ( iih i U N K( V 1 H B HO%I t% H L \ I I (,r I \I 41 1 I LUfS.., S.S S BANK PROPERTY,t Qt II4LI) () I. 1) fl %k 3I. 43j S St 4i 4 UUL 431 flul S S S ,1 1) S S S S kk 5 sss M S 29t, S S..5. t, S S , 5._ 5.,. s 5.555%, uu 4. S S 3u7 1)k ft I. S s, S I I s

53 EXHIBIT A lout SIRFk.1 flflo.k..s.s QI l IHI,U t.lir4.u Sill. OF I.( Ii tilj) I FL,i UL C ku I JO\ I BC H S1 k J 114 U OW 1 k I \l Is 101 * I i) l i LcYrs l XC H %MJ.I) W Uk, El.01% R 1111) I ill),..;. lift), IBli, I1i W14 )494 ii U I )f) 11 ) ii ) I *311