Denison wants to continue a program that has added more than $4 million dollars to its tax value. The housing renovation program was renewed earlier this month during a City Council meeting.
Denison City Manager Jud Rex said the program has been deemed successful to the city and the program has done a good job of helping with revitalizing older parts of town.
“The program provides incentives for the remodeling of residential property,” Rex said. “The city has a lot of older housing stock. We want to provide a way to remodel those single-family homes. We created a program to do it. This was an extension of the renovation incentive program we started two years ago. We’re trying to create great quality of life and great neighborhoods. This helps bring new life to our old neighborhoods.”
The housing incentive program focuses on sprucing up neighborhoods with other programs concentrating on attracting new businesses to the city.
There have been 75 properties that applied for the incentive, adding $4.4 million dollars to the city’s property values to date. The program was renewed through Sept. 31, 2021 with the option to repeal.
The City Council approved the measure as part of the consent agenda. In a document provided to the council from city staff, the city recognizes the program stimulates economic activity in carpentry, construction and related fields by encouraging economic activity and growth in the city while attracting new businesses investments to the area.
The incentives include reduced building permit fees and fees for trash containers.
The city also provides a cash incentive for the property values. If a property increases in value, the city will provide a cash incentive equal to 10 percent of that increase. There is a minimum of $40,000 worth of work required to qualify for the program.
The city also abates the sales tax one construction materials purchased in city limits.
What do you think of the city providing incentives to remodel older homes? Let Denison area reporter Richard A. Todd know by sending email to firstname.lastname@example.org. Also follow him on Facebook and Twitter @RichardAToddHD.