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Council reviews city‑owned lots, Builders of Hope update; staff asked to provide lot cost and ROI
Summary
Council received an update on Farmers Branch‑owned residential lots and partnership activity with Builders of Hope. Staff reported 5 lots were sold to Builders of Hope (three homes complete and sold; two near completion); council asked staff for a cost and return‑on‑investment analysis for remaining city parcels.
Council members on Feb. 10 received a briefing on city‑owned residential parcels (part of a neighborhood remediation program) and ongoing work with Builders of Hope to deliver attainable single‑family homes.
Perla Tavera, Director of Economic Development, Tourism and Planning, presented the inventory: the city holds roughly 20 remaining parcels in the Valwood area (separate from five lots already sold to Builders of Hope). Builders of Hope representatives said the first phase yielded three completed and sold homes; two additional homes (2629 Squire and 2560 Booker Ave.) were reported as near completion. James Armstrong, President and CEO of…
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