HomeMy WebLinkAbout2018-11-26 1056 email tapp1
Minyard, Brian
From:Tapp, Doug
Sent:Monday, November 26, 2018 10:56 AM
To:Minyard, Brian
Subject:RE: Emailing: 2018-11-05 1036 email on title list
Commerce has no roof, the interior may new all new framing although I just viewed it from a window. The LB might
agree to boarding the structures and holding on to them for a certain time period before having them razed if we can't
find a buyer to remodel.
Doug Tapp
Redevelopment Administrator
City of Little Rock Land Bank
501-371-4848
-----Original Message-----
From: Minyard, Brian
Sent: Monday, November 26, 2018 10:53 AM
To: Tapp, Doug <dtapp@littlerock.gov>
Subject: RE: Emailing: 2018-11-05 1036 email on title list
The end game for me is to have a person buy the properties and rehab them.
Brian
-----Original Message-----
From: Tapp, Doug
Sent: Monday, November 26, 2018 10:51 AM
To: Minyard, Brian
Subject: RE: Emailing: 2018-11-05 1036 email on title list
Correct, the land bank can accept unoccupied properties.
I believe the Commission would accept these 2 properties but we'd have to demo them both. Both should probably be
red tagged as unsafe and vacant but I didn't see tags on them. If the Land Bank razed the properties the LB would then
clean and maintain the lots until a buyer is found. Commerce is beyond repair and Park Ln. would need extensive
rehabilitation, and may be beyond the scope of work the LB/City could take on.
Doug Tapp
Redevelopment Administrator
City of Little Rock Land Bank
501-371-4848
-----Original Message-----
From: Minyard, Brian
Sent: Monday, November 26, 2018 10:24 AM
2
To: Tapp, Doug <dtapp@littlerock.gov>
Subject: RE: Emailing: 2018-11-05 1036 email on title list
One factor that you may not have is that these two buildings would be eligible for the 25% state income tax credit and
the 20% federal income tax credit. That will change the bottom line on these structures.
Any other pros and cons? Please verify that if placed in the Landbank, a property does not have to be owner occupied.
Brian
-----Original Message-----
From: Tapp, Doug
Sent: Monday, November 26, 2018 9:48 AM
To: Minyard, Brian
Subject: RE: Emailing: 2018-11-05 1036 email on title list
I'm gonna go look at them this morning to see about the possibility of rehabilitation.
A pro would be they can write off the appraised value of the property on their taxes and we could probably get any city
liens waived if they come to the land bank.
A con might be demolition costs if they cost more to rehab than building a new structure.
Doug Tapp
Redevelopment Administrator
City of Little Rock Land Bank
501-371-4848
-----Original Message-----
From: Minyard, Brian
Sent: Monday, November 26, 2018 9:31 AM
To: Tapp, Doug <dtapp@littlerock.gov>
Subject: RE: Emailing: 2018-11-05 1036 email on title list
Doug, I will need to get my staff report done this week for the December 10th meeting. please elaborate on the pros
and cons so that I may include this as an option for demolition.
Brian
-----Original Message-----
From: Minyard, Brian
Sent: Tuesday, November 20, 2018 9:49 AM
To: Tapp, Doug
Subject: Emailing: 2018-11-05 1036 email on title list
Here are the addresses. If the Landbank would accept these, with the intent to sell (not city rehab), that would be an
option. I have a couple of people that have expressed interest in buying these houses to rehab. The ultimate goal is to
rehab the houses, it is the path there that is tricky.
Please give me something that lists the pros and cons of having these donated to the Landbank.
3
Brian