What do I do with this guy? He's in that nasty area in between the street and sidewalk - 2nd year now that the top is dead. Chop / top the tree to remove the dead branches? Something else? I hear bad things about topping trees, so I wasn't sure - can I do it myself and wing it, or do I need someone smart to handle it?

I can't get rid of it entirely as the HOA will make me put another (expensive) one in. Is there hope for this one?