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Historic Property Preservation Agreements <br />June 19, 2018 <br />Page 2 <br />DISCUSSION <br />This action allows for the approval of a Historic Property Preservation Agreement (Mills Act <br />Contract) which provides a potential property tax reduction whereby property owners agree to <br />reinvest the tax savings towards the maintenance of the historic property (Exhibit A). <br />Additionally, the agreement prevents inappropriate alterations to the historic structures (Exhibits <br />B1 -B4). <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #5 - Community Health, Livability, <br />Engagement & Sustainability, Objective #2 (expand opportunities for conservation and <br />environmental sustainability) and Objective #3 (facilitate diverse housing opportunities and <br />support efforts to preserve and improve the livability of Santa Ana neighborhoods). <br />FISCAL IMPACT <br />The Historic Property Preservation Agreement will reduce the Property Tax revenue account <br />01102002-50011 to the City by an estimated $3,392.28 annually noted below, for a period of not <br />less than ten years. <br />$PFforAll <br />Address <br />Estimate <br />Exhibit No. <br />2011110 <br />West Sixteenth Street <br />$420.62 <br />B1 <br />2011615 <br />North Freeman Lane <br />$652.28 <br />B2 <br />2011815 <br />North Heliotro a Drive <br />$1,562.85 <br />B3 <br />2012377 <br />North Flower Street <br />$756.53 <br />B4 <br />Total Properties: <br />$3,392.28 <br />Minh Thai <br />Executive Director <br />Planning and Building Agency <br />MM:rb <br />S:RFCA\06-19.18\PBA Historic Prop Preservation Mills Act A9mt 6-19-18 <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Francisco Gutierrez (25A <br />Executive Director <br />Finance and Management Services Agency <br />Exhibits: A. Mills Act Agreement Template <br />B1 -B4. Historic Resources Commission Staff Reports <br />25A-2 <br />