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<br />REQUEST FOR <br /> <br />Historic Resources Commission Action <br /> <br />~ RESOURCES COMMISSION MEET1IIG DATE: <br />APRIL 1, 2004 <br /> <br />~ <br />~ <br /> <br />HISTORIC RESOURCES COMMISSION SECRET MY <br /> <br />TITLE: <br />HISTORIC PROPERTY PRESERVATION <br />AGREEMENT NO. 2004-01 FOR THE PROPERTY <br />LOCATED AT 2028 NORTH VICTORIA DRIVE <br /> <br />APPROVED <br />0 As Recommended <br />0 As Amended <br />0 Set Public Hearing For <br /> <br />CONTINUED TO <br /> <br />Prepared by Hally Soboleske <br /> <br />4 ~2~irector <br /> <br />= ~",g" <br /> <br />RECOMMENDED ACTION <br /> <br />Recommend that the City Council direct the City Attorney to prepare and <br />authorize the City Manager and the Clerk of the Council to execute an <br />agreement with the Love Revocable Trust, Ron Love and Dianne E. Davis as <br />Trustees, for the structure located at 2028 North Victoria Drive. <br /> <br />eISCUSSION <br /> <br />Request of Applicant <br /> <br />The applicants, Mr. Ron Love and Ms. DianneE. Davis, Trustees for the <br />Love Revocable Trust, request the approval of Historic Property <br />Preservation Agreement No. 2004-01 (Mills Act) between the property <br />owners and the City of Santa Ana. <br /> <br />Property Description <br /> <br />The subject property includes a two-story residence and a detached, <br />single-car garage located at 2028 North Victoria Drive, and is within <br />the Floral Park neighborhood. Surrounding land uses are residential. <br /> <br />. Analysis of the Issues <br /> <br />In March 1999, the City Council approved an ordinance authorizing <br />Historic Property Preservation Agreements (HPPA) , commonly known as the <br />Mills Act contracts, for eligible historic properties. The agreement <br />provides monetary incentive to the property owner in the form of a <br />property tax reduction in exchange to the owner's voluntary commitment <br />.0 maintain the property in a good. state of repair and to rehabilitate <br />he property as necessary to maintain its character and appearance. <br />Once recorded, the agreement triggers the use of a different valuation <br />method in determining the property's assessed value, thereby resulting <br />in potentially significant property tax savings for the owner. <br /> <br />EXHIBIT ~5A-3 <br />