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<br />HPPA No. 2004-01 <br />April 1, 2004 <br />Page 2 <br /> <br />. One of the eligibility requirements for the Mills Act is that the <br />property must be listed on the Santa Ana Register of Historical <br />Properties. The subject property was placed on the local register and <br />categorized as Landmark in April 2003 by the Historic Resources <br />Commission (Exhibit 1). <br /> <br />Upon consideration of the application, it is recommended that the City <br />enter into a Historic Property Preservation Agreement (Exhibit 2). A <br />. review of the property indicates that this Italian Renaissance Revival <br />styled structure is in excellent condition. As a result, a supplemental <br />property rehabilitation plan will not be required as part of this <br />agreement. Photos of the property are included with the agreement as <br />well as a photo location map. The benefits of executing this agreement <br />include, but are not limited to, the following: <br /> <br />1. <br /> <br />Reduced property tax to allow <br />preservation of the property. <br /> <br />reinvestment <br /> <br />for <br /> <br />the <br /> <br />long-term <br /> <br />2. <br /> <br />Allows for a mechanism to provide for property rehabilitation. <br /> <br />3. <br /> <br />Provides an additional incentive for potential buyers to purchase <br />historic structures. <br /> <br />4. <br /> <br />Discourages inappropriate alterations to the historic property. <br /> <br />5. <br /> <br />Provides an opportunity for visual improvement to the physical <br />environment of the community. <br /> <br />6. <br /> <br />Offers additional support and attention for historic districts <br />and historic structures in the City. <br /> <br />CEQA Compliance <br /> <br />In accordance with the California Environmental Quality Act, the <br />recommended action is exempt from further review. A Notice of Exemption <br />will be filed for this project. <br /> <br />~l~ <br /> <br />Assistant Planner II <br /> <br />~~/);1aç'JI 1)( i?oJ;, <br /> <br />Maya DeRosa <br />Senior Planner <br /> <br />HS:JM <br />hs\reports\hppaO4-01 2028 victoria.hrc <br /> <br />25A-4 <br />