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<br />HPP Agreement Nos. 2005-03 through 2005-06 <br />September 6, 2005 <br />Page 2 <br /> <br />potential property tax savings would encourage the owners to reinvest the <br />tax savings in the maintenance of their historic property, and would <br />benefit both the owner and the community (Exhibit A). Additionally, the <br />agreements prevent inappropriate alterations. <br /> <br />FISCAL IMPACT <br /> <br />The Historic Property Preservation Agreements will reduce the property <br />tax revenue to the City by an estimated $189.74 to $948.69, cumulatively <br />and annually, for a period of not less than ten years. <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br />~eVino <br />Ex utive Director <br />Panning & Building <br /> <br />Agency <br /> <br />~M\~~'l ~J ~ .%::OA ~ <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agenc:l~ <br /> <br />HS:rb <br />hS\historic info\08040SHRC\MillsActContracts.cc <br /> <br />25A-2 <br />