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REQUEST FOR Historic Resources Commission Action ~ ~ HISTORIC RESOURCES COMMISSK)N MEE11'JG DATE: NOVEMBER 3, 2005 HISTORIC RESOURCES COMMISSION SECRETARY TITLE: HISTORIC PROPERTY PRESERVATION AGREEMENT NO. 2005-11 FOR THE PROPERTY LOCATED AT 2421 NORTH OAXMONT AVENUE APPROVED o As Recommended o As Amended o Set Public Hearing For CONTINUED TO Prepared by Hally Soboleske " ~~~ Recommend that the City Council direct the City Attorney to prepare and authorize the City Manager and the Clerk of the Council to execute an agreement with Brent Argo and James Maldonado for the structure located at 2421 North Oakmont Avenue. DISCUSSION Request of Applicant The applicants, Brent Argo and James Maldonado, request the approval of Historic Property Preservation Agreement No. 2005-11 (Mills Act) between the applicant and the City of Santa Ana. Property Description The subj ect property includes a single story residence and a detached two-car garage located at 2421 North Oakmont Avenue, and is within the Floral Park neighborhood. Surrounding land uses are residential. Analysis of the Issues In March 1999, the City Council approved an ordinance authorizing Historic Property Preservation Agreements (HPPA), commonly known as the Mills Act contracts, for eligible historic properties. The agreement provides monetary incentive to the property owner in the form of a property tax reduction in exchange to the owner's voluntary commitment to maintain the property in a good state of repair and to rehabilitate the property as necessary to maintain its character and appearance. Once recorded, the agreement triggers the use of a different valuation method in determining the property's assessed value, thereby resulting in potentially significant property tax savings for the owner. EXHIBIT A 25E-3