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<br />HPPA No. 2006-01 <br />July 6, 2006 <br />Page 2 <br /> <br />One of the eligibility requirements for the ills Act is that the <br />property must be listed on the Santa Ana egister of Historical <br />Properties. The subject property was placed on the local register and <br />categorized as Key in March 2006 by the Histo ic Resources Commission <br />(Exhibi t 1). <br /> <br />Upon consideration of the application, it is re ommended that the City <br />enter into a Historic Property Preservation Ag eement (Exhibit 2). A <br />review of the property indicates that this Tudor Revival styled <br />structure is in excellent condition. As a result, a supplemental <br />property rehabilitation plan will not be req ired as part of this <br />agreement. Photos of the property are include with the agreement as <br />well as a photo location map. The benefits of xecuting this agreement <br />include, but are not limited to, the following: <br /> <br /> <br />1. <br /> <br />Reduced property tax to allow <br />preservation of the property. <br /> <br />for the long-term <br /> <br />2. Allows for a mechanism to provide for proper y rehabilitation. <br /> <br />3. Provides an additional incentive for poten ial buyers to purchase <br />historic structures. <br /> <br />4. Discourages inappropriate alterations to the historic property. <br /> <br />5. Provides an opportunity for visual impro ement to the physical <br />environment of the community. <br /> <br />6. Offers additional support and attention for historic districts and <br />historic structures in the City. <br /> <br />CEQA Compliance <br /> <br />In accordance with the California Environme tal Quality Act, the <br />recommended action is exempt from further review. A Notice of Exemption <br />will be filed for this project. <br /> <br /> <br />oleske <br />e Planner <br /> <br />HS:jm <br />hs\historic info\mills act agreements\hppa06-01 2419~N_BonnieBrae.hrc <br /> <br />25A-4 <br /> <br />