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REQUEST FOR Historic Resources Commission Action ~asrowc RESOURC~.4 COnMI~SION nnl~wG GATE: NOVEMBER 2, 2006 TITLE: HISTORIC PROPERTY PRESERVATION AGREEMENT NO. 2006-07 FOR THE PROPERTY LOCATED AT 902 SOUTH CYPRESS HISTORIC RESOURCES OOMMISSION SECRETARY APPROVED ^ As Recommended ^ As Amended ^ Set Public Hearing For CONTINUED TO Prepared by Hally Soboleske RECOMMI Recommend authorize agreement structure ' ~_ 1 Executive Director =NDED ACTION that the City the City Mana with Mark S. located at 902 DISCUSSION Request of Applicants Plannin Manager Council direct the City Attorney to prepare and ger and the Clerk of the Council to execute an and Julie D. Rivera, property owners, for the South Cypress Avenue. The applicants, Mark S. and Julie D. Rivera, property owners, request the approval of Historic Property Preservation Agreement No. 2006-07 (Mills Act) between the property owner and the City of Santa Ana. Property Description The subject property includes a one-story residence and a detached garage located at 902 South Cypress Avenue. The property is within the Eastside neighborhood and the 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. 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 25F-3 L