25H - HPPA NO 2007-14 - Laserfiche WebLink

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REQUEST FOR Historic Resources Commission Action HSTORIC RESOURCESCOMIIIISSION SECRETARY APPROVED o As Recommended o As Amended o Set Public Hearing For HSTORIC RESOURCES COM\.tSSION I\IEE1"N3 DAlE: NOVEMBER 1, 2007 TITLE: HISTORIC PROPERTY PRESERVATION AGREEMENT NO. 2007-14 FOR THE PROPERTY LOCATED AT 2371 NORTH RIVERSIDE DRIVE CONTINUED TO Prepared by Hally Soboleske c-1~ 'L/,,---- \ ) Executive Director ~QM~ Planning Ma@ger RECOMMENDED ACTION 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 Ramin and Jennifer Faiz as Trustees for the structure located at 2371 North Riverside Drive. DISCUSSION Request of Applicant The applicants, Ramin and Jennifer Faiz, Historic Property Preservation Agreement No. the applicants and the City of Santa Ana. request the approval of 2007-14 (Mills Act) between Property Description The subject property includes a one and half-story residence and a detached two-car garage located at 2371 North Riverside Drive, and is within the Floral Park neighborhood. Surrounding land uses are residential (Exhibit 1). 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. ~~~T_~