25N - HPPA 2408 N RIVERSIDE DR - Laserfiche WebLink

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REQUEST FOR Historic Resources Commission Action ^+7C~.:~. :.ate ::1f~, ~ruu~t_~- u~al-. !.1 NOVEMBER 6, 2008 TITLE: HISTORIC PROPERTY PRESERVATION AGREEMENT NO. 2008-28 FOR THE PROPERTY LOCATED AT 2408 NORTH RIVERSIDE DRIVE wsrowc ~souRCE.sc~onnnnrssioni sECx~ra~r APPROVED ^ As Recommended ^ As Amended ^ Set Public Hearing For CONTINUED TO Prepared by Hally Soboleske Executive Director RECOMMENDED ACTION Planning Man er Recommend that the City Council authorize the City Manager and Clerk of the Council to execute the attached agreement with Tony Michael and Debra L. Sherman for the structure located at 2408 North Riverside Drive, subject to non-substantive changes approved by the City Manager and City Attorney. DISCUSSION Request of Applicants The applicants, Tony of Historic Property between the property Property Description Michael and Debra L. Sherman, request the approval Preservation Agreement No. 2008-28 (Mills Act) owner and the City of Santa Ana. The subject property includes a single story English Revival House with detached garage located at 2408 North Riverside Drive (Exhibit 1) The property is within the Floral Park 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 25N-3