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HRCA No. 2025-02, HRC No. 2025-02, HPPA No. 2025-03— Freund House (1001 North <br />Olive Street) <br />June 4, 2025 <br />Page 6 <br />hearing, a notice was published in the Orange County Reporter and mailed notices were <br />sent to all property owners within 1,000 feet of the project site. At the time of this printing, <br />no correspondence, either written or electronic, has been received from any members of <br />the public. <br />ENVIRONMENTAL IMPACT <br />Pursuant to the California Environmental Quality Act (CEQA) and the CEQA Guidelines, <br />the project is exempt from further review pursuant to Section 15331 of the CEQA <br />Guidelines (Class 31 — Historical Resource Restoration/Rehabilitation) as these actions <br />are designed to preserve historic resources. Based on this analysis, a Notice of <br />Exemption, Environmental Review No. 2025-28, will be filed for this project. <br />FISCAL IMPACT <br />The Historic Property Preservation Agreement will reduce the Property Tax revenue <br />account 01102002-50011 to the City by an estimated $766.06 annually, for a period of <br />not less than ten years. <br />EXHIBITS <br />1. Resolution <br />2. Mills Act Agreement <br />3. 500-Foot Radius Map <br />4. Copy of Public Notice <br />Submitted By: James Williams, Contract Planner <br />Approved By: Ali Pezeshkpour, AICP, Acting Executive Director, Planning and Building <br />Agency <br />