25B - AGMT - HISTORIC PROPERTY 2335 N PARK BLVD

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REQUEST FOR Historic Resources Commission Acfion HISTORIC RESOURCES COMMISSION NIEETM DATE: APRIL 5, 2012 yl?3q HISTORIC RESOURCES C.oNrV11SSION SECRETARY TITLE: HISTORIC PROPERTY PRESERVATION AGREEMENT NO. 2012-01 FOR THE PROPERTY LOCATED AT 2335 N. NORTH PARK BOULEVARD Prepared by Hally Soboleske Executive Director RECOMMENDED ACTION APPROVED ? As Recommended ? As Amended ? Set Public Hearing For CONTINUED TO K Mana r 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 Jose Louis Correa and Maria Ester Reynoso for the structure located at 2335 N. North Park Boulevard. DISCUSSION Request of Applicant The applicants, Jose Louis Correa and Maria Ester Reynoso, request the approval of Historic Property Preservation Agreement No. 2012-01 (Mills Act) between the applicants and the City of Santa Ana. Property Description The subject property includes a two-story residence and a detached two-car garage located at 2335 N. North Park Boulevard, and is within the Floral Park neighborhood (Exhibit 1). 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 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. X 25B-3