25C - AGMT - HISTORIC PROPERTY 207 W SECOND ST

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REQUEST FOR Historic Resources Commission Action HISTORIC RESOURCES comma SION NEETMIG DATE: APRIL 5, 2012 HISTORIC RESOURCES COMMISSION SECRETARY TITLE: HISTORIC PROPERTY PRESERVATION AGREEMENT NO. 2012-02 FOR THE PROPERTY LOCATED AT 207 WEST SECOND STREET Prepared by Hally Soboleske APPROVED 0 As Recommended O As Amended O Set Public Hearing For CONTINUED TO Executive Director Planning Manager 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 Corbiz, LLC for the structure located at 207 West Second Street. DISCUSSION Request of Applicant The applicant, Corbiz, LLC, requests the approval of Historic Property Preservation Agreement No. 2012-02 (Mills Act) between the applicant and the City of Santa Ana. Property Description The subject property includes a two-story commercial building, and is within the Downtown SD-84 zone (Exhibit 1). Surrounding land uses are all commercial, with a vacant lot adjacent to the east, and loft residential on the opposite side of Sycamore Street. 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. E 25C-3