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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JULY 16, 2012 <br />TITLE: <br />HISTORIC PROPERTY PRESERVATION <br />AGREEMENT NO. 2012-03 FOR THE <br />PROPERTY LOCATED AT 217 NORTH <br />BROADWAY <br />CITY MANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />? As Recommended <br />? As Amended <br />? Ordinance on 1st Reading <br />? Ordinance on 2nd Reading <br />? Implementing Resolution <br />? Set Public Hearing For_ <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Manager and Clerk of the Council to execute the attached agreement with <br />Corbiz, LLC, property owner, for the structure located at 217 North Broadway, subject to non- <br />substantive changes approved by the City Manager and City Attorney. <br />HISTORIC RESOURCES COMMISSION ACTION <br />Recommended that the City Council authorize the City Manager and Clerk of the Council to <br />execute the attached agreement with Corbiz, LLC, property owner, for the structure located at <br />217 North Broadway, subject to non-substantive changes approved by the City Manager and City <br />Attorney at its June 28, 2012 meeting by a vote of 7:0 (Morfin absent). <br />DISCUSSION <br />After the public hearing on June 28, 2012, the Historic Resources Commission reviewed the <br />proposed Historic Property Preservation Agreement (Mills Act Contract) and concluded that the <br />resulting potential property tax savings would encourage the owner to reinvest the tax savings in <br />the maintenance of their historic property, and would benefit both the owner and the community <br />(Exhibit A). Additionally, the agreement prevents inappropriate alterations. <br />FISCAL IMPACT <br />The Historic Property Preservation Agreement will reduce the property tax revenue to the City by <br />an estimated $91.13 to $455.65 annually, for a period of not less than ten years. <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Jay 'M. Trevino Francisco Gutierrez" <br />Executive Director Executive Director <br />Planning & Building Agency Finance & Management Services Agency <br />HS:rb <br />hs\historic info\mills act agreements\217_N_Broadway\hppa1 2-03_21 7N Broadway. cc <br />Exhibit: A. Historic Resources Commission Staff Report <br />25A-1