25A - AGMT - HISTORIC PRESERVATION 217 N BROADWAY

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REQUEST FOR ?. Historic Resources Commission Action HISTORIC RESOURCES CONMSION N EEt1NG DATE: JUNE 28, 2012 TITLE: HISTORIC PROPERTY PRESERVATION AGREEMENT NO. 2012-03 FOR THE PROPERTY LOCATED AT 217 NORTH BROADWAY HISTORIC RESOURCES COMMISSION SECRETARY APPROVED ? As Recommended ? As Amended ? Set Public Hearing For CONTINUED TO Prepared by Hally Soboleske Executive Director Planning t nager RECOMMENDED ACTION Recommend that the City Council authorize the City Manager and Clerk of the Council to execute the attached agreement with Corbiz, LLC property owner for the structure located at 217 North Broadway subject to non-substantive changes approved by the City Manager and City Attorney. DISCUSSION Request of Applicant The applicant, Corbiz, LLC, requests the approval of Historic Property Preservation Agreement No. 2012-03 (Mills Act) between the applicant and the City of Santa Ana. Property Description The subject property includes a single story arcade style commercial building, and is within the Downtown SD-84 zone (Exhibit 1). Surrounding land uses are all commercial with an asphalt parking lot adjacent to the east. 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. EXHIBIT A 25A-3