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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />SEPTEMBER 2, 2014 <br />TITLE: <br />RESOLUTION URGING THE GOVERNOR <br />TO SIGN ASSEMBLY BILL 1999 (ATKINS), <br />THE CALIFORNIA ECONOMIC <br />DEVELOPMENT AND HISTORIC <br />PRESERVATION TAX CREDIT ACT <br />CITY I ANAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1 ' Reading <br />❑ Ordinance on 2 n Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution urging the Governor of the State of California to sign Assembly Bill 1999 <br />(Atkins), which would create an income tax credit for the preservation and reinvestment into historic <br />properties throughout the State. <br />DISCUSSION <br />AB 1999 will grant necessary tax credits that will allow for a community reinvestment program <br />resulting in the creation of jobs, improvement of the economy and incentives for communities to <br />invest in the restoration and rehabilitation of their historic buildings. Historic rehabilitation tax <br />credits will spur private and public investment in historic buildings and will generate much needed <br />construction jobs. Revitalizing historic buildings is an investment to the state as it will attract new <br />businesses, visitors and will stimulate retail sales through income from jobs, sales tax, property <br />taxes and income taxes. <br />Historic preservation is important as it allows residents and visitors to experience the cultural, <br />educational, social value of the City's history. The City of Santa Ana has a rich and diverse set of <br />heritage properties that represent different themes during the development of the community and <br />staff believes this important bill will give the City the tools necessary to continue to preserve these <br />historic and treasured dwellings. <br />STRATEGIC PLAN <br />Approval of this item allows the City to meet Goal #3 Economic Development, Objective #3, <br />Promote a solutions -based customer focus in all efforts to facilitate development and investment in <br />the community, Strategy C, Explore opportunities to encourage a business friendly environment <br />within the city through the reduction of non - essential regulatory requirements, improved <br />coordination between agencies for development review and addition of monetary incentives. <br />FISCAL IMPACT <br />There is no fiscal impact associated with the adoption of the proposed Resolution. <br />55C -1 <br />