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and provide for adaptive reuse while preserving the building's historic features, to <br />use affordable housing credits to help low- income tenants with housing costs, <br />and incentivize existing property owners in historic districts to rehabilitate their <br />properties; and <br />WHEREAS, similar incentives are used in more than 30 states to pay for <br />initial rehabilitation costs; and <br />WHEREAS, the California program would be a powerful tool to assist <br />economically depressed urban areas with continued economic development in <br />light of diminishing redevelopment dollars, while stimulating public and private <br />investment, and celebrating and preserving California's heritage; <br />WHEREAS, the Assembly Bill is supported by the California Preservation <br />foundation, California Chapter of the American Institute of Architects, leading <br />preservation organizations, property owners, developers, affordable housing <br />advocates and builders; <br />WHEREAS, there are over 600 historic properties in Santa Ana, <br />California, including individual historic properties on the City's Historical Register, <br />and those within the three national register historic districts that could benefit <br />greatly from these incentives; <br />NOW, THEREFORE, BE IT RESOLVED, <br />Section 1. The City Council of the City of Santa Ana hereby proclaims its support <br />for the passage of AB 1999, the California Economic Development and Historic <br />Preservation Tax Credit Act. <br />Section 2. This Resolution shall take effect immediately upon its adoption by the <br />City Council, and the Clerk of the Council shall attest to and certify the vote <br />adopting this Resolution. <br />ADOPTED this 2 "d day of Septemb( <br />Resolution No. 2014 -052 <br />Page 2 of 4 <br />