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REQUEST FOR <br />Historic Resources Commission Action <br />HUrORICRESOURCESCONNISSIONNEE MDATE: <br />OCTOBER 2, 2014 <br />TITLE: <br />HISTORIC PROPERTY PRESERVATION <br />AGREEMENT NO. 2014-09 FOR THE PROPERTY <br />LOCATED AT 207 NORTH BROADWAY <br />(STRATEGIC PLAN NOS. 5, 2; 5, 3) <br />Prepared by Hilly Soboieske <br />)�K_ <br />Interim Exec hive irector <br />RECOMMENDED ACTION <br />APPROVED <br />• As Recommended <br />• As Amended <br />❑ Set Public Hearing For <br />CONTINUED TO <br />a,- �2c <br />Acting P nning anager <br />Recommend that the City Council authorize the City Manager and Clerk of the Council to execute <br />the attached agreement with Jack Jakosky on behalf of Santora Building LLC and KET Glenoaks <br />LLC, property owners, for the structure located at 207 North Broadway, subject to non - substantive <br />changes approved by the City Manager and City Attorney. <br />Request of Applicant <br />The applicant, Jack Jakosky, is requesting approval of Historic Property Preservation Agreement <br />No. 2014 -09 (Mills Act) between the property owner and the City of Santa Ana. <br />Property Description <br />The subject property consists of a two -story commercial building designed in a Mission /Spanish <br />Colonial Revival style with Churrigueresque details located at 207 North Broadway. The site is <br />within the Specific Development No. 84 (SD -84) zoning district. Surrounding land uses are <br />commercial (Exhibit 1). <br />Analysis of the Issues <br />In March 1999, the City Council approved an ordinance authorizing Historic Property Preservation <br />Agreements (HPPA), commonly known as Mills Act contracts, for eligible historic properties. The <br />agreement provides monetary incentive to the property owner in the form of a property tax <br />reduction in exchange for the owner's voluntary commitment to maintain the property in a good <br />state of repair and to rehabilitate the property as necessary to maintain its character and <br />appearance. Once recorded, the agreement triggers the use of a different valuation method in <br />determining the property's assessed value, thereby resulting in potentially significant property tax <br />savings for the owner. <br />EXHIBIT A <br />25C -3 <br />