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�4 <br />REQUEST FOR <br />J a 00MY11ISSION SI IIT I ICI 101E <br />JULY 23, 2015 <br />TITLE <br />HISTORIC PROPERTY PRESERVATION <br />AGREEMENT NO. 2015 -06 FOR THE PROPERTY <br />LOCATED AT 322 WEST THIRD STREET <br />{STRATEGIC PLAN NOS. 5, 2; 5,3) <br />Prepared by _tally Soboleske <br />APPROVED <br />• As Recommended <br />• As Amended <br />• Set Public Hearing For <br />CONTINUED TO <br />Ex utive Director Acting Plann4ktansger <br />RECOMMENDED ACTION <br />Recommend that the City Council authorize the City Manager and Clerk of the Council to execute <br />the attached agreement with Phil Calhoun and Ron Stock as members of Beta Holdings, LLC, <br />property owners, for the structure located at 322 West Third Street, subject to non - substantive <br />changes approved by the City Manager and City Attorney. <br />Request of Applicant <br />The applicants, Phil Calhoun and Ron Stock as members of Beta Holdings, LLC, are requesting <br />the approval of Historic Property Preservation Agreement No. 2015 -06 (Mills Act) between the <br />property owners and the City of Santa Ana. <br />Property Description <br />The subject property consists of a two -story, 3,483 square foot Italianate style structure and a <br />detached two -story decorative water tower located at 322 West Third Street. The structure has <br />been used as an office since 1982. The 13,565 square foot site is within the Transit Zoning Code <br />(SD -84) zoning district. Surrounding land uses are commercial to the north, residential on the <br />south, and commercial to the east with residential uses on the upper floors to the east, and Birch <br />Park to the west (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 B2 <br />r o ., <br />