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Historic Property Preservation Agreements <br />April 17, 2018 <br />Page 2 <br />DISCUSSION <br />This action allows for the approval of a Historic Property Preservation Agreement (Mills Act <br />Contract) which provides a potential property tax reduction whereby property owners agree to <br />reinvest the tax savings towards the maintenance of the historic property (Exhibit A). <br />Additionally, the agreement prevents inappropriate alterations to the historic structures (Exhibits <br />B1 -B5). <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #5 - Community Health, Livability, <br />Engagement & Sustainability, Objective #2 (expand opportunities for conservation and <br />environmental sustainability) and Objective #3 (facilitate diverse housing opportunities and <br />support efforts to preserve and improve the livability of Santa Ana neighborhoods). <br />FISCAL IMPACT <br />The Historic Property Preservation Agreement will reduce the Property Tax revenue account <br />01102002-50011 to the City by an estimated $3,891.13 annually noted below, for a period of not <br />less than ten years. <br />HPPA No. <br />Address <br />Estimate <br />Exhibit No. <br />2017-39 <br />1718 North Flower Street <br />$819.96 <br />B1 <br />2017-40 <br />2208 North Greenleaf Street <br />$862.79 <br />B2 <br />2017-41 <br />919 North Lowell Street <br />$664.13 <br />B3 <br />2017-42 <br />2457 North Park Boulevard <br />$854.70 <br />B4 <br />2017-43 <br />2462 North Riverside Drive <br />$689.55 <br />B5 <br />Total for All Properties: <br />$3,891.13 <br />Candida Neal <br />Acting Executive Director <br />Planning & Building Agency <br />MM:rb <br />S:RFCA104-17-18\PBA Historic Prop Presewa8on Mills Act Agmt 417-18 <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />�ML lix X-3%7A�7 <br />Francisco Gutierrez Q -5A ) <br />Executive Director <br />Finance & Management Services Agency <br />Exhibits: A. Mills Act Agreement Template <br />B1 -B5. Historic Resources Commission Staff Reports <br />25A-2 <br />