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Approval of Historic Property Preservation Agreements <br />October 18, 2022 <br />Page 2 <br />DISCUSSION <br />On September 8, 2022, the Historic Resources Commission (HRC) recommended that <br />the City Council authorize the City Manager to execute the above -referenced Mills Act <br />agreements with the identified property owners for historic structure(s) in the city, subject <br />to non -substantive changes approved by the City Manager and City Attorney. This action <br />allows for the approval of a Historic Property Preservation Agreement (Mills Act Contract) <br />which provides a property tax reduction whereby property owners agree to reinvest the <br />tax savings towards the maintenance of the historic property. Additionally, the agreement <br />prevents inappropriate alterations to the protected historic structure(s). <br />ENVIRONMENTAL IMPACT <br />In accordance with the California Environmental Quality Act, the proposed projects are <br />exempt from further review. The following Categorical Exemptions will be filed for this <br />project: <br />• ER No. 2022-45 (2405 N Bonnie Brae) <br />• ER No. 2022-79 (1802 N Ross Street) <br />• ER No. 2022-80 (1128 W Riviera Drive) <br />• ER No. 2022-81 (1720 N Olive Street) <br />• ER No. 2022-82 (2222 N Ross Street) <br />• ER No. 2022-83 (2425 N Valencia Street) <br />• ER No. 2022-84 (419 E Wellington Avenue) <br />FISCAL IMPACT <br />The Historic Property Preservation Agreement will reduce the Property Tax revenue <br />account 01102002-50011 to the City by an estimated $7,251.58 annually noted below, <br />for a period of not less than ten years. <br />HPPA No. <br />Address <br />Estimate <br />Exhibit No. <br />2022-03 <br />2405 N Bonnie Brae <br />$1,042.18 <br />1-2 <br />2022-05 <br />419 E Wellington Avenue <br />$908.99 <br />3-4 <br />2022-13 <br />2222 N Ross Street <br />$874.16 <br />5-6 <br />2022-14 <br />1720 N Olive Street <br />$913.89 <br />7-8 <br />2022-15 <br />1802 N Ross Street <br />$1,120.35 <br />9-10 <br />2022-16 <br />1128 W Riviera Drive <br />$1,179.26 <br />11-12 <br />2022-17 <br />2425 N Valencia Street <br />$1,212.75 <br />13-14 <br />Total for All Properties: <br />$7,251.58 <br />EXHIBIT(S) <br />1. Mills Act Agreement — 2405 N Bonnie Brae <br />2. HRC Staff Report — 2405 N Bonnie Brae <br />3. Mills Act Agreement — 419 E Wellington Avenue <br />4. HRC Staff Report — 419 E Wellington Avenue <br />5. Mills Act Agreement — 2222 N Ross Street <br />6. HRC Staff Report— 2222 N Ross Street <br />City Council 18 — 2 10/18/2022 <br />