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Approval of Historic Property Preservation Agreement <br />January 16, 2024 <br />Page 2 <br />subject to non -substantive changes approved by the City Manager and City Attorney: <br />Historic Preservation Agreement Number 2023-10 and 2023-11. This action allows for <br />the approval of a Historic Property Preservation Agreement (Mills Act Contract) which <br />provides a property tax reduction whereby property owners agree to reinvest the tax <br />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. 2023-105 (2028 North Greenleaf Street) <br />• ER No. 2023-107(1607 North Freeman Street) <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 $1,746.94 annually noted below, <br />for a period of not less than ten years. <br />HPPA No. <br />Address <br />Estimate <br />Exhibit No. <br />2023-105 <br />2028 North Greenleaf Street <br />$776.74 <br />1-2 <br />2023-107 <br />1607 North Freeman Street <br />$970.20 <br />3-4 <br />Total for All Properties: <br />$1,746.94 <br />EXHIBIT(S) <br />1. Mills Act Agreement — 2028 North Greenleaf Street <br />2. HRC Staff Report — 2028 North Greenleaf Street <br />3. Mills Act Agreement — 1607 North Freeman Street <br />4. HRC Staff Report — 1607 North Freeman Street <br />Submitted By: Minh Thai, Executive Director of Planning and Building Agency <br />Approved By: Tom Hatch, Interim City Manager <br />City Council 22 — 2 1/16/2024 <br />