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REQUEST FOR APRIL 1, 2010 TITLE: HISTORIC PROPERTY PRESERVATION AGREEMENT NO. 2010 -04 FOR THE PROPERTY LOCATED AT 2323 NORTH BONNIE BRAE Prepared by Hally Soboleske • 3. • • ra, r• T_A r APPROVED ❑ As Recommended ❑ As Amended ❑ Set Public Hearing For CONTINUED TO Z?kc. Executive Director Planning Manager RECOMMENDED ACTION Recommend that the City Council authorize the City Manager and Clerk of the Council to execute the attached agreement with Jorge and Miriam Galindo, property owners, for the structure located . at 2323 North Bonnie Brae subject to non - substantive changes approved by the City Manager and City Attorney. DISCUSSION Request of Applicant The applicants, Jorge and Miriam Galindo, request the approval of Historic Property Preservation Agreement No. 2010 -04 (Mills Act) between the property owner and the City of Santa Ana. Property Description The subject property includes a Spanish Colonial Revival styled residence and garage located at 2323 North Bonnie Brae and is within the Floral Park Neighborhood. Surrounding land uses are all residential (Exhibit 1). Analysis of the Issues In March 1999, the City Council approved an ordinance authorizing Historic Property Preservation Agreements (HPPA), commonly known as the Mills Act contracts, for eligible historic properties. The agreement provides monetary incentive to the property owner in the form of a property tax reduction in exchange to the owner's voluntary commitment to maintain the property in a good state of repair and to rehabilitate the property as necessary to maintain its character and appearance. Once recorded, the agreement triggers the use of a different valuation method in determining the property's assessed value, thereby resulting in potentially significant property tax savings for the owner. EXHIBIT A 2501-3