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REQUEST FOR Historic Resources Commission Action OCTOBER 7, 2010 TITLE: HISTORIC PROPERTY PRESERVATION AGREEMENT NO. 2010 -10 FOR THE PROPERTY LOCATED AT 2127 NORTH GREENLEAF STREET Prepared by Hally Soboleske rr APPROVED ❑ As Recommended ❑ As Amended ❑ Set Public Hearing For CONTINUED TO Executive Director Planning Mana46r RECOMMENDED ACTION Recommend that the City Council authorize the City Manager and Clerk of the Council to execute the attached agreement with Melvin and Catherine Ladd, property owners, for the structure located at 2127 North Greenleaf Street subject to non - substantive changes approved by the City Manager and City Attorney. DISCUSSION Request of Applicant The applicants, Melvin and Catherine Ladd, request the approval of Historic Property Preservation Agreement No. 2010 -10 (Mills Act) between the property owner and the City of Santa Ana. Property Description The subject property includes a Tudor Revival styled residence located at 2127 North Greenleaf Street 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 for 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. i W_:S]