To: Honorable Mayor and Members of City Council
From: Lark Ferrell, Acting Community Development Director
Prepared By: Michael Walker, Senior Planner
TITLE:
Title
Preservation of Qualified Historical Property at 492 Randolph Street
LABEL
RECOMMENDED ACTION:
Recommendation
Authorize the City Manager, on behalf of the City, to execute the Mills Act Historic Preservation Agreement for the George E. Goodman, Jr. House (Theodorides Residence) at 492 Randolph Street.
Body
DISCUSSION:
BACKGROUND
The City has received a request for approval of a Mills Act Contract on a property that is being restored. The Mills Act Contract is being requested for the purpose of obtaining financial resources to help off-set the cost of repairs that the owners incurred in their efforts to restore and preserve the subject historic building and for ongoing preservation of the building. Any restoration work requiring a Certificate of Appropriateness will be submitted and reviewed separate from this request. The full restoration plan is further described in the Applicant's Plans and Supporting Documents (see Attachment 2).
MILLS ACT CONTRACT OVERVIEW
Mills Act: The Mills Act was adopted by the State legislature in 1972. The Mills Act provides a means for an owner to reduce property taxes on a historic property in exchange for an agreement with a local government entity that the owners maintain the property's historic character. The purpose is to encourage the renovation and maintenance of historic properties throughout the State by providing a tax incentive. It is similar to the Williamson Act, which encourages the preservation of agricultural land in return for a lower property tax rate.
The Mills Act enables local governments to enter into a voluntary contract with owners of historic properties. In order for a property to be eligible, it must be listed on the National Register of Historic Places, be listed on the California Register of Historic Places, or be listed on a local...
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