To: Honorable Mayor and Members of City Council
From: Vincent Smith, Community Development Director
Prepared By: Michael Walker, Senior Planner
TITLE:
Title
Preservation of Qualified Historical Property at 608 Randolph Street
LABEL
RECOMMENDED ACTION:
Recommendation
Authorize the City Manager, on behalf of the City, to execute a Mills Act Historic Preservation Agreement with Lauren Ackerman for the property at 608 Randolph Street.
Body
DISCUSSION:
The City has received a request from Lauren Ackerman for approval of a Mills Act Contract for a Local Landmark property at 608 Randolph Street that has been 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 owner incurred in her efforts to restore and preserve the subject historic building and for ongoing preservation of the building. No new work requiring review of a Certificate of Appropriateness is proposed with this request. The full restoration plan is further described in the Project Description and the Restoration Plan attached hereto as Attachment 2 and Attachment 3, respectively.
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. The City is not obliged to enter into a contract even if the properties are eligible. The contract extends for an initial term of 10 years. It will a...
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