TO:
Honorable Mayor and Members of the City Council
THROUGH:
Bruce Moe, City Manager
FROM:
Anne McIntosh, Community Development Director
Laurie Jester, Planning Manager
Angelica Ochoa, Associate Planner
SUBJECT:Title
Consider Designating 2820 Highland Avenue as a Historic Landmark and Approving a Mills Act Contract (Community Development Director McIntosh).
ADOPT RESOLUTION NO. 19-0014
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Recommended Action
RECOMMENDATION:
Staff recommends that the City Council adopt Resolution No. 19-0014 designating 2820 Highland Avenue as a historic landmark and approving a Mills Act contract.
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FISCAL IMPLICATIONS:
If the Mills Act contract is approved for the subject property, a reduction of approximately $10,000 per year of property taxes is anticipated. The City's portion of this reduction is about 15% or $1,500 annually. However, the Los Angeles County Assessor (Assessor) will review, analyze, and determine the final calculation for property tax reduction to the property owner.
BACKGROUND:
On February 16, 2016, the City Council adopted amendments to the Zoning Code to revise the Historic Preservation regulations, Chapter 10.86, to designate historic landmarks throughout the City, with owner's consent. The Historic Preservation regulations are intended to identify buildings, structures, and sites that are of particular historic or cultural significance and define the City's heritage and historic development.
On March 20, 2018, the City Council adopted the Mills Act Program, Resolution No. 18-0034, and associated fees. A Mills Act Program provides property tax reductions to property owners who agree to invest in the preservation and rehabilitation of qualifying historic properties through a Preservation Agreement. The Preservation Agreement allows the owner to receive a reduction in property taxes in exchange for the property owner's commitment to repair, restore, rehabilitate, or otherwise...
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