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MILLS ACT CONTRACT <br />Annual property tax savings and money saved put back into the <br />long term maintenance of historic property <br />The property must be on a local, state, or national register of <br />historic places <br />Minimum ofa 10 -year contract <br />Redwood City program established in 1990: 29 contracts <br />approved <br />Initial 10 -year schedule of property maintenance and <br />improvements <br />■ <br />