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8.B. - Page 5 of 66 <br />FISCAL IMPACT <br />Designation of a local historic landmark has no fiscal impact. However, approval of a Historic Preservation <br />Agreement (Mills Act Contract) does reduce the annual property tax collected by the City. The fiscal impact <br />is minimal and acts as an incentive to maintain and improve the City's aging housing stock. <br />ENVIRONMENTAL REVIEW <br />The projects are categorically exempt from the requirements of CEQA per Section 15308, Class 8 (Actions <br />by Regulatory Agencies for Protection of the Environment), and Section 15331 Class 31 (Historical <br />Resource Restoration/Rehabilitation). The Mills Act contracts will ensure the maintenance, restoration, <br />enhancement, and protection of the environment (which includes historical resources), and because the <br />maintenance and preservation work carried out is required to be consistent with the Secretary of the <br />Interior's Standards for the Treatment of Historic Properties <br />PUBLIC NOTICE <br />A public hearing notice for the subject property and was placed in the San Mateo Daily Journal on October <br />23, 2020 and sent to the owner/applicant in compliance with the Historic Preservation Ordinance. <br />ALTERNATIVES <br />1. Amend the 10 -Year Maintenance Plan <br />2. Deny the Landmark Request and Mills Act Contract <br />ATTACHMENTS <br />Attachment A — Draft resolution <br />Attachment B — 970 Edgewood Road Mills Act Contract <br />Attachment C — Historic Evaluation Report for 970 Edgewood Road <br />Attachment D — GIS Map <br />REPORT PREPARED BY: <br />Sam Hughes, Assistant Planner <br />shughes@redwoodcity.org <br />(650) 780-7382 <br />Page 5 of 6 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />463 <br />