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6.A. - Page 1 <br /> RE PO RT <br /> To the Honorable Mayor and City Council <br /> From the Cit Mana er <br /> December 9, 2013 <br /> SUBJECT <br /> Historic Landmark Designation and Historic Preservation Agreement for the Residence <br /> located at 1052 Edgewood Road <br /> RECOMMENDATION <br /> Hold a public and adopt Resolution approving Historic Landmark Designation of the <br /> Residence located at 1052 Edgewood Road and approving, and authorizing City <br /> Manager to execute a Historic Preservation Agreement. <br /> BACKGROUND <br /> The owners of 1052 Edgewood Road have requested that their home be designated as <br /> a Historic Landmark. <br /> An evaluation of the property was conducted by architectural historian Sheila McElroy to <br /> determine its eligibility for Landmark designation. Ms. McElroy meets professional <br /> qualifications established by the US Secretary of the Interior, and her evaluation was <br /> conducted according to the standards established by the California Department of Parks <br /> and the National Park Service. This analysis discusses the architecture of the property, <br /> its context, as well as the historical background of builders/residents/owners, as <br /> applicable, of the subject property. The evaluation concludes that 1052 Edgewood Road <br /> is eligible for designation as a local Landmark per Section 40.6 of Municipal Code. <br /> The owners have also requested to enter into a Historic Preservation Agreement (also <br /> known as a Mills Act Contract) with the City. <br /> Mills Act Contracts are a very effective historic preservation tool. Such agreements <br /> provide for yearly property tax savings for the owner in exchange for a commitment to <br /> maintain and improve the historic character of the property. This historic preservation <br /> program was adopted by the City Council in 1990. To date, out of approximately 100 <br /> known eligible properties, 17 Mills Act contracts have been granted by the City. <br /> The minimum duration for a Mills Act Contract is 10 years. Once granted a Mills Act <br /> Contract, a property owner saves approximately 40%-60% of the individual assessed <br /> tax valuation of the property. Since the City collects less than 20% of the 1% of the <br /> assessed value of the property, an estimated loss of revenue to the City for a property <br /> valuated at $1,000,000 would be approximately at $800 to $1,200 per year. In order to <br /> ensure compliance with the proposed program, staff and/or the Historic Resources <br />