Property Owners Ready for Historic Designations
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The owners of 10 historic buildings, among 202 listed in the city, plan to enter preservation agreements that will cut their property taxes by 40% to 70%.
The design review subcommittee of the Planning Commission is recommending that the City Council approve these first agreements today. The city will process no more than 15 applications every year.
In October, the city approved the preservation ordinance, known statewide as the Mills Act, as an incentive to protect the city’s heritage.
Improvements need to be made within the next 10 years to five of the first 10 properties signing agreements or owners pay a fine assessed at 12.5% of the market value of their building.
The meeting will be at 7 p.m., 100 Avenida Presidio.
Information: (714) 361-8200.
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