Loading...
SR-6F (45)~esc:lcrflc~ ~2f7 C~es) - ~~a~~:~~~~ ccs : ~ ~ ~r 2 ~ ~~~~ PCD SF KG AS DJ f Iplanlsharelcouncillstrptlmillsact #1 Council Mtg No~ember 25, 1997 Santa Monica, California TO Mayor and City Counal FROM C~ty Staff SUBJEGT Recommendation to authorize the City Manager to Negatiate and Execute a Mil€s Act H~stor~cal Property Contract between t~e City of Santa Monica and the Property Owner of the Second Roy Jones House, a C~ty Landmark, Located at 13Q Adela~de Drive Applicant Robert I Weinstein INTR~DUCTI~N This report recornmends that th~ Cjty Council adopt a resoiution and authorize the City Manager to negotiate and execute a Mills Act H~storical Property Contract between the City af Santa Monica and the proper#y owner of the Second Roy Jones House, a designated City landmark located at 130 Adelaide Dri~e The Milis Act is a state law that enabtes local go~ernments ta enter rnta cvntracts with owners of qualrfied historrc properties to authanze a property tax ~eduction This is the first Mills Act contract to be considered by the City The proposed resolution is contained in Attachment A and the Milis Act application is contained in Attachment B BACKGROUND ~n 1991, as part af a comprehensive revision to the City's Landmarks Ord~nance, the City Counal authorized designated structures af inerit, landmarks, and contributing sfructures located in designated h~staric districts to be cansidered "qualified historical t~~~J 2 5 1~~7 -1- ~ ~. properties" eligible for histor~cal property cantracts submitted pursuant to the pro~isions of Cal~fornia Ga~ernment Code Sections 50280-50290 As a result, property owners of such designated historic properties may file a Mills Act Contract Application Once appro~ed, a Mills Act contract rec~uires the County Tax Assessor's office to determine the ~alue of the historic property based upon its current net operatir~g income, rather than upon the traditional assessed ~aluation method, resulting in a property tax reducfion ~pr structures that are owner occu~ied, the net operating incame is determined by the income the property woufd produce if rer~ted In exchange for the property tax reduction, the owner agrees to protect, maintain and, if necessary, restore the his~oric property Under the traditianal method af determining property taxes, praperties are reassessed when sold Howe~er. since Mifis Act contracts run with the property, subsequent owners may realize greater tax benefits. as the assessed property ~alue typically mcreases when property is sold, resu[ting in an eWen greater difference between the property taxes under the assessed ~alua#ion methad ~ersus the property tax calculation perm~tted by the Mills Act contract This can be a significant marketing feature for the property in terms of future sales and is considered an important histonc preser~atian ~ncenti~e because the property will be mamtained The initial Mills Act contract term rs #en years Howe~er, each year on the anniversary - G - of the contract's effecti~e date, an additional year is added to the contract term unless the property owner or the Gity submits a notice of non-renewaf to fhe other pa~ty in a timely ma~ner Effect~vely, t~e actua! term of the contract ~s at leas~ ten years, but may be indefinite, as it is autamatically annually renewed ANALYSIS The property owner of 130 Adela~de Dri~e has requested to enter Ento a Mills Act contract to offset the cost of normal maintenance and repairs The structure underwent a substant~af rehabi~itatian after suffering ma~or damage in the 1994 Nor~F~ricige eartnquake S~nce tne home has been fully restored, the Mi!!s Act car~tract sav~ngs would be used for continued maintenance, upgrade af build~ng details which are ir~tegral to the property's historic integrity, includmg paint~ng. roofing, and repairs to gutters, doors, windows, and architectural features, and some interior wark The ma+ntenance plan for this property is included ~n the Mills Act application and wi!! be mcarporated into the Mifls Act cantract The maintenance plan proWides a ljst of the projects to be completed by the property owner durrng the mrtral ten year contract term ln addition. the application provides an estimate of the property owner's tax sa~ings as well as an es#imate of the City's annual costs due to the property tax reduction SEnce this estimate Es based on financial data subm~tted by the applicant, the County Ass~ssor will venfy the calculation pnor to the final tax assessment By exec~ting the - 3 - contract, the Cjty daes not carroborate the applicant's submitted financial statement, but authorizes tax abatemen# for the property LANDMARKS COMMISSION REVIEW The Landmarks Comm~ssion re~iewed this request at its October 1~, 1997 meeting and d~rected Staff tfl forward a recommendation to the Council ~n support of the applicat~on The Miils Act is one af the few financial ir~centi~es available to owners of historic properties and is an ~mportant tool in the Commission's efforts to encaurage the designation and long term preservation of the C~ty's historic resources CONCLUSION The Miffs Acf appfication for 130 Adefaide Dri~e ~s fhe firsf such requesf fo ~e considered by the City The fax relief pro~~ded by the Mifls Act provides owners af hrstorrc propertres w~th a f~nanc~af rrrcentrve to marntain and ~mprove therr bu~td~ngs. ar~d prov~des the City with a means to e~courage preservation of those structures which contrib~te to the City's h~star~ca! and cultural fabr~c BUDGETlFISCAL IMPACT Execution of th~s Mills Act contract would resul~ in reduced property tax revenue to the City Th~ actual amount of the tax reduct€on is determined by the Los Ang~les County Assessor, based on an evaluation of the worksheet provided w~th the application The - 4 - current annual property tax~s for this property is approximately ~10,000 Although the applicati~n states tha# the annual cost to the City in last tax re~enue would begm at $953 and increase approximatefy 2% each year, the actual revenue loss ~s sub~ect to rev~ew and determinat~on hy the Caunty Tax Assessar once the contract has been executed and recorded with the County RECOMMENDATION It is recommended that the City Gounci~ adopt the attached resolut~on and authorize the C~ty Manager to execute an Historical Pro~erty Preser~ation Agreement under the Mills Ac#, between the City of Santa Monica, and the property own~r of the Second Roy Jones House at 130 Adela~de Drive, a designated City landmark Prepared by Suzanne Frrck, D~rector Karen Ginsberg. Planning Manager Amanda Schachter, Seniar Planner Donna Jerex, Assoaate Planner City Plannmg ~i~ision Plannmg and Community Development De~ar#ment Attachments A M~IIs Act Resolution B Mills Ac# Contract Application C Milis Act Inforrrtatian Packet D Photographs F IPLANISHAREICDUNCILISTRPTIMILLSACT #1 - 5 - ,~ ~; ~ r~ u ~ ATTACHMENT A ~=~ - i?C ~ ~.° _ E~C~ parcels where refuse and recyclable materiais are both stored and collected ad~acent to public ra;;ht-of-way, the refuse and recyclable materrals shall be screened frorn pub~ac v~ew on a ieast three srdes i~y a salid opaque Yrnpact-resistant waii nat less than five feet or more than eight feet in height, and on the fourth side by a solid opaque impact-resjstant gate not iess than five feet or more than eight feet in height, or of ather such material or des~gn appro~ed by the Archztec[ural Rev~ew Board The gate shall be maintamed m work~ng order and shall remaln closed except during such tunes a refuse, recyclable matenals and otiier such rtems are bemg d~scarded, placed for collection, ar collect~d All refuse and recyclable materials which are stored and collected from the same location out of doors shall be stored not more than ten feet form the property ~me which ~s closest to the refuse collection point 39 The Prv~ect shaIl mclude a refuse and recycimg room or out door enclosure which complies with all the requirements of the CS zone The Director of tl~e En~ironmental and Public Works Managernent Department shall require the design and placement of a refuse and recyclmg room or outdoor enclosure ta prflvide adequate and accessible areas for the storage and collection of refuse and recyclable materials 40 In any ~w restaurant on the Property an a~r filtration and ventilation system shall be provided 41 The Pro~ect, ~ncluding all Open Spacs shall be accessible to handicapped persons . 42 The applicant shall be required to abtaln Architectural Review Board apgroval pnor to issuance of a building pernut Arclutectural Review $oard re~~ew shall be lirruted to the scope of reviewed allowed m the Mumcipal Code and shall be sub~ect to the deveiopment rights granted to the Property Owner pursuant to the Development Agreement 43 Civil Engineering plans shall be prepared tv City standards for all off-site improvements and suhmitted to the Office of the City Engineer for review and approval. The Department of Environmentai and Public Works Management may modify this condation in accordance with the standards set forth m Section b-C af the De~elopment Agreement regard~ng pro~ect phasing or Exhibrt D of the Development Agreement regard~ng subsutute unprovements 44 The applicant shall uistal~ a sewage regulating tank, if reasonably deemed necessary by the Enviranmental and Public Works Management Department based upan availat~le sewage capacity and other unprov~ments of sufficient size for the Pro~ect The Env~r~nmental and Public Works Management Departcnern and the apphcant may I9 ~ ~ ~~ r ~ • WHEREAS, the City Council has determined that rt is appropnate for the City to enter inta a tustarical property cornract with the owner of the property located at t 30 Adelaide Dnve, NOW, THEREFORE, TI~ CITY COUNCIL dF TI~ CITY OF SANTA MONICA D4ES HEREBY RE50LVE AS FOLLOWS SECTIQN 1 Pursuant to Santa Monica Munic~pal Code Sect~on 9 36 270{g), the C~ty Counc~l authorizes the City Manager to enter into a h~storical praperty contract w~th the owner of the property located at 130 Adelaide Dnve, Santa Monica, California in accordance wkth Government Code Section 502$0 et se~c SECTION 2 The C~ty Clerk shall cert~fy to the adopt~on of tlus Resalution and thenceforth the same shall be m full force and effect APPROVED AS TO FORM ~ ~. ~ f ~M ~ ,,. -. ~ '.`~ ~ k7.% .. - ` ..~i,,, - '~ , MARSHA JONES MOUTRIE City Attorney „~ ... _ ~ .~ ~ ~ ~ Adopted and appraved this 25th of November. 1997 % -~ ~`- ~ ,~~~~ ?~ Robert Hoibrook, Mayor Pro Tem I, Maria M Stewari, Ciry Clerk af the City af Santa Momca, da hereby certify that the forego~ng Resoluuon 9217 (CCS) was duly adopted at a meeung of the City Council held on the 25~ of No~ember, 1997 by the follawmg vote Ay es Councilmembers Noes Councilmembers Abstain Councilmembers Absent Councilmembers Ebner, Fe~nste~, Genser, Greenberg, Halbrook, Rosenstem None None ~' Connor ATTEST .~ ~~~~-- Maria M Ste~rart, City Clerk ATTACHMENT B ~ ~ v 4~ 1 ~ ~ ~~ U ~. 2 ~ ~ _ ~ - ~ .~,r ~ ~_~.~.~,-~~_;}} . ~ ~ ~ ;t .. - r . ~ ~,; - i ~ ~R•~~` ~ Y~ • r •~.!' ~' ~+~~,•: ~R ryr. ` . f}~L,. ,, , ~ ~ _ ri ~~ ."~.- - . ~ "' ~a _-9- :~y~,+,N 1 ~ ~ ~' s ~ +S . . ~ + r. x,,; = ,-; - tS ~ ` ~ 4 ~ - . ;~-° • _ ``_: -- : `. '_ - _'I . { .;~~s--~ ,~~~a±~~-~~::-~ =~~ . ,. -_ . - ;_,~ - , . , ~~ ;' - g . . _ > _ _ - ; ~ ~_:;~~ _•~~t~~~_~~-~ =~ 3 C~n of Santa Monica Placuung and Community Development Department Ctry Planrung D~~~s~on (310) 458-8341 MILLS ACT CONTRACT APPLICATION (Please T~-pe or Pnnt All Informatxon) A lic rio Number {s) Filec3 ~~ ~ ~ ~~~ ~' J~R ~?-00 f Fee Rere~pt 1~pr By ~ rxo.rEC~ Avnu~ss i~~ P~ ~-Pri`~ ~. ~2~V L Land Use Element Distnct Zomng Discrict ~' ~ Legal DescrEpt~on (Lot, Block. Tract) ~T ~ ti g~~'~ ~'~~~~~G` Legal Descnption (Book, Page. Parcel #) ~'~- ~~ P#~- ~Z ~~~ ~ ~ [Please attach copy of legal descr~pt~oa Generally this ~s "Exluhit A" on a Deed.} APPLICANT ~~ P~~L,`j~'J Oinao~~~F~'- Address Phone Santa Mornea Bus~ness Lxcense No CONTACT PER50N Address w( ~ Phone 5auta Manica Business Lieen~ No DESIGNER/ARCHITEC'i' Address ~ ~ Phone r~ Professional License Number Santa Momca Business L~cense No ATTORNEY Address N~/ ~ Phone 5anta Man~ca Basmess L~cense ivo '~~ ~ ~-.1 ~ Pr l~ ~- r~s"~a~ PROPERTY OWf~iER ! Address 1~O ~~--Pst.~ ~~(L Phone~ ~! Ol 3 13 O I~, I Certifr that this appl~cat~on is bemg made wtth my consent `~ j~~ PROPERTY OWNER'S SIG'vATUR~ ~ ~ SrN~t~, (rfi~+~v~ ~`z~,~YzNC,~ Ex~stme tise of Properi}' ~-l~ ~USf. €~ Pn-~ ~X7~n-S~~f~ Rehabil-tanon ar Ma~ntenance Needed (AFtach either the Rehab~litation ar Ma~ntenance Plan, as appropnate ) '` - g - ~,,, c~ ~s-~ ~~- ~~~- ~ - ~ 1. 3 ~t~~--~~~, ~ ~ ;,~.~_~~~~,-.._ :~x . . 3.~ i~ e~ ~,~ ~ ~~r~uQ~~ - 5,~~ ~N~ ~~ . . , ~ ~ rNrs !an r~ s e..J4 47~g~ ~~7 b R.~n Pz- m~' r'T~NPt tvC-~ ~Hs 0~~~.~ „~~ fZet~ ~~S Hw ~E~ ~ ~~ FINANCIAL ANALYSIS ~1~' MLLLS ACT CONTRACT ~ Annual ]ncrease Current Ycar 1 Year year 3 Year 4 Year 5 eaf 6 ear 7 ear Year 9 Year 10 !~ ~~lstoric Property Risk Component (Single Fam~iy Home = 4%) (All Other Property = 2%) t. ~` 11 I'roperty "Tax Component 12 Amonizauon Component (rec~procal of kife a~ property) 13 Total = Cap~talizattnn Rate (sum ]ines 9 through i2) TAXES 14 Mills Act Assessment (Net ~perat~ng incomel Lkne 13) 15 r ~ Tax Under Mills Act (Line 14 x O105881b) Ib Current Tax , 2% ! 7 7'ax Sxvmgs (Line 16 m~nus I.ine 151 18 Annual :'os[ C~~ C~iy ( I. mc 1'~ x 14 °I ) ~ fa (F~xed °k} 1~ (F~xed at 1~ due to Propos~tion 13) 3~ (30 years = 1/3D = 3% Generally constant hut rnay be read~usted based upon s~nreture's cvnstructiun materials ) ~ ~- _ ~ r ~ ~'_~7 , r J ~`_. ~ ,~~95~ .~~2 '_'~ 33~ ,~7$3 s~F~ ~-~ ~~ 1~ ~`~~~ 3~3~ <`,~~`~ ~~ '•~~-Q .~2~ +~~~ ~~~ ~~ ~ ' ~ ~ ~~Z ~ ~ S~ ~, 7,a ~ ~o~.Z~n ~ti~ '~--~n~ ft~-~-~? ~L E1F36.7- ~~ -~ '~ ~~ iL ~.~ ='f .~ .~..~.~ ~ -~ ~ 'z~z ?~.~. .~.i-~-z- ~ ~ ~~ ~~,~ ~~. f9~... l!"1~ ~°~1 l~ ~3 0 ~ i z ~~ Iq ~ ~~,.. ~: ,. . . , ~_,,.~ . ~ -,... - ;•~ '`.r~W, .,....,..,.-~.~.,_..,.... ,--.. .~_, ~.,. .~,xr~ ~ k ~ ~ ~F l/ ~ i M 4~ !''S N ~~J ' ~ 1 ~~~ ~~ x~` ~ 1 , ' ~ ~ . ~' ' I~, 5 'i A, ,k ,,,f,~7 ',p~~," .r r ~~ ' ~~~: ' ly ^ ~~.' ' ' ~,~ ~ r' sy~t'~ 1 +. ~ C ~~ ~i •?Si 4 i „M~~j.. ' ',,i.~,''. X~~ " ~;• s' i ~nF• j. ~r ..~~ I,Skf''~I~ ~ „~,~,'~~,~, ,. '~, . ;~ y ~ ~•K~ :~T . . - ~'~ r ' ,~c ! , ~'; ~ ,x ~ R, Y~ +~ i. ti „d ~,4. r . ~'~r., • q.~ ~ y~ ~~.~.t+ ~ ~'M1 . , ~ , . . ,t .' . ,f. _,1~s~ g',~~~,-,,~ '' ^•. i' ~r ;' ' t ' '~' ~y~i '~~' ~ ~r. ~ tirw d, ~.n p~ k5 , ' p' ~ ' ' R* 5r•_ '+ . ~ ~ 'Y. ~ . ~~~ .^. ,.. _ _'1., . . , ,~~,Y~~ - ~• `,'~' . F~ V ~. ~ fp~~~ ~ J~ r ~~rw ~ ' y~y^~+~ . ^ . , ~, , ' '~Y~ ,. wl,, ~~~~ ' ~'~ ~ 'f ;~ Y~ ~ ~ ~ ~' . .,._ .~.. .±, Il ~ ~~ y,sr~", ,~~ _ u'~ .~ ~ ~ ~ ~ FINANCIAI. ANALYSI3 41~~ MIGL5 ACT COIVTRACT . Annuaf REVENU~S ricrease Current Year 1 ~2 Year Year 4 Year ear 6 ear 7 Year 8 ae 9 ear l0 1 Munthly Rental lncome ~ 8r~"~ 2 Annual FtenEal Income 3% ~[,nnn r ~~ ~ ~~; 16~ larr,~~ ~ Ily~29~ ~ ~L ~ ~ ~~ ~~ L~,,5 r~.~ ~ '" ~. ~ {I.lne l x ]2) (Increase by 3~i each year) ~ ANNUAL EXPEI~SES ~Uues not mciude Taxes, Mortgage or Interest ] 3 Insurance 5°k b,r ; ~, ~_~;~ (~,,j,~? 76~F'~ 74('I ~,~ $~,Q ~~ gc~/_ ~ g~ a Uc~i~u~~ 6~ 1?.3rn i~ ~~&.?~ 1~~ ,~;.r~~ ~ 11 ~~,~ ~ ~s•~ ,;, i~.,~~ '_?,~ri -- 5 M~~ntenanc.c 5I IS,non l~_n !-~~^~i; ~~~ ?i,x-~C z~~J ?~~, '",~"~;; `-~--- ~ ~~ ~., ,. ~~ . =--;=;~ ) f- Managcment 5~ ~'A;~ ;I~~_ '_-~~ ""r1.~ ''~~~~~~_ ~LC2 6. ;r, _<~.,:;~ 1~.L ~~ 7°,.w.'~~ ~ Uther (Opeiat~ng Lxpenses) 2% ~e~lc, ~~l 1 _`-,._.~ i~. ~_ H~~G~ ,a.,3, ~~re ~ ~,I -j•'_" '`~~.', d{~k~~ 8 `i atal FxpenSeti (sum L~ncs 3 Ihrough 7) •~,~,u{) " ~ i~?~ ~~'~;1 '' 1 ~ ~, ~ ~~ ~~ ~..1 vv,a~ ~~~ ~7'-.5~,. ~ ~YF.T nP~;Rp'i'!NG 11YCUM~ (Lme 2 rninus l,wt A 1 . 1 rJ't ~ I~ ~ ~.~.5~ r J..,1~~ ~~~~~ ;i°r~ ~: r. ~~ 2>~ `~ ~ ~r )3,~~}_~i '~"~ ~ C ~ Jy I -~ C `~ ~~I ~ ~ ~~' `~-+-.~ ~~ r r' }~ I _~ CAl'I'I'ALYLA'f1UN itA'I'H; 9 Intcrest C'omponenl 7 5~ (Scptemhei 1995-1996) ~Ad~u sied each year by 5tate Boa rc~ of Liyualization ] ~ '~~ ~M ;r~,~ , ~ , _ fi~~u~'~£ "J~s~,, i `~i ~"z~,-f~ y' , '~3 .~',~ar ~ :~ "~~'~~'~`~~ - ;~~~, '. x~ ~„ ~ q,' .~ ~ r,~t ~ , .' ~ ,3; ~~~~~~'3 1 ', . ~~;~ ~~ "'~ivn ' ~ ~~Cl _ .1... , ., .,. .._. _ , _ . _. . -~'., . . 's; ~. . _... . .. . ~ . . . .'. , , ` . '. ~ ~ "" . " : , , , y . c :+ ti~' : " ` .; s, < : ~t 'f~ ~. . ~. ;•~E, ~,'; , , .<ti ` . ~ ~ ~~ , ''ti' . ' ~ ~~ ~p '•..rr 'YI IX~,`~ i ~ ~ ~ps~ ~ s ~~ ~ ' ~ :~~ ' ' } r,, i~ ' n + . ,Fi, .~~r ~ ,r, * ' ~7 ' ~'` ..M1 4 ~;'~.,:,R"°'^"^'~.:~~v*r ~ •~ : ,~ 4~. _~ , , ~ , 4..~,.,,, , . ~ ~ ~ ~ -- ~~: . -s. - - ::r~ - _~~ -_~~. .,~.._.~~ _~~_-a__~..,: ~} _=~ ~r~- ~ - _ - gf-~^~ _ ~~~•1 ` :~~ `~ t ~,~~°- r~ ~~ a4- - ~ `j`--•~ -- - ..~` _ ~~~~.~_ " '~ f ' `"~~f _ `' ,~k.G .t j?,z,~ i _ ~~,:- _ _ - R_~sT} ~ ~. . r~'~ . _ -. , , ~ _ ~ ~,-: ~ = - g,~ ~ _ ; - ; ~~.~.~.;~~:~.~=.~_•._1 tima~ .. . - .= r ~~- _ _ f. ~- ~.. aY~ -r °.5~v.is-.:~r ` _ ~ -E« Date of Local Designauon ~ ~ ~ ~~~ Is the propem~ des~gnated as part of an ttistor~c distnct~ _ If so, what distnct Is tlie propem~ listed on the 1`ational Register of H~skoric Places' Yes tio~ ~ Is the propem- listed as part of an histonc distnct`' If so, what distr~ct'~ Please alsa attach I A restorauonrrehabilitaUan plan for the des~gnated histonc property, if the buildmg is already restored and ~n good condit~on, a tnamtenance list must be submitied to support the need for tax reIsef 2 4 cost esumate of the restorauon~rehabilitatioa plan from a certifed archttect v~~as ~,~L ~-~ i S ~~ S -~i.b 3 A completed Financ~al Analysis of IvUIIs Act Con~act form 4 Phatographs of afl building ele~abons and character defu~ng features using 35 ~nm black and wlute film I certify that the mfarmation contained in the appl~cation ~s correct to the best of mj• knowfe~ge snd that th~s application ~s made v~~th the knawfedge snd canseet of the propertr owner. ~ / /Q APPLICA'~T'S SIGNATURE ~~~~ ~~r ~~~, / DATE ~ r/Z/ ( /~ , ~ / DnVer's L~cense Number Ne533~1~, State Ce~ Expiratian Date 1L~1~~S~C ~ 4 f !plantshare'~•lml:'°•m~llsapp ~:' 11 ~ 28%9S ~ _ ~ k }«s.. -- ~._ _ _-~ . ~ - ~ ~is ~ ~ ~t ~r, ~ ~6 L . ~ ` zS`"~ ~: `~c._~ a N~- i 7~ le7 ! 2~~ •-~ RECaR~INC r ~~~nBY ~ ; ~ ~ ' rrcoR T~. •~~~~kc~ ca. of ca i~~Rnia ti. . 4_. ~~ ~~~g.~ $ i^`~ ~ • ~ ''':~~ ~ ' ANC ~~HFN P= ti4AIL TQ ~ IIECORDED IN OfFICYAI RECORC~ . y ~ 'f=-r ~ ~~ OF LQS ANfaELES CQUI'IZY, CA ~ ' , ~ ;-_~;- . e DC. ~nd Nirs. Rc'~- ~vxng Weinster.n 1• ' , ^m i30 Fdelaide 7_ AJ~ •3(} 1988 AT 8 AM. ; ~y N • ' • ' "- - +7~+~'.. ~ tr`°` tldnu Sant~ Monica, ° ~+y 'i2 Ftecorder~S ~ICp ~ ~v ' ity & uta L , ' ~ ~~+3 ~4 . ~ - ~ ' TA% STo*c µEry ~ ~ MAIL l ~- ~~ ' ` 1 ' `#•_~ ~ !un• 8~~ d5 d7JCV2 , : !~'4 'Yn i~;y~; _ ~ . h~0[ ddra~ - .. . ~.~~d~ ~ ' - - ;<Y ~ . ~FFE ~7 ~ 1 . . ~~ . _ .~m ~ _ `°~ £ ~ -- SPACE ABOVE TIi13 LINE FOR ~DR~ER'~ lfS~ ~` ~ `~'= - . C AT ryQ yryppgg~ Indi~idual Grant C~~~ - - ~ T O 79231 F ~2 FS ~MIE fORM iVR1Vli1i O OY 71GdR 71YL[ IIV/VI~CRs ' '~ ~ The ui ders~gncd ~r- ~ 1ec[are(s) ~i~ • ' Docu~ ientdrti tranti• .~ 5 7.Sl~_qfs ~ z X ~ cornpu-cd ~~ue of property com yed, or , ~ ~ !~ompi~-c 1 l '~•e less value o: ]iea and encumbrances remammg ar t~me of sale , ( ) l.-r,tn[ ~r~x ~ X) Clri' ot Y~nra Hlnm ra , aird FQR V41 l hBl - ~' 'DFRAZ'ION, receip of wh[ch ~s hereby acknowiedged, ~~- ~~r ~ _ Tr~ast ee of Gc~-~ : Inc. Defined B~nefit Penszon Plan, CRAIG F~t.SCti and CYNTHIA • = EhPtE~ES~[d, husba;, 3a: wife ' . - -" ~ ' hereb~ GRAI~T(5) ° _ ' - ' ' ` - xZOBE~ T IRVINC nr'' ~'~"'iN and ZVIA WEIN"TEIN, hus6and and wlfe a5 conmunity pCt~perty ~ [he fa Ic~w~;n~ ~~ s~ ~ [.ropert~' ~n the ~l -y of Santa i~nica I , Coan~ ot ~g~l~ , 5iate of Cal~forn~a ~.~~.,~~,~. - A.~.~_ •-. ~ - = • - i ` - - - _ . ;- _ - - , f Lot -~r~ ~•It •'~" o~ the Pal~s~des. a$ per map recorded in Hook 9 , Page 32 rsG 1~aT~5 in the off3ce ~f thc county recorder of sasd county _ _ ~ ~ .- , 1 ~ ~ R ~~~.'.r~ ~- ~~.~;'.':~-t ~ ~ i ' ~ I I 7 +J . I3ate Auy~.=' l ', i~88 I S"IAf UFt1~ll~~ ~ . c l7 i'" 1 1 tl ~ .s _ . ,. _ . i i f ~n ~ ~~~~ j ~ nn ~ ~ ~ J d t T 1 £i ~C ~ i ~EOre _ - ~ ~ _ m., c` ~ unJc•~,~ ir ~ ~ P~.:trli~ ~n and far sa~d ">tatc. ld El~[1~2C80A perc~, alh 2~,p~ ~.r~~ _~ -~f~ra ~~rirS`~t 5D~ oerso~ allc krru» ~ y~red [o me on the bas~s ~f sat- ~sfa[[~ ~ti' eti'i~en~i '~ ~~ -son(~whose ~ame f ~ su~scr 6e~ cu r'i~ urcmen: and acknora :dgecE thac i~4rS- ~ ~~ . . e ' 4l'IT\ Sti~n; --~~ .~al , AIIlEE11EE#~Y~il } A - ~~~~~'~~ ~K~w ~ ~ - I S~kn.t ~r~ .~C~'J,~, _ } , ~ tMO~ADOOUIId , - •- ' G'*W+R6y~r+H~tS~1 ' i _ _ _-„• ,- '. _~ i IThis aaa for ofC~n^i na[u~al seal ~ Q~n-ri~r~ - - ~ ~ ~ ~ -- .- , ~ - - `~--'=_:" ~~~~`~~~~:`, ' s -=~~=~°s~;-.-~- , _~"- - -- - ; EXHIBIT' ~~C„ : ~~,Y~ ~ « <. 4,'~ ~`~~ °l - ~ ~~ ~ ' ' ~ ' •~~~~-~.: , FiISTORIC PROFERTY PRESERVATION AGRE~MENT - :-;~p~~-~~. .. ~ - ' ~ ~~OPQS~ H~~'F~ :.~::~i:v ;:r+• ~.., ..~ uiraC.1~E 1 j ° ~" - ' ~ ' t~nt'r, rv ~ [~ ?cr~c a f~~-PS'~ `~ - ~ ~~~„- $_ .` ~ ' {~A-1TaTfiNn'L~ The followmg r.~...a~-~n pro,~ects shall be compieted by tt~e applzcant over the inrt~al 10 year , - term of the contrac~ ~ • ~i _ .. yT.- - .. _~ ~~~~ F F ~ Item Year TasJc ~[ s {"_",.a`.'~m`..'=m ~ r ~~' - ~..~ ~' 1 1 ('~~ ~n ~ ' L- ~ F Jl ~~, ~ ~ I4' T~ /3'3 N 1 !~-4i. : "{ ^ ; -- - " . - a f-'Z.,l D~ ~~~1n.a~ ~ 2 ~~.,~, ~ ,Y ` =- - - ~ 2 [2.~+0 ~ ~ r~ b ~` ~~~~ C4~ `~n s T fT~ ~ f _ __ ._ _ _ ~``-r~"ic~- ~ S ~" H,~S ~ ` - - ~ - ~ , 3 t1L~z ~ i-IUL. ~ R~~: ~ cL~ 3 ~'' ~'Z`~ ~ ~ ~~ ~ ; ~ f3 ~ - u ~3 ~ ~~~^ f 3 4 i T~2~ti j j t-t,m M~ ~ ~ ~: ~,.,x ; Pn n L~ ; T2`z i~ rn 4~' ~'r Pr~v - 2 R+~ ° - 5 3 ~ ~ ~ ~ Ev ~ ~ , ~~ ~ L c f~ ~ ~N~~ M~T ~z ~fkNL [G - ~ , ' 6 !TL O U ! % L~t ~ F ~ `° "k- ~ N`' t~ ~U~~~ ~~1 rv ~ ~ ~y0ti ~T},p•2,yrrS ~ - n ~ ' J. ~ _d PSll.7' ~ ~ - " -~ 7 {1M' ~" WL4~ ~ !' `d ~~2f~~1~- ~i_i~. ~['i --N- tC ~ , f , ~¢~#~'~4 ~ _ ~ 8 ~ 4 ~ k-~""` ~Pc f ~ T ~~ ~ y . ~-~~,-Z ~W'r~(~ , _ , ~ R . ~- ~ G~~'~~Z ~ ~~~ { ~ ~ g ~ ~,wPio+~b Y~^ ~ P+~^"'~~ ~ . (.~}.,G `~ F~1 2~~ N~S~ { ~• - - -- ! ~ _ ~ ~.ti..4.r- ~~ ~ - ~r•'bc.- ~'th r~ i% ~*~^ P~t ~ . ~ 0 1~ ~~~. ~ _ ._ ~~ p~-~ ~~ ~ _ s ~,,~~,~,~.~ ~- ` ` L ~ ~ 11 '~'-6'~d~ ~ r~~-~ 9 ~-ra-~ _ ~ , 12 C2 f=~[.(C `c-D Gs r1~4~'~%S ~ ~„ p~ 1J cil~~c ~ . 3 !3 ~~~~.~ ~~~m~ 1 - ~ Imklmillsact i _ v. . v ~;..~x%r~w"~'``a- - = ~ * '~ j ~ 7 6 4 -- k~ • ; ' ~_ _ ~ ~ !S$ w _ ~ 1 ~ ,_ . -. ,. •~'r~~~''`•,'~.yi k~,~~~ - V~fr ~, ,• ~,:=r~s~ - _ - ~ 4~': ' e+~ wti~''"f. ~ F ' , ~~ ~ ~i i ~Lr '~`,` - ~ • - - ~ _-a ~ , y' ~ ~ L' - , ~ t. ; . . ~ .~~„~ K~ fi~~:.ar~ _}~ --~ . _ . ~~. ~ ~~ ~ ~ _ ~ _ _ : ~ . _ ~ ,. , ---- - ~ , .. -~ -- i ; ~ ~ ~ Date of Loca; ~es~gnat~on ~ ~ ~S ~4`~ { ~ ~ `~- ~'.~ ~,.Q.t U6 ~. Is the property des~gnated as part af an }ustonc district7 ~' ~ Tf so, what d~str!:.t~ ~ is the property l~sted on the Natianal Register of H~stor~c Places~ Yes No~ ~ Is the property ltsted as part vf ~n historic district? lf so, what d~str~cC~ " i Pldase also attach ~ - _; r~_ ~~ I . 1 A reslorationlrehabllitatluri plan for the designated historic property, if #he bu~lding ~s already restored ehd ii~ $t5tld condition, a mainttnance I~st trtust be subrniried to support ;i the need f~r tax ~eli~f. ' ' 2 A cost estimate df khe restarat~an/reheb~l-tat~on plan from a ctrtsfe~ ~rch~tcct ya~ pa~y~ ~},~ 14R5~4L ~i 3 A ~omplet~d ~'inanciai Aitalysis of Mills Act Cbntract form 4 Photographs of ali bu-ld`ntg ~1ev~#ions and chara~ter deFining fea#ures using 35 mm. black and wh~te film , .... .._ , . _. .. __,,.....-._~.....,,w,.. .. .~~.. . , ~r . r - ~ - ~ I cert~iy th~t tl~~ 4eformaNon eot~t~infd i~ the ap~licAtlan ls corttet #n #he 6e~t of iny. k~owledge and that t~is.appl~ration is made with the kno~•1ed~e and cangent uf the prapee-t}~ owaer. 1'/I~//~/ 1 ~ I 1.,, ~f3;C k rr ~ ~ a -- _ .-w- . - . _ _~ __,.~ . , ,_ r * ~ r i ~ .~ .~ - a . . - , ~.- ~ P _ ' _ . _ _ ~ -~. .,~ „- ~ ~, {l ~ ~ d ;} ~ -~2~ ATTACHMENT C -~~~ ~ y~ _ ~J L... I~ STATE OF CALIFORHlA-TF~ P~~RCE.S AGEMCr , ~ aFFICE OF HISTORIC PAESERYATI4N GEPART~IENT QF PARKS AND RECREATiON P.o eox ~ze9a s~Fxro a2saaoo~ ~~af ~zs Fruc: ~s~sy esa-~ Preserva fion Incen~i'ves THE MiLLS TAX ACT ~~~ ~.~~.~ 1~ 18TS s.o.~ar aama ~. ~nt~.o.a. ~M~b~i- ~d b~. #~t ra1»~ e~ rrl~ie4 if oai~r ~ow b~ioi roo~ » b~ o aiud. T~ M~la Aat em~ow~s 1ocaY ~o~~ram~ts ~o Raat ~tapetq- t~x reli~f ~o orr~s a[ qa~d ~iStoeFe ~ivpatia, ~t6 o~re~oawp~d d~e ta~a~ ~s a~ ioaome p~ne~ ooma~ed~ ~ A~ozmal asratmeat, ~- ~ td as a~ A~et eo~ae~ ii ~sseutid b~twwa tbe ~al ~o~t aad the prop~stj- o+raer 6o~r s~•:•~:••nm qa ~„ur p~riod to 1o+r~r the prop~rt~- taz 2m m~r~. t~e PmP~'i7' ow~pr[ a~nas to ~~. -~d msinnin t~ biua~ia~l a~d ~ c~ ~ ott~e p~vp~eq- i~ uoaeda~e~ with ~~i~od~cpr~r ~rwadem stsada:di md ~e~an., O~ea~rs i~d t~at s~ ~d ~rtbe bw~s aa~ t~ 1/i~~ ~i~ ~ I~R~ ~~ M~ ~il~i Ad [Dq~'1R ~t~011~ #~ ~Ofpt'~ t~ OO~t ~ ~li~- q,t~ t~! ~L1i~0~C ~f~OplYQ~. ~ ~! ^'~"""`iIIl~f ~i~! 9~ Oa 0~ Zw0 ~['Op~!- Llls ~! COIIti~CL. t~R ~ OZ ~~O ~Ch i~ Esaomdid~o we the pro~ram ss aa iaoeative ~d haw almost 20 bistarie prapsr~ iavdv~ed. ~~liOdlG ]~#p~Ct10IIi Of t,~! p=Op~i[]- by r1Cy ~ OOt1AL]- Of Sciav !altl=! the piOplr maiatlaaaea Qf L~ plOpaq'. Loeal anthant~es msp imPoae P~nilties £ar bsrach ~aa~- tract as a fsilure to prot~et tbe hiamzie groperty. Tbe contract is bir~;n• ou aIl a~raas during t~e ooatract ~~ - To qu:lify, a praper~y mr.st be Iisted va aay o~cial ted- esa1. stat~, oouat3', or city rfNter, iudn~;,,• the N~danal Re~ister ofHutarie plaees. tbe C-~t+f~e~ia Re~tar of Hia PETE MIILSON~ cer.rnar : .. _ ._ - - ~aei~al ~i~om~. th~ Ca~6ocaia B~d ~ Ittidosdr~, Giwe~iaPadfradHis~ejoslL-t~ aad lo~] a~n~e~J 1~R T~ 016ee a[$i~ooei~e Pr~iea m~ a st~te. wide ~M o[wao~ad~1 ~tsrosA~t ~ ~salQtiooa aad ooatraet a~ab. Fae fi~ ia~tioa aoa- t~et Eu~ear Itepw-s, 0~6ia~ ot8i~e Pr~s~rasi~n. at (9I6) 665~9338. ~ ~ ~~ ,~ ~ ~~ ~ cwLt~ar~r~w l~afE~.YA?ED1i ~ovxowr~~N ~ r~~r ir..~ b a.r n..~ r ai.~r.~ ~....~ nY~e ~M~irrsM liw~e 11w~.l~ M ~Ae ~l ~r O~i lw~~wlw I~~II~I~•~!~* r j~a ~llt ~ ~1~11pe[ ~lOw~d~i~i i ~1~t ~0 !~ ~ l~w~ra 'l~ir M~t+~1r~w~~s~i ras ~al~ ~Ap(~el~lsf~rhe)~r~i~~rrwelnlw~.~sOd ~ ~E~M~III.~O~~~i __-_ - - - ~o . ~r •tpw~F1100I1~1~R ~lOf~.~k~~f1d~ - ~• Q!. liE3 Meriwn 5.t~s 705. G~Id~d. Gl1i11 .a _t~~~ EXAMPLE 2: Mills Ac~ ~. Normal Assessment - 199b _ Commercial Office Suitding Mi1ls Acf Assessmenf sRCOme Approach to ~a~u~ Gro:s lncome: ~ Oifice i 40. i 36 si ~a- ;1.7 t=~239.6Zd I Otfice Z0.$bD sf ~ 2.D4= 42554 ~ Sforage 540 sf @ =1.~Ix 545 ~~27~5 ~ - _ x I2 rno ~ ; ` Tota! Anauallncoe~n~ ' ~3.392.7G0 Vaca~cp S!6 -„ t~.~35 EN~r: Gtots ~.223.0~ Exp~ns~s: ~nt - 25~,r8~5 MQir~tsnance - 9~.593 lr+s~.xoncf - SOADO Ut~s - 3Zt.4B~ Jc~itori~ - ~20.7~s ~~,]~ Net lneaen~: ;2.375.897 Cap~di~aljon Rote: Inter~t Rate 7.~ RWc Rate ZAD Deprecyatton R~te 2AQ Tax Raf~ ~Q Tota~ Cap Rcte ~230 ~'. Normal Aasessmenf t~come Appraac~ to Value Gro:s Income: ~S~me os #or Mills Act Treatment} N~t Income: ~2.37~,89T Cap~al~a~o~n Rol~; Mcrket O~eived Ol1tt 9.S9f. ~ax Rc#e . .~,,~ Tofal Cap Rate 10.~. Cap~a~~d Ydu~; NOlntate ~@~~ ;19,0~7.t7b .1250 - Value Concl~ston- . Asses~sd Volw ~ 51 ~.OQ0.00~ Es~ienaied Praptrty Tmcs~ $190.OOE~ I Capltali~~d Ya~s: _ j hlOl/Rt~t~ 3 23i5.897: ~.~27.590 I JOSO ydu~ Canr.l~e~ - ~ed Valw ~ en_i?S.OOa ~sfimnied lropNly Tax~s: $ 22~.~50 Net propetty tax savirtgs unde: M~tls a~t ~$36,?.~0 (169~) '-, COURTESY OF SACRAME~TQ COU`TY ASSE55~R'S OFFICE ~~ ~~z~ EX~1MP~.E ~: Mitis Act v. Normal Assessmen~ Single Famity Resider~ce 140Q Sq. Ft., 7S Years Oid Mills Art Assrssmen# Incame Approach to Volue Gross lncome: {~85Qlmo x 12F= ~10.200 Vacancy 8~ Col Loss: {5~} _ ~- 5x0 ~tfective Gross: ;9.694 ' ~xperts~s: Maintenance ~ 600 ~r~uronce ; ~80 Totol Expenses: ~~¢ Net Operat~np tntame ; 8.69Q Capitatization Rate Interes# Raie 7.50 Risk RCte 4.00 Depr:ciatior~ Rate 3.OD tax Rate a .OD Tota] Cap Rate 1 t.SQ 9G Capitolization ot Net Incame: NQllCap Rcte S 8•~90 = ,; 59.931 .1454 Jlss~ssed Volue ~ S6~.OQ0 Es~irnafed Propeely Tax~r. $ 400 Normol Asseasmeni Maricet Approach to Vo~ue 3) Asseuor uses Seie Compcrison Approa~~ u:ing sales of aimilar prop~rfies appropr~ataiy ad}~sted for d~ffercnces betwesn comparohle and the sub~ect property. 2~ Sates ~dicate mcrket vdue of ~ 150.00~ I~:ess~d Ye~lu~ = 5~9Q.000 E~matfd Tmcf~ s .~1.500 Net property tax savings under Mills ~.ct =~900 (!~) ~~Z5 CITY DF VAI.r-F~a APPLICATTON FQR A MILLS ACT CONTR.4CT V• l. ~pplicant's/Orvners'.~ Nurnc.• 2. Smet Addreu: ~~ 3. Phau Nas. ~Da-~tim~: f ? HIS TORIC PROPERTY LOCATION: 4. H~Storic Name: ~ 3• Smeet ~ddr~ss: 6. As~~'s Pance! Nrm6~cr.• 7. lrgal Drsai~iar~: LANDMARI~ DESIGNATION: Statt.- . , ~'rp: - Fvir~ting: ~ ~ - & I.~cr~ Typr. Paandal: l.oaal: Sta~c: 9 Da~c of D~esf~ ~ r~ . F07'ENTlAL ST RUC~TJRBJPRQPER?Y IMPROVEM~'j' Tl~[~LIN~• PL_°~ J~t d~e ~. e~d d~e~fr esrf~s~ aara. ~iak arr iwrend~d m rake plaa o~er nc~ ,~aa 10 ~. L~t t1ia~ f~ order aj"aw~er'a R~a~j- fior e~di ~r ~~dd~ttawa~ s~uers ~+~ae~-j YGa4 1 ~ . A~I~CQi~OA Fa: ~ , ~~ .~ :~ ~ ~ ~ ~ ~ ~ ~ . ~ ~ E ~ E- ,~Y~ W~t/! ~pll, S3~ tLICh ~QT ,~T 1JQl thTCE yEQr~ T[aQT~!t~ Of ~ 1~1~T QT 1JOt t~t CO~ ~T ~T1d1~C~ ~- ~~A{p~C~. n ~ ' YO~ti ~ t T IS THE MILLS ACT :~ • AD~PTION IN 1~72, AMEN~ED IN 1984. • PROVIDES F~R A REDUCTI4N Il~I PROPERTY T.AXES FOR gUA~ ~IE~ HISP4RIC PROPERTtES. • REPRESENTS A CU~RENT USE ASSESSMENT FOR PR~PERTIES, KNOWN AS A"CON'I~ACT ASSESSME11Tr'. • PROPERTY 4WNERS MUST ENTEI~ IMTD PRESERV~iT~ON C~NTRAGTS WITFi Ti~ Cl'!Y IN EXCHANGE FOR PROPER'iY TA7~ RELIEF. ~ SOURCE QF AVTHflI~IIY: - C~ ~NAL ALTI'~~OR1TY T~4 PR~VIDE PROPERTY TAI~ R~~-~`~ F4R ~QRI~ ~a~~~s {~. corYSn~v~zo~. ~. xYn-s~ - ~' HIS1~RiC PRa~RTY CONTRAGT5 (CA. GO~IT. CaDE--50250-50289) - RF,~,S.SESSII~NT' ~F PROPERTY $UBJECT ~ A 11~.i.S AC:T' G~ONII~A{:T ~CA. REVEIWE ~t TAK CaDE--439-439.4~ • COUN'rY A~SSESSOR DIRECTED SY STA1E IAW Z~O ADJUST VALUE OF PROPERZY DOWNWARD 1~0 REF'L~CT RES'TRICIIONS PLACED ON PRaPER'IY RATHER THAN VALUE. COURTESY pF REDWOOD CITY `~" - il2 I B ENEFI'TS O F ~VIILLS A~T AGREE11/IENT • REDUCTTON IN PR4PERTY TAX. • INCEASES LIKELIHOaD ~F PRESERVATION. • ASSURES MECHANISM'PO AVOID DETERIORATI~N. • PROVIDES MECHANYSM F4R R~A~n-~'TATION. • CAN EN~URAGE SENSTI'IVE HUME BUYERS T~O P'URCHA~E DESIGNA'TED HIS~R~C STRUC~JRES. • 11AFFT'S 1~ G~ALS OF ~ HIS"I~DRIC LANDMARKS OF'TI~ ~990 GBNERAL PLAN AND ~S'I~ORIC PRESERVATION ORDINAI~CE. + ~~ 0~~~~~ ~~./L 1 MiwiA7 ~i~i ~T.l . ~ INCOME PROD~C~NG FRaPERTIF.S. • VISUAi i Y IIuIPROVES THE PHYSICAL ENVIltONMENT OF THE CaMMUN1TY AND PROVIDES A FOCUS t~ HIS~~RIC LANDII+IA.RKS. ' . ~ . ~ ; •, ~ ~~ HI GHLI GHTS ~F MILLS AGREEMENT • corrr~cr ~ ~s r a ~s. - PROVIDES FOR TF~ PRESERVATTQN OF A QUAi,~TEED HIS'~'QRIC PRQPERTY AND, WI~EN NECESSARY, RESTaRA'I'I4N AND RLHABILI~'ATION. • PERIODIC INSPECI'I(3N OF Tf~ SUBJECT H~~ItIC PR~PFRT'Y. ~ CONTRACI' IS BINDIlV~ ON SUCCESS~RS iN IlVTE~F.S1' IN Ti~ .PRO~PER1'Y. • CI'I'Y CAN REQUIItE PROPERTY ~WNF.R 'I'0 PAY A FEE "N0~' 'PO EXCEE,D THE REASONABLE C4STS AF AD ~ 1"HE P~tOGRAI-T' (GaVT. C4DE 50281.~) _~,~;~ ~w~ ~ ~ ~ C~NTRACT `~ APpRC~VAL PRa~ESS _ G~UAL1FiEQ HfSTORIC PHOV~RTY 4WNER STAFF ~ MlLLS ACT CONTRA~T TAX ASSESSOR ~ r ___..~_ HIST4RIC RESOURCES ADVISQRY COM. PLANNMI(~ COMIIAISSiOPi CITY CI~UNCiL C~J:EH (~I~l46) MILLS ACT ~ _ _. _ 1 PR4PERTY VALUE: ~T ~, ~~a~ $1 U0,000 CAPITALIZATIQN RATE: MORTGAGE ~ RA'TE + 1 D.59'a 1 PR~PFRTY RI5~ CC)MPONEN'~' + 4~0 ~ c~ ' ~: ; ~ >~~ ~.~..~. TAX 20 RATE + YEAR ~ -24.50% ~~ L~ ~ NEW ASSESSED VALUE: :>6~[}[~ ZO.Sa~'o = :~29,268 CURRENT' PR~PER'TY $1~04 . . AX ~, 4 MILL~ ACT PRUPERTY . ~293 TAX PAYM~NT SAV~NGS: $7Q7 . , c,1:a~, t:~r t;~~ ATTACHMENT D -+-'33 l ~l '~ Y ~~ ~r? ~ c'f: r ~~ r~~ I ~ ~ i~^,