M&C Review


COUNCIL ACTION:  Approved on 3/21/2017 

DATE: 3/21/2017 REFERENCE NO.: G-18971 LOG NAME: 0616 4TH QUARTER PARTIAL
CODE: G TYPE: NON-CONSENT PUBLIC HEARING: NO
SUBJECT:   Approve Applications for Partial Approval of the Historic Site Tax Exemption for 1916 Hurley Avenue and 2265 Washington Avenue (COUNCIL DISTRICT 9)

RECOMMENDATION:

It is recommended that the City Council approve the applications from multiple property owners for partial approval of the Historic Site Tax Exemption for the properties located at 1916 Hurley Avenue and 2265 Washington Avenue.

 
DISCUSSION:

The owners of the properties have applied for partial exemption from City taxes. The Historic and Cultural Landmarks Commission (HCLC) approved both the applications for partial tax exemption and the Certificates of Appropriateness, where applicable, for the rehabilitation of these properties at public hearings.

Location

Council District

Owners

1916 Hurley Avenue

9

Amanda Blackman

2265 Washington Avenue

9

Tarrant Properties




Location

Historic Designation

Council District

Owners

1411 North Commerce Street (South 1/2)

Historic and Cultural Landmark (HC)

9

Ramona Perez
1411 North Commerce Street (North 1/2)

Historic and Cultural Landmark (HC)

9

Ramona Perez
1504 Fairmount Avenue

Historic and Cultural Landmark (HC)

9

Justin and Meg Renninger
2013 Alston Avenue

Historic and Cultural Landmark (HC)

9

Shaina Starks
1616 Washington Avenue

Historic and Cultural Landmark (HC)

9

Kyle and Vicki Reeves
1117 Hawthorne Avenue

Historic and Cultural Landmark (HC)

9

Sarah Adams







The owners intend to complete substantial rehabilitation of the designated buildings. They will be eligible for the partial tax exemption if the work is:

* Completed in compliance with rehabilitation standards; and
* The rehabilitation costs equal or exceed the required expenditure of 30 percent of the assessed value of the improvements or $3,000.00, whichever is greater.

Following the rehabilitation of the properties listed, tax exemption applications will be returned to the City Council for verification of completion of the project. If the City Council verifies tax exemptions for the Historic and Cultural Landmark properties, the assessed values of the improvements and the land will be frozen for a 10-year period at the pre-renovation values listed below:

Property Address

Taxing Year Value

Land Value

Improvement Value

Required 30 Percent Expenditure

Proposed Expenditure

HCLC Review

1916 Hurley Avenue2016

$75,000.00

  $123,398.00

$37,019.40

$62,707.00

10/10/2016
2265 Washington Avenue2016

$50,000.00

    $87,840.00

$26,352.00

$40,000.00

12/12/2016

Property Address

Taxing Year Value

Land Value

Improvement Value

Required 30 Percent Expenditures

Proposed Expenditures

HCLC Review

1411 N. Commerce Street (South 1/2)2015

$ 8,997.00

$8,503.00

$ 2,551.00

$12,600.00

July 11, 2016

1411 N. Commerce Street (North 1/2)

2015

$ 8,997.00

$14,003.00

$ 4,201.00

$12,600.00

July 11, 2016
1504 Fairmount Avenue 2015

$50,000.00

$110,000.00

$33,000.00

$35,000.00

July 11, 2016
2013 Alston Avenue

2015

$30,000.00

$157,700.00

$47,310.00

$47,310.00

August 8, 2016
1616 Washington Avenue2015

$30,000.00

$46,000.00

$13,800.00

$85,000.00

August 8, 2016
1117 Hawthorne Avenue2016

$50,000.00

$35,353.00

$10,605.00

$80,000.00

September 12, 2016

These properties are located in COUNCIL DISTRICT 9.

This M&C does not request approval of a contract with a business entity.



 
FISCAL INFORMATION/CERTIFICATION:

The Director of Finance certifies that approval of the above recommendation will have no material effect on the Fiscal Year 2017 Budget. While no current year impact is anticipated from this action, upon approval reduced revenue will be included in the long term forecast associated with years 2018-2022.

TO
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FROM
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Submitted for City Manager's Office by:
Fernando Costa (6122)
Originating Department Head:
Randle Harwood (6101)
Additional Information Contact:
Justin Newhart (8037)

 
 
ATTACHMENTS
  0616 HC partial - 4TH QUARTER.pdf