5. MILLS ACT PROGRAM – HISTORIC PROPERTY PRESERVATION AGREEMENT FOR 250 PACIFIC STREET The Mills Act is State legislation that provides for reduced property taxes on a historic property if the property owner agrees to maintain and preserve the property for a minimum of ten (10) years. On June 16, 1997, the City Council authorized the implementation of a Mills Act program and established a policy specifying which properties would be eligible for the program. Attachment A of this report includes a draft historic property preservation agreement for the property located at 250 Pacific Street. - City of Tustin, CA

Meeting: Regular Meeting of the City Council

Meeting Time: December 15, 2020 at 5:30pm PST

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Agenda Item

5. MILLS ACT PROGRAM – HISTORIC PROPERTY PRESERVATION AGREEMENT FOR 250 PACIFIC STREET The Mills Act is State legislation that provides for reduced property taxes on a historic property if the property owner agrees to maintain and preserve the property for a minimum of ten (10) years. On June 16, 1997, the City Council authorized the implementation of a Mills Act program and established a policy specifying which properties would be eligible for the program. Attachment A of this report includes a draft historic property preservation agreement for the property located at 250 Pacific Street.