City Offers Incentives For Preservation of Historic Properties
2017-02-15 · By Editor
The City of Long Beach is now accepting applications for the third year of its reinstated Mills Act Property Tax Abatement Program (Mills Act), an economic incentive program for historic properties. The public is invited to attend two important events to learn about how to qualify and apply for tax benefits, while also preserving the City’s designated landmarks.
- Pre-Application Workshop, Saturday, February 25, 2017, 10:30 am, Jenny Oropeza Community Center at Cesar Chavez Park, 401 Golden Avenue.
- Application Workshop, Saturday, March 4, 2017, 10:30 am, Dana Neighborhood Library Meeting Room, 3680 Atlantic Avenue.
“Long Beach is committed to preserving its rich heritage and maintaining the unique properties that reflect the character and diversity of our City,” said Mayor Robert Garcia. “The Mills Act helps to further protect these historic sites, while providing qualified property owners with substantial savings each year.”
On January 6, 2015, the City Council approved revisions to the Mills Act to provide more opportunities for eligible historic property owners. The Mills Act is a State program that is administered and implemented by local governments, and offers economic incentives to qualifying owners of historic or designated landmark sites upon agreement to rehabilitate, restore, and protect their property.
Under the Mills Act contracts, private owners receive tax benefits in exchange for proper maintenance and preservation of the historical and architectural character of the property for an initial 10-year term. The Mills Act is especially beneficial for recent buyers of historic sites, or owners who may have recently had a property transfer or tax re-assessment.
The Pre-Application Workshop will provide an overview of the Mills Act and eligibility requirements. The event will also include a review of the process for preparing an application and calculating individual property tax savings. The Application Workshop will provide more specific information geared toward those interested in proceeding with the application process.
All potential applicants or their representative must attend the Pre-Application Workshop. Mills Act applications are processed once a year, during the application period. The deadline to submit an application is Friday, March 17, 2017.
Last year, 15 Mills Act contracts were awarded for historic properties within the City of Long Beach, representing a mix of single-family homes, commercial properties, and mixed-use apartments and condominium buildings. There are currently 58 properties with Mills Act contracts in Long Beach.
For questions regarding the Mills Act, please call 562.570.6437 or e-mail email@example.com. For additional information about the Program, visit www.lbds.info/millsact. To view a copy of the Historic Preservation Element, go to www.lbds.info/planning/historic_preservation.