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Sec. 19.144.  Procedures for Application and Approval of Historical Property Contracts.
 
   An owner of a Historic-Cultural Monument or Contributing Structure may file an application with the Department for approval of a Historical Property Contract.  Each application shall be accompanied by a nonrefundable application fee as specified in Section 19.01 F. of the Los Angeles Municipal Code.
 
   An application for approval of a Historical Property Contract must include a complete legal description of the property.
 
   Upon receipt of an application on a form to be prescribed by the Department and upon the payment of the required fees as set forth in Section 19.01 F. of the Los Angeles Municipal Code, eligibility of the property for a Historical Property Contract pursuant to this chapter shall be determined.  Upon verification that the property is a Historic-Cultural Monument or a Contributing Structure, the Department shall calculate the amount of revenue loss to the City from real property tax savings.  If the amount of lost revenue from the proposed Historical Property Contract will not cause the City's lost revenues from Historical Property Contracts in the aggregate to exceed $2,000,000 annually, then the Department shall ascertain whether the property's current assessed valuation is $1,500,000 or less for single-family dwellings, or $3,000,000 or less for multi-family residential, commercial or industrial buildings, unless the property is located within the Downtown Historic Core, the Hollywood Historic District, or the Greater Los Angeles Downtown Area, in which case the dollar limitations relating to assessed valuation are inapplicable.  If those respective valuations are exceeded and the property is located outside of the Downtown Historic Core, the Hollywood Historic District or the Greater Los Angeles Downtown Area, the Cultural Heritage Commission shall determine whether an exemption should be granted, pursuant to Section 19.142 of this Code.
 
   If the property is determined ineligible for a Historical Property Contract by the Historical Property Contracts Manager pursuant to this section, the owner or the owner's agent may appeal the Staff Determination of Ineligibility to the Cultural Heritage Commission.  The appeal shall be filed on a form provided by the Department of City Planning, along with the fee specified in Section 19.01 F. of the Los Angeles Municipal Code.  The Cultural Heritage Commission shall make a determination of eligibility subsequent to the appeal.
 
   If the property is determined eligible for a Historical Property Contract pursuant to this section, the owner or the owner's agent shall prepare and submit to the Department a Historical Property Contract containing the required provisions as set forth in Section 19.143 and pay a Contract Execution Fee according to Section 19.01 F. of the Los Angeles Municipal Code.  Historical Property Contracts shall also include a fee covering periodic inspections mandated by the State of California to occur once every five years.  The fee shall be as set forth in Section 19.01 F. of the Los Angeles Municipal Code.
 
   The City's standard Historical Property Contract or the owner's version, as approved by the City Attorney, shall then be submitted by the Department to the City Council for its consideration.  Historical Property Contracts are subject to City Council approval by majority vote of the entire City Council.
 
SECTION HISTORY
 
Added by Ord. No. 171,413, Eff. 12-28-96.
Amended by: Third Para., Ord. No. 172,857, Eff. 11-15-99; First Para., Ord. No. 177,183, Eff. 1-15-06; In Entirety, Ord. No. 182,068, Eff. 3-31-12; In Entirety, Ord. No. 182,332, Eff. 1-11-13; In Entirety, Ord. No. 185,952, Eff. 2-28-19.