(A) Completion of work. Agreements must include terms and conditions requiring the owner to complete the work and maintain the qualified historical property in accordance with the owner's maintenance plan. So long as the owner performs the work and maintains the qualified historical property, that property is eligible for reassessment of valuation pursuant to Cal. Rev. and Tax. Code §§ 439, et seq. (including, if applicable, subsequently enacted amendments) if the Ventura County Assessor determines that those provisions of the California Revenue and Taxation Code apply to the qualified historical property.
(B) Term. The term of agreements are a minimum of ten years.
(C) Compliance with applicable law. In addition to all other applicable laws, the owner must agree to complete the work and maintain the qualified historical property in accordance with the rules and regulations of the office of Historic Preservation of the California Department of Parks and Recreation and the United States Secretary of the Interior's standards for the treatment of historic properties.
(D) Inspections. The owner must give the city permission to periodically examine the interior and exterior of the qualified historical property. Such permission must extend to the Ventura County Assessor and the state of California including, without limitation, the State Board of Equalization, so that the owners' continued compliance with the agreement can be verified.
(E) Binding on successors. Agreements must include a requirement that the agreement be binding upon, and inure to the benefit of, all successors in interest of the owner. A successor in interest will have all of the rights and obligations of the original owner.
(F) Indemnification. Agreements must include a hold harmless provision which will, in part, cause owners to indemnify the city, its elected and appointed officials, officers, employees and agents from any liability arising from the owner's activities. The provision must be in a form approved by the city attorney.
(G) Insurance. Owners must obtain liability insurance from an insurance company licensed to do business in the state of California and having a financial rating in Best's Insurance Guide of not less than "A VII." Such insurance will provide "occurrence" coverage against liabilities for death, personal injury or property damage arising out of or in any way connected with the owner's activities. Such insurance will be based upon the nature of the franchisee's activities, the risks foreseeably involved, and will be in the amount prescribed by city council resolution or city policy. Insurance will name the city and the city's elected and appointed officials, officers, and employees as additional insureds under the coverage afforded. In addition, such insurance will be primary and noncontributing with respect to any other insurance available to the city and will include a severability of interest (cross-liability) clause.
(Ord. 1219, passed 11-16-09)