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A Historic Structure Assessment was previously done for the property, completed by May Yin <br />Architecture in 2016 and paid for by the Historic Preservation Fund. The assessment <br />(Attachment 6) makes several recommendations that correlate to the line items in the grant <br />request. <br />COST ESTIMATE OF PROPOSED WORK: $351,232.00 <br />MATCHING PRES. & REST. GRANT MAXIMUM UNDER SECTION 8: $40,000.00 <br />MATCHING NEW CONST. GRANT MAXIMUM UNDER SECTION 10: $15,000.00 <br />Preservation and Restoration Grant: <br />Under Resolution No. 17, Series 2019, residential applicants are eligible for a $5,000 <br />unmatched incentive grant as a Landmark bonus. Owners of a landmarked property will be <br />eligible for this grant following the signing of the Landmark and grant agreements. The <br />remaining $40,000 grant shall be conditioned based on the applicant matching one hundred <br />percent of the amount for approved work. Approved work must fall under the categories of <br />preservation, rehabilitation, and restoration. <br />Preservation is the act or process of applying measures necessary to sustain the <br />existing form, integrity, and materials of an historic property as they now exist. Approved <br />work focuses upon the repair of exterior historic materials and features rather than <br />extensive replacement and new construction. <br />Rehabilitation is the act or process of making possible a compatible use for a property <br />through repair, alterations, and additions while preserving those portions or features <br />which convey its historical, cultural, or architectural values. Rehabilitation acknowledges <br />the need to alter or add to a historic property to meet continuing or changing uses while <br />retaining the property's historic character. The limited and sensitive upgrading of <br />mechanical, electrical, and plumbing systems and other code -required work to make <br />properties functional is appropriate. <br />Restoration is the act or process of accurately depicting the form, features, and <br />character of a property as it appeared at a particular period of time. Approved work <br />focuses on exterior work and includes the removal of features from other periods in its <br />history and reconstruction of missing features from the restoration period. <br />New Construction Grant: <br />Under Resolution No. 17, Series 2019, owners of landmarked property on which additions to <br />existing residential structures are proposed are eligible for matching grants of up to $15,000 for <br />new residential construction that, beyond mandatory requirements, substantially limits mass, <br />scale, and number of stories, preserves setbacks, and protects the historic integrity of the <br />property and its environment by differentiating new work from the old. Qualifying new <br />construction must maintain the existing height of the historic structure over the first 1/3 of the <br />overall structure and have a floor area ratio (FAR) 10°/o below what is allowed by zoning. <br />Staff reviewed the Preservation and Restoration Grant request by evaluating whether each <br />request line item qualified for grant funding as either preservation, rehabilitation, or restoration. <br />Staff also reviewed the New Construction request for zoning and Old Town Overlay compliance. <br />Findings are summarized in the following tables. <br />15 <br />