City Council Study Session Summary 2009 02 24

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City Council Study Session Summary DATE Page 2 of 7 emergency reserve funds should be set aside each year, and suggested 20 percent. A comment was made that now is an appropriate time to update, in spirit of the ballot issue. Board members discussed the HPC's recommendation of expenditures. As far as recommendations for variances, the variances do have to go through the Planning Commission. There is a possibility to discuss in joint session. Staff discussed the process with HPC. Staff emphasized the need to maintain clarity of the commission and the board responsible. Exigent reserve funds will be limited the first year. Whether or not there should be allocation between residential and commercial is a concern; as there are differentials in costs. A smaller amount of money could impact more properties. A point of discussion is that the HPC would re-evaluate after one year. At this time there is not a benchmark or existing program to exemplify. The commission members discussed the need of allocation the first year. The tax is novel and a model for historic preservation communities. There are examples to follow for purchase and re-sale as ways to preserve landmark properties. Public and private partnerships are all mechanisms that have been implemented. The HPC should consider rules for acquiring a property. A question was raised, "Once you have fixed the landmark property, what is the value of that property?" A HPC representative stated, as a residence the value increases. The focus of Board members is the value of commercial property. The different concerns could be sorted through. The program would need to be run by a publiclprivate partnership. Another option to bring to the table is to consider if the interface is affordable with these little homes to preserve. Some of these small homes are attractive due to the location, and the market. The HPC needs to be careful to not get off track as to the intention of the HPC, as perceived by voters. The commission wants to stay within those limits. The commission does represent the desires of the City residents, and the City Council was pleased with the feedback. A positive outlook on the options helps move the plan forward. Appreciation has been expressed for the hard work of the commission, and that the HPC is proactive early on. City Council would like to see some projects this year, to demonstrate the HPC is being proactive. The topic of eligible residents that would qualify for local land-marking was discussed. The HPC members indicated that there is a new member, as well as no vacancies on the HPC at this time. City Council stated the amount of work put into the work plan was amazing, and provided a plan for future implementation. The plan is ready for legal counsel, with further staff discussion of how the plan will work. An HPC member wanted to provide an update on a local building the commission is attempting to save. This building is a wonderful opportunity for a preservation project. The location of the property is outside of downtown. The building was a brothellcasino, on Highway 42, and then moved to the North. The building is well preserved, and in good shape. Balfour wants to expand their property, and the building does not integrate into the company's plan. HPC indicated that they needed contacts and interested parties to come forward. HPC would like to have