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Committee advances six Mills Act historic-property contracts to full Board
Summary
The Government Audit and Oversight Committee voted without objection to forward six resolutions approving Mills Act contracts for historic properties across San Francisco, with staff and the Assessor explaining rehabilitation plans, estimated restoration costs and tax-valuation methods.
The Government Audit and Oversight Committee on Jan. 7 voted to forward six resolutions approving Mills Act historical property contracts for privately owned buildings across the City and County of San Francisco.
Chair Jane Kim said the committee would call items 1 through 6 together and moved them forward with recommendation to the full Board of Supervisors without objection.
Shannon Ferguson of the Planning Department summarized the Mills Act program, which permits local governments to enter into 10-year rolling contracts that reduce property taxes for owners of qualifying historic properties in exchange for preserving and maintaining architectural character. "This agreement provides property tax reductions to owners of those historic properties who can then allocate the savings towards an appropriate…
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