Title
Approval of Special Valuation for 301 Maple Park Avenue SE
Recommended Action
Heritage Commission Recommendation:
Move to approve the special valuation application for 301 Maple Park Avenue SE
City Manager Recommendation:
Move to approve the special valuation application and all qualified rehabilitation expenditures as submitted for 301 Maple Park Avenue SE, as reviewed and recommended by the Olympia Heritage Commission and Olympia’s Historic Preservation Officer.
Report
Issue:
The City of Olympia participates in the Washington State Special Valuation program, a benefit available to a designated historic property. Following Olympia Heritage Commission review and recommendation for approval, the City Council makes the final decision on whether to approve or deny the submitted application.
Staff Contact:
Michelle Sadlier, Historic Preservation Officer, Community Planning and Development, 360.753.8031
Presenter:
None. Consent calendar item.
Background and Analysis:
The Special Valuation Program provides owners of eligible historic buildings the opportunity to apply for a property tax revaluation following the completion of approved rehabilitation work. This program incentivizes historic preservation by helping offset the costs of work to maintain and upgrade older buildings that typically result in higher property tax values. Following review and approval of expenditures, the property tax is reassessed and the total approved amount invested is subtracted from the new property tax value for 10 years. More information on this program can be found in Attachment 2.
Following the provisions in Olympia’s municipal code (OMC 3.60, Attachment 3), the Olympia Heritage Commission (OHC) performs a full review of each application and its related expenses. The OHC then makes a recommendation to the City Council for approval or denial of the application. Once the City Council approves or denies the application, the Thurston County Assessor is notified of their decision for final processing of the revaluation where approved.
Application for Special Valuation at 301 Maple Park Avenue SE
The current application was submitted by Eric Dightman for his home at 301 Maple Park Avenue SE (Attachment 1). Mr. Dightman’s application was initially reviewed by the City’s Historic Preservation Officer to determine if it meets the requirements for participation in the program. She found that the application meets the preliminary requirements as follows:
• The house is a “contributing” property in the South Capitol Neighborhood Historic District, meeting the designation requirement;
• The submitted value of improvements is $54,140.10, which is over the required minimum value of 25% of the building’s current property tax valuation of $208,800.00;
• All submitted receipts meet the definitions provided in WAC-254-20-030 and Internal Revenue Code Section 47(c)(2), described in Attachment 4; and
• All construction work listed in the application has been completed within the required two-year timeframe.
Following this initial review, the OHC’s Heritage Review Committee conducted a site visit to inspect the rehabilitation work on August 17, 2015 (Attachment 5). Using the U.S. Secretary of the Interior’s Standards for Rehabilitation, the Committee considered all elements of the renovation work completed by the applicant. As a result of this review, the Committee passed a motion to recommend approval of all submitted expenses for Special Valuation.
The Heritage Review Committee presented their recommendation to the full OHC at its September 23, 2015 meeting. The OHC discussed and supported the Committee’s recommendation, and passed a motion to recommend approval of the special valuation application and all qualified rehabilitation expenditures as submitted for 301 Maple Park Avenue SE.
In summary, because Eric Dightman has satisfied all of the requirements for the program, the OHC recommends approval of the application for Special Valuation.
Neighborhood/Community Interests (if known):
There is public interest in preserving the places that are important to Olympia’s history, culture, and sense of place.
Options:
1. Approve the application.
2. Deny the application with findings of inconsistency with program requirements.
Financial Impact:
Staff time for processing Special Valuation applications is included in the base budget. Approving the application would result in no direct financial impacts to City of Olympia budgets.