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 Ass...
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