Agenda Item Name:
Title
Resolution Providing for Historic Ad Valorem Exemption at 305 NE 6th St. Gainesville
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Presenter:
Kathleen W. Pagan, Senior Planner, 352-374-5249
Description:
Historic Ad Valorem Exemption for one (1) property in Gainesville. The City granted the exemption in 2020, for 10 years beginning 2020.
Recommended Action:
Recommended Action
Approve the Historic Ad Valorem Exemption
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Prior Board Motions:
In accordance with Comprehensive Plan Historic Preservation Element Policy 2.8, and per Chapter 39.7 of the Alachua County Code, the Board may grant an ad valorem tax exemption for historic preservation for qualifying properties within the county.
Fiscal Consideration:
Fiscal Consideration
Estimated value of exemption based on project cost: $2,480/ year for 10 years
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Background:
1. (County) Resolution and Covenant for 305 NE 6th Street, Gainesville (Documents Requiring Action - 2 separate files; with owner signature page scan attached separately showing agreement of owner) 2. Adopted City of Gainesville Ordinance 190607 and Covenant 3. City Staff Report 4. Map Location 305 NE 6th Street, Gainesville
This property owner has applied for the exemption this year. If approved, the ad valorem exemption will be for 10 years and will cover the increased assessed value of the property resulting from the renovations that took place which as documented in the tax exemption application. The enclosed application for the property has been reviewed by the certified local historic preservation office of the City of Gainesville that has determined that the improvements meet the federal Secretary of Interior Standards for Historic Preservation and are therefore qualified. The property is also eligible for the County exemption.
Background
The owner of the property (305 NE 6th Street, Gainesville) in the Northeast “Duckpond” Historic District renovated an historic multi-family residence and added an additional apartment. The structure is a Colonial Revival/ framed vernacular home typical of Gainesville in the 1920s. County Planning staff has estimated the value of the exemption based on the construction value ($300,000) times the current county 2019 millage rate to be $2,480/year. This estimate would be a total exemption of $24,800 in County ad valorem taxes over the 10 year exemption period. This is a preliminary estimate only, and it is possible the increase in assessed value would not be as high as full construction cost. So the final exemption value when 2020 Property Appraiser assessments are complete may be lower. In 2019, prior to the work requesting the exemption, the assessed value was $226,996 and the total property tax was $5,273.48 (the ad valorem portion was $5,146.49).
The City staff report includes photos showing the project work. The project was designed by a local Architect and included interior and exterior rehabilitation of a multi-family historic structure. The porch was restored and an existing bath and kitchen were rehabilitated, and a new (2Bd./2 ½ bath) apartment was added.
This project has preserved a historic structure built circa 1922 that enhances the architectural qualities in the NE Historic District in Gainesville.