A. Mills Act Compliance. The owner’s commitment to comply with the requirements of the Mills Act (California Government Code, Sections 50280 through 50290).

B. Tax Benefit. As long as the property owner properly rehabilitates, restores, preserves and maintains the qualified historical property as set forth in the historical property contract, the town shall comply with California Revenue and Taxation Code Article 1.9 (commencing with Section 439) of Chapter 3 of Part 2 of Division 1; provided, that the assessor determines that the specific provisions of the Revenue and Taxation Code are applicable to the property in question.

C. Term. All historical property contracts shall be for a term of ten years. Extensions may be considered on a case-by-case basis.

D. Property Maintenance. The owner’s commitment and obligation to preserve, rehabilitate, restore and maintain the property in accordance with the rules and regulations of the Office of Historic Preservation of the California Department of Parks and Recreation and the United States Secretary of the Interior’s Standards for the Treatment of Historic Properties.

E. Tax Assessment Impact. An assessment of valuation in accordance with the San Mateo County assessor’s office and California State Board of Equalization.

F. Inspections. Authorization for the town to conduct periodic inspections of the interior and exterior of the property to determine the owner’s compliance with the historical property contract with inspections being conducted no less frequently than every five years.

G. Assignment. That the historical property contract is binding upon, and shall inure to the benefit of, all successors in interest of the owner, including that the contract transfers with the property should the property be sold or otherwise transferred to another party during the term of the historical property contract.

H. Indemnification. The owner’s indemnification of the town for, and agreement to hold the town harmless from, any claims arising from any use of the property.

I. Termination and Enforcement. Agreement that the town may cancel the historical property contract, or seek enforcement of the contract, when the town determines that the owner has breached the terms of the contract or failed to comply with the provisions of this chapter. The town shall comply with the requirements of the Mills Act for enforcement or cancellation of the historical property contract. (Ord. 652 § 1, 2022)