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04/05/2019 <br />r <br />CITY OF <br />RJVER$IDE <br />The Mills Act <br />Community & Economic <br />Development Department <br />Cultural Heritage Board <br />Agenda Item: 3 <br />April 17, 2019 <br />RiversideCA.gov <br />WHAT IS THE MILLS ACT PROGRAM? <br />• 1972 - State Senator James Mills <br />authorized the "Mills Act" in <br />response to the plight of the <br />historic Hotel Del Coronado <br />• A local property tax incentive <br />program <br />• Encourages restoration, <br />rehabilitation and preservation <br />of privately owned properties <br />• Implemented by Riverside City <br />Council in 2004 <br />2 <br />R1VCR$IDC <br />RiversideCA.gov <br />1 <br />