10-01-2018 HPFC Report 04_ Report Reseeding Workshop

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Historic Preservation CITY OF Fund Committee IkIVERSIDE Memorandum Community & Economic Development Department Planning Division 3900 Main Street, Riverside, CA 92522 1 Phone: (951) 826 -5371 1 RiversideCA.gov TO: Historic Preservation Fund Committee MEETING DATE: October 1, 2018 FROM: Scott Watson, Associate Planner ITEM NO: 4 WARD: Citywide SUBJECT: DISCUSSION AND RECOMMENDATION ON RESEEDING THE HISTORIC PRESERVATION TRUST FUND RECOMMENDATION: That the Historic Preservation Fund Committee: 1. Recommend priority ranking for potential funding source; and 2. Direct Staff to develop a strategy for reseeding the Historic Preservation Trust Fund based on the recommended priority rankings. BACKGROUND: The City Council created the Historic Preservation Fund Committee (HPFC) in April 2013 by amending Title 20: Cultural Resources. The HPFC established the application and criteria for fund disbursement, which was reviewed and approved by City Council in December of 2014. The Historic Preservation Trust Fund (Fund) was initiated in 2013 with funds of $600,100. The HPFC has awarded four cycles of grants and today, the Fund balance is $38,537.20. On July 31, 2017, the HPFC directed Staff to investigate potential funding sources for reseeding the trust fund. On January 8, 2018, Committee Member Charles Tobin asked that a workshop on potential funding sources for the trust fund be agendized at the next committee meeting. At the April 16, 2018 HPFC meeting, the Committee directed to Staff to set up the meeting at a time that would encourage public attendance. On July 11, 2018, the Historic Preservation Fund Committee held a public workshop to discuss the potentials of reseeding the Historic Preservation Fund. Following the workshop, the committee asked Staff to bring back a priority ranking of the funding sources based on the workshop discussion.