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RIVERSIDE MUNICIPAL CODE RIVERSIDE, CALIFORNIA Sections: 20.30.010 20.30.020 20.30.030 Chapter 20.30 PRESERVATION INCENTIVES Preservation Incentives. Mills Act Program. Historic Preservation Fund. Section 20.30.010 Preservation Incentives. The City Council may establish preservation incentives to encourage owners to designate, maintain, preserve, rehabilitate, and improve Cultural Resources. Only properties designated as Cultural Resources pursuant to the provisions of Riverside Municipal Code Title 20 shall be eligible to apply for preservation incentives. (Ord. 7108 §1, 2010; Ord. 6778 § 1, 2004; Ord. 6566 §2, 2001; Ord. 6263 §1 (part), 1996) Section 20.30.020 Mills Act Program. Pursuant to Government Code section 50280 et seq. ("the Mills Act"), the City Council has established, by Resolution 20825 (as amended) a Mills Act Program providing for contractual agreement with an owner of a historic property as designated by the City Council or listed on any official federal, state, or county register for the purpose of preservation, rehabilitation, and maintenance of a designated historic resource. A Mills Act Agreement allows an owner to receive a reduction in property taxes in exchange for the property owner's commitment to specific repair, restoration and/or rehabilitation improvements and satisfactory maintenance of the Historic Property. A Mills Act Agreement is for a minimum period of ten (10) years, renewed annually, unless a notice of non -renewal or cancellation is filed. Mills Act applications are accepted only during the month of June, and must be actually received by the Planning Division no later than the last business day of the month. A Mills Act application will be acted upon by the City Council before the end of the calendar year during which it was submitted. (Ord. 7206 §19, 2013; Ord. 7108 §1, 2010; Ord. 6566 §2, 2001; Ord. 6263 §1 (part), 1996) Section 20.30.030 Historic Preservation Fund. A. A Historic Preservation Fund Program is hereby established to provide funding for the conservation, preservation, restoration, and rehabilitation of Cultural Resources consistent with the purposes of this Chapter. B. The Historic Preservation Fund is hereby established to provide funds for Historic Preservation projects within the City of Riverside. 1. The funds shall be used solely for the conservation, preservation, restoration, and rehabilitation of historical resources as provided in this section. 2. The Financial Administrator of the Historic Preservation Fund shall be the Community Development Director, or designee. 3. All monies designated by the City of Riverside for this Program shall be deposited in the Fund, held and administered by the City's Finance Department.