07-31-17 HPFC RPT 05 - Laserfiche WebLink

Home

ACIV ITOF I�EKSIDE Historic Preservation Fund Committee 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: July 31, 2017 FROM: Historic Preservation Officer ITEM NO: 5 WARD: Citywide SUBJECT: CONSIDERATION OF THE RECOMMENDATION TO ACCEPT $69,792.86 IN RETURNED GRANT FUNDING BACK INTO THE HISTORIC PRESERVATION FUND RECOMMENDATION: That the Historic Preservation Fund Committee (HPFC): 1. Accept the returned grant funding back into the Historic Preservation Fund in the amount of $69,792.86; and 2. Direct staff to seek funding sources to reseed the Historic Preservation Fund and make presentation to the committee within 6 months time. BACKGROUND: The City Council created the Historic Preservation Fund Committee (HPFC) in April 2013 by amending and adding to the preservation incentives chapter of Title 20: Cultural Resources included in Riverside Municipal Code to allow for a new type of incentive: Historic Preservation Fund Grants. The HPFC consists of 5 members who were selected by the Mayor's Nominating and Screening Committee and the Cultural Heritage Board. The HPFC met regularly to establish 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 $600,100 and subsequently gained interest and book sales for a total of $630,606.08. The HPFC began awarding grant funds in April of 2015. In four grant cycles a total of forty-four grants have been awarded for a total of $684,260.91. Through the administration of the program seven grants have been returned to the fund through cancellation for a variety of reason. Additionally, three project have unused funds that are being returned to the fund. The projects approved vary greatly but focus mostly on preservation oriented projects of single family rehabilitations (31) in addition to a Museum, Pubic street features, a Multi - Family, apartment building, a Commercial building, and a Public Park facility will have been