Existing law authorizes an owner of any qualified historical property to contract with the legislative body of a city, county, or city and county to restrict the use of the property, as specified, in exchange for lowered assessment values. Existing law defines “qualified historical property” as privately owned property that is not exempt from property taxation and is either listed in the National Register of Historic Places or located in a registered historic district, as defined, or listed in any state, city, county, or city and county official register of historical or architecturally significant sites, places, or landmarks.
Existing law establishes the Infill Infrastructure Grant Program of 2019, which requires the Department of Housing and Community Development to establish and administer a grant program to fund capital improvement
projects pursuant to specified requirements. Existing law provides that capital improvement projects that may be funded under the grant program include, among other things, those related to adapted reuse, which means, when referring to building structures, retrofitting and repurposing of existing buildings that create new residential rental units, as specified.
This bill, starting January 1, 2026, and until January 1, 2036, would additionally define as “qualified historical property” a privately owned property that is not exempt from property taxation that was constructed at least 30 years prior to the year a legislative body and property owner enter into a contract to restrict the use of the property, as specified, and that is located within the City of Los Angeles on a site that satisfies certain criteria, including, among others, being in a zone where
office, retail, or parking are a principally permitted use. The bill would require a contract entered into to restrict the use of that qualified historical property to require adaptive reuse of the qualified historical property. property, dedicate at least 3 units to live-work artist lofts, and facilitate, promote, and accommodate active transportation, as specified. The bill would also update an obsolete cross-reference.