As The Arts District and Greater Down Town Los Angeles. transforms into expensive luxury neighborhoods, prospective home buyers must put more effort into finding the best deals on amazing lofts. The Mills Act lofts can make it easier to find a great deal by providing property tax benefits that can represent a great deal on a home in Downtown L.A. #millsact #downtownlosangeles #lofts
Not ready to buy? Check out our building index for Lofts and Condos available to lease.
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The Mills Act economic incentive program helps private homeowners, including loft condominium unit owners in California with the restoration and preservation of qualified historic buildings. For L.A., the program is administered and implemented by the City of Los Angeles. Mills Act contracts are between the property owners (HOA for condo buildings) and the city and county government granting the tax abatement. | REQUEST LIST
The Mills Act helps Los Angeles city hall to design preservation programs to accommodate Downtown and the entire city’s needs and priorities for rehabilitating its neighborhoods, encouraging seismic safety programs, contributing to affordable housing, promoting heritage tourism, and fostering pride of ownership. The city and neighborhoods get economic benefits of conserving resources and reinvestment as well as playing an important role in historic preservation for revitalizing older areas, creating cultural tourism, building civic pride, and retaining the sense of place and continuity with the community’s past. | MILLS ACT HOMES FOR SALE | MILLS ACT RECENTLY SOLD
Each local government establishes its own criteria and determines how many contracts it will allow in its jurisdiction.
Not sure if you are already on the list or if your information is current? Check out the Mills Act Contacts List.
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Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.
