§ 65.801. Definitions.

Assessed Value. For purposes of this section, the total value of a tax parcel, excluding the value of the land, as determined by the Orange County Property Appraiser, and shown on the property tax bill sent to the owner of record by Orange County.

Historic Preservation Board. The Historic Preservation Board created by Section 65.130 of the Orlando Land Development Code.

Contributing Property. Property determined by the Historic Preservation Board at the time of designation of an HP Overlay district as a property that shares in the qualities and characteristics that qualified an area of the City of Orlando as an HP Overlay district.

Owner of Record. The owner of record as defined in Section 66.200 of the Land Development Code.

Preservation Exemption Covenant. The Historic Preservation Property Tax Exemption Covenant, in substantially similar form to Florida DOS Form No. HR3E111292, indicating that the owner agrees to maintain and repair the property so as to preserve the architectural, historical, or archaeological integrity of the property during the Exemption Period.

Qualifying Improvement. Any change in the condition of qualifying property brought about by the expenditure of money on labor or materials for the restoration, renovation or rehabilitation of such property. Expenditures for interior or exterior work, including construction of additions or accessory structures, shall be included in the meaning of improvement for purposes of this section.

Qualifying Improvement Project. A qualifying improvement project is one for which the property owner can document to the satisfaction of the Historic Preservation Board that the total expenditure on the project within the two (2) years prior to the date of submission of the Part 2: Final Application equals or exceeds twenty-five percent (25%) of the assessed value of the property in the year in which the qualifying improvement project was initiated. An amount equal to $2,500, or fifteen percent (15%) of the amount spent on the qualifying improvement project, whichever is less, must be an expenditure on work to the exterior of the historic structure.

Qualifying Property. The following real property in the City of Orlando is qualifying property for purposes of this Section: (a) property designated as a Historic Landmark by the City of Orlando, and (b) property within the boundaries of an HP Overlay District designated by the City of Orlando and found by the Historic Preservation Board to be a contributing property to that district. The property must be a qualifying property on the date that the historic rehabilitation tax exemption is approved by City Council.

(Ord. of 9-16-1991, Doc. #25102; Ord. of 6-20-1994, Doc. #27635)