SR-6-C (79)
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LUTM:SF:DKW SHK'\PLAN\SHARE\TORCA\FNMAP\TPC243
Council Mtg: March 8, 1994 Santa Monica, Californla
TO: Mayor and Clty Council
FROM: C~ty Staff
SUBJECT: Recommendatlon to Adopt Resolut~on Approving Final Map
for Tenant-Participating Conversion TPC-243 at 1441
Harvard Street.
INTRODUCTION
ThlS report transmlts for City Councll approval a Flnal Map for the
following Tenant-Particlpat~ng Conversion proJect:
Tract No. TPC NO. ADDRESS OWNER UNITS
51359 243 1441 Harvard Stanford K. Shu, 8
Sidney K. Shu,
Stanley K. Shu, &
Cecelia S. Shu,
Trustees
BACKGROUND
The City Plannlng Commisslon approved the Tentative Map and the Ten-
ant-Partlclpating Conversion for the above project on Septemmber 2,
1992, after a public hearlng and a careful review of the record and
staff recommendations. The action of the Planning Commission was
based on the Commlssion's flndlngs that the proposed Tenant-
Partlcipating Conversion meets the requirements of Article XX of the
City Charter and that the proposed subdlvlslon is conslstent with
appllcable general and speciflc plans as adopted by the Ci ty of
Santa Monica along with all mandatory requlrements of the
Subdlvision Map Act of the State of California.
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The owners have submltted to the Clty a Written Consent Agreement
bind~ng the owners and any successors in interest to each cond~t~on
imposed in connect~on with approval of this Tenant-Participat~ng
Conversion This Written Consent has been approved by the City
Attorney and the City Manager. Each participating tenant has been
informed in wrltlng of hlS or her rights under Art~cle XX of the
ci ty Charter. The Llcense Division reports that proper arrangements
have been made to ensure payment of the Tenant-Partlclpating
Conversion Tax
The Final Map conforms to the Tentat~ve Map. The Final Map has been
certified by the City Engineer for conformance w~th the Tentat~ve
Map and cond~tions thereon, the Subdivision Map Act and local
ordinances. The City Attorney's offlce has approved a Declarat~on
of Covenants, Conditlons, and Restrlctions, or equivalent document,
for this proJect as complying with the conditions of the Tentative
Map and the Tenant-Participating Conversion.
Counel1 approval of a final map for a Tenant-Participating
Convers~on represents one of the last steps necessary ln the
convers~on process. Following C~ty Council act~on and approval by
the Californ~a Department of Real Estate the applicants may begin
selling thelr units to the tenants. As each unit lS sold a
conversion tax per Section 2008 of Article XX lS due in an amount
equal to twelve times the monthly maXlmum allowable rent for that
unl.t. These taxes w~ll be used to aSSl.st low and moderate ~ncome
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households to purchase or lmprove their units subJect to affordable
repayment per Sectlon 2009 of Article XX.
BUDGET/FISCAL IMPACT
The recommendatlon presented in thlS report does not have an lmmedi-
ate budget or fiscal lmpact. If and as unlts in the project are
sold in the future, Tenant-Part~c~pating Converslon Taxes w~ll be
collected pursuant to the provisions of Artl.cle XX of the Clty
Charter and some l.ncreased property tax revenues may be generated.
RECOMMENDATION
It is respectfully recommended that the Final Map for this Tenant-
Partlclpating ConverSlon be approved by adoption of the accompanying
resolution.
Prepared by: Suzanne Frl.ck, Director of LUTM
D. Kenyon Webster, Plannlng Manager
Susan Healy Keene, Asslstant Planner
Plannl.ng and Zoning Dl.vl.sl.on
Land Use and Transportation Management Department
f:\plan\share\torca\fnmap\tpc243
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State of CalIforma
County of Los Angeles
CIty of Santa Mamca
I. ClarIce E Dykhouse, City Clerk of the CIty of Santa Maruca, do hereby
certIfy that to the best of my knowledge and belIef; the foregomg is a full, true and
correct copy(s) of Resolution Number 8725 (CCS) on fIle m The CIty Clerk's
Deparnnent, and that I have carefully compared the same WIth the ongm;:tl{s).
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal
of the City of Santa Moruca, tlus 14th day of March 1994
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~Clance E Dykhouse, CMCI
City Cierk
CIty of Santa Monica
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RESOLUTION NO. 8725 (CCS)
(City Counc~l Series)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING AND APPROVING
A FINAL SUBDIVISION MAP FOR TRACT NO.51359
AT 1441 HARVARD STREET
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS
SECTION 1. That the Final Map for Tract No.51359 ln the City
of Santa Mon~ca hereby is accepted and approved.
SECTION 2 That the C~ty Clerk hereby is authorlzed and
dlrected to endorse upon the face of sa~d Map this order
authentlcated by the Seal of the City of Santa Monica.
SECTION 3. That the Clty Clerk shall certlfy to the adoption
of thlS Resolutlon, and thenceforth and thereafter the same shall
be in full force and effect.
APPROVED AS TO FORM:
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LAWRENCE
City Attorney
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Adopted and approved thiS 8th day of March, 1994
eft' /~ /t
- Mayor
I hereby certify that the foregomg ResolutIon 8725 (CCS) was duly adopted at a
meetIng of the City Councd 8th day of March, 1994 by the followmg vote
Ayes. Counctlmembers Abdo, Genser, Greenberg, Holbrook, Olsen, Rosenstein,
Vazquez
Noes Councdmembers.
Abstam: Councdmembers:
Absent. Counctlmembers
ATTEST
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City Clerk