SR-02-09-1988-6D
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California
C/ED:SF:LM:nh Santa Monica,
council Mtg: February 9, 1988
TO: Mayor and city Council
FROM: city staff
SUBJECT: Recommendation to Adopt Resolution Approving Final Map
for Tenant-Participating Conversion TPC-042 at 735
Marine Street.
INTRODUCTION
This report transmits for City Council approval a Final Map for
the fOllowing tenant-participating conversion project:
Tract No. TPC NO.
ADDRESS
OWNER
UNITS
18321 042
735 Marine Street
Phillip s.
Kamornick
4
BACKGROUND
The city Planning Commission approved the Tentative Map and the
Tenant-Participating Conversion for the above project on June 15,
1987, after a public hearing and a careful review of the record
and staff recommendations. The action of the Planning Commission
was based on the Commission's findings that the proposed Tenant-
Participating Conversion meets the requirements of Article XX of
the city Charter and that the proposed sUbdivision is consistent
with applicable general and specific plans as adopted by the city
of Santa Monica along with all mandatory requirements of the Sub-
division Map Act of the state of California.
The owners have submitted to the city a written Consent Agreement
binding the owners and any successors in interest to each condi-
tion imposed in connection with approval of this Tenant-
,,-D
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FEe 0 9 J988
Participating Conversion. This written Consent has been approved
by the City Attorney and the city Manager. Each participating
tenant has been informed in writing of his or her rights under
Article XX of the city Charter. The License Division reports
that proper arrangements have been made to ensure payment of the
Tenant-Participating Conversion Tax.
The Final Map conforms to the Tentative Map. The Final Map has
been certified by the City Engineer for conformance with the Ten-
tative Map and conditions thereon, the Subdivision Map Act and
local ordinances. The City Attorney's office has approved a Dec-
laration of Covenants, Conditions, and Restrictions, or equiva-
lent document, for this project as complying with the conditions
of the Tentative Map and the Tenant-Participating Conversion.
Council approval of a final map for a tenant-participating con-
version represents one of the last steps necessary in the conver-
sion process. Following City Council action and approval by the
California Department of Real Estate the applicants may begin
selling their units to the tenants. As each unit is sold a con-
version tax per section 2008 of Article XX is due in an amount
equal to twelve times the monthly maximum allowable rent for that
unit. These taxes will be used to assist low and moderate income
households to purchase or improve their units SUbject to afford-
able repayment per Section 2009 of Article xx.
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BUDGET/FISCAL IMPACT
The recommendation presented in this report does not have an im-
mediate budget or fiscal impact. If and as units in the project
are sold in the future, Tenant-Participating Conversion Taxes
will be collected pursuant to the provisions of Article XX of the
Ci ty Charter and some increased property tax revenues may be
generated.
RECOMMENDATION
It is respectfully recommended that the Final Map for this
Tenant-participating Conversion be approved by adoption of the
accompanying resolution.
Prepared by: Suzanne Frick, Principal Planner
Larry Miner, Assistant Planner
City Planning Division
Community and Economic Development Department
SF:LM:nh
CCTPC042
Ol/l9/88
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RESOLUTION NO. 7552
(CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING AND APPROVING
A FINAL SUBDIVISION MAP FOR TRACT NO. 1832l
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS:
SECTION l. That the Final Map of Tract No. l8321 in the
City of santa Monica hereby is accepted and approved.
SECTION 2. That the City Clerk hereby is authorized and
directed to endorse upon the face of said Map this order authen-
ticated by the Seal of the City of Santa Monica.
SECTION 3. That the City Clerk shall certify to the adop-
tion of this Resolution, and thenceforth and thereafter the same
shall be in full force and effect.
APPROVED AS TO FORM:
~,\v
ROBERT M. YER"S
City Attorney
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I
.
Adopted and approved/this 9t day of
I
, JJ ;01/
rtayor
1988.
~
I hereby certify that th foregoing Resolution No. 7552(CCS)
was duly adopted by the City the City of Santa Monica
at a meeting thereof held on February 9, 1988 by the following
council vote:
Ayes: Councilmembers: Finkel, Jennings, A. Katz, H.
Katz I Zane, Mayor Conn
Noes: Councilmembers: None
Abstain: Councilmembers: None
Absent: Councilmembers: Reed
ATTEST:
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~~LL.\ . L
Ac..f;/1 ci Clerk