R-210
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RESOLUTION NO. 210 (PAS)
(PARKING AUTHORITY SERIES)
A RESOLUTION OF THE PARKING AUTHORITY OF THE CITY OF SANTA
MONICA TRANSFERRING PROPERTY OF THE PARKING AUTHORITY TO THE
CITY
WHEREAS, the Parking Authority of the city of Santa Monica
is the owner of certain real property located at 1116-46 Fourth
street in the City of Santa Monica; and
WHEREAS, given the location of such property it is not
economic to use such property solely for parking purposes; and
WHEREAS, the development of housing units in the air rights
over the Property would be compatible with maintaining at least
the existing number of public parking spaces for parking
purposes; and
WHEREAS, the City of Santa Monica desires to sell the air
rights over the Property to the Retirement Housing Foundation
(IIRHF") for purposes of developing senior housing under the U.S.
Department of Housing and Urban Development Section 202/8
Program; and
WHEREAS, pursuant to streets and Highways Code Section
32667, the legislative body by two-thirds vote may adopt a
resolution transferring property of the Parking Authority to the
City; and
WHEREAS, the transfer of such property does not contravene
any covenant or agreement made with the holders of any bonds of
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the Parking Authority of the city of Santa Monica issued and
outstanding,
NOW, THEREFORE, THE PARKING AUTHORITY OF THE CITY OF SANTA
MONICA DOES RESOLVE AS FOLLOWS:
SECTION 1. Upon the approval of the REF's application for
loan funds for the development of senior housing under the U.S.
Department of Housing and Urban Development Section 202/8
Program, and upon a determination by the City council that the
desired public parking facility for the site can be constructed
in conjunction with the senior housing, the property located at
1116-46 Fourth street in the City of Santa Monica shall be
transferred from the Parking Authority of the City of Santa
Monica to the City of Santa Monica.
SECTION 2.
The Executive Secretary shall certify to the
adoption of this Resolution, and thenceforth and thereafter the
same shall be in full force and effect.
Approved as to form:
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Robert M. Myers U
City Attorney
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Adopted and approved this 23rd day of May, 1989.
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Chairper's'on
I hereby certify that the foregoing Resolution No. 210(PAS)
was duly adopted by the Parking Authority of the city of Santa
Monica at a meeting thereof held on May 23, 1989, by the
following Authority vote:
Ayes:
Authority Members: Abdo, Finkel, Jennings, Katz,
Zane
Noes: Authority Members: Reed
Abstain: Authority Members: None
Absent: Authority Members: Genser
ATTEST:
CL Cv .,.12---
Deputy Clerk Of/Parking A~itY