R-221
....
RESOLUTION NO.
221
(PAS)
(Parking Authority Series)
RESOLUTION OF THE PARKING AUTHORITY OF THE CITY OF
SANTA MONICA TRANSFERRING PROPERTY OF THE PARKING AUTHORITY
TO THE CITY OF SANTA MONICA
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, which is commonly known as Parking Lot
Four; 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 Parking Lot Four would be compatible with maintaining the
existing number of public parking spaces in Parking Lot Four for
parking purposes; and
WHEREAS, the city of Santa Monica desires to sell the air-
rights above over the property to the Jewish Federation Council of
Greater Los Angeles ("JFC"), who will prepare an application for a
United States Department of Housing And Urban Development ("HUD")
Section 202 grant to develop affordable senior housing units in the
air-rights over Parking Lot Four; 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
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WHEREAS, the transfer of such property does not contravene any
covenant or agreement made with the holders of any bonds of 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. The parking Authority of the City of Santa
Monica shall transfer the property located at 1116-46 Fourth Street
in the City of Santa Monica to the City of Santa Monica subject to:
A. JFC' s receipt of a grant commitment from the HUD
Section 202 program for purposes of constructing affordable senior
housing on the property;
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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Acting City Attorney
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Adopted and approved th~s 15th day of June, 1993.
~':1rJ
I hereby certify that the foregoing Resolution No. 221(PAS)
was duly adopted by the Park~ng Authority of the C~ty of Santa
Mon~ca at a meeting thereof held on June 15, 1993, by the
following Authority vote:
Ayes:
Authority Members: Abdol Genser, Holbrook, Olsenl
Rosenste~n, Vazquez
Noes: Authority Members: None
Abstain: Authority Members: None
Absent: Author~ty Members: Greenberg
ATTEST:
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/1A~ ~
- Clerk '