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RESOLUTION NO.
(Redevelopment Agency Series)
RESOLUTION OF THE REDEVELOPMENT AGENCY OF THE CITY OF
SANTA MONICA ACCEPTING THE TRANSFER OF THE PROPERTY
LOCATED AT 175 OCEAN PARK BOULEVARD FROM THE PARKING
AUTHORITY, FINDING THE TRANSFER OF BENEFIT TO THE
OCEAN PARK REDEVELOPMENT PROJECT; AND APPROVING THE
EXECUTION OF A PROMISE TO PAY THE PARKING AUTHORITY
THE AMOUNT OF FIVE HUNDRED THOUSAND DOLLARS (S500,OOO).
WHEREAS, the Redevelopment Agency of the City of Santa
Monlca dld apply for and was granted Coastal Development Permlt
(No. A-3l8-76) for the ProJect on March 2, 1977; and,
WHEREAS, sald Coastal Development Permlt contalns a conditlon
that "... (C2) The appllcant shall cause to be rehabllltated the
eXlstlng 27 unlts of houslng owned by the City of Santa Monlca located
at the northeast corner of Nellson Way and Ocean Park Boulevard. The
27 unlts shall continue to be used for houslng for low lncome persons
for the useful llfe of the bUlldlngs, but in no event less than 20
years. As many unlts as feaSlble shall be rehabilitated for low lncorne
famllles...."; and,
W~EREAS, by an agreement dated March 31, 1977, the
Redevelopment Agency agreed to comply with thlS condltion: and,
WHEREAS, the acceptance of the transfer of the twenty-seven
unlts and appurtenant property from the Parklng Authorlty of the Clty
of Santa Monlca wlll facllltate the rehabllltatlon of the twenty-seven
unlts and the furtherance of ProJect Ob]ectlves: and,
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WHEREAS, the Parklng Authorlty has condltioned the transfer
of the twenty-seven un1ts on the execut10n of an Agreement to Pay by
the Redevelopment Agency 1n the amount of Five Hundred Thousand Dollars
($500,000) .
NOW, THEREFORE, BE IT RESOLVED BY THE REDEVELOPMENT AGENCY
OF THE CITY OF SANTA MONICA THAT:
SECTION 1. The Redevelopment Agency does hereby determlne
that the transfer of the property at 175 Ocean Park Boulevard 1S of
benef1t to the Ocean Park Redevelopment ProJect l(a) and l(bj.
SECTION 2. The Redevelopment Agency does hereby accept the
transfer of the property at 175 Ocean Park Boulevard from the Parklng
Authority.
SECTION 3. The Redevelopment Agency does hereby authorize
the Executlve D1rector to execute an Agreement to Pay to the Parklng
Author1ty ln the amount of Five Hundred Thousand Dollars ($500,000) as
cons1derat1on for the transfer of the property.
SECTION 4. The Execut1ve Director 1S hereby authorized to
effect the acceptance of the transfer of the property at 175 Ocean
Park Boulevard and to execute all documents and instruments, and to
take all steps necessary to 1mplement the transfer.
SECTION 5. The Cha1rman shall slgn and the Secretary shall
attest to th1S resolut1on, and thereafter the same shall be in full
force and effect.
ADOPTED and APPROVED this
APPROVED AS TO FORM:
, 1980.
day of
Redevelopment Agency Attorney
CHAIRMAN
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ATTEST:
Secretary
I hereby certlfy that the foregolng resolution was
duly adopted by the Redevelopment Agency of the Clty of Santa Monlca
at a regular meetlng thereof, held on the day of
1980, by the followlng vote of the Agency:
AYES:
Member:
NOES:
Member:
ABSENT:
Member
Secretary
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