R-8414
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CA:RMM:1ncljhpadv
city Council Meeting
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Santa Monica, California
RESOLUTION NUMBER 8414 (CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA ESTABLISHING THE
INCLUSIONARY UNIT BASE PRICE
WHEREAS, the City Council of the City of Santa Monica
adopted Ordinance Number 1615 (CCS) on March 3, 1992 amending
Chapter 4A of the Municipal Code relating to the Inclusionary
Housing Program; and
WHEREAS, Santa Monica Municipal Code section 9426(c)
prov1des that the City Council by Resolution shall establish and
adjust from time to time the inclusionary unit base price for
purposes of determining in lieu fees based upon the cost to the
City of subsidizing the construction of a new residential unit;
and
WHEREAS, the City Council finds that the average City
SUbSldy per unit for new construction projects of affordable
housing over the past three years is approximately $51,000;
NOW I THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA
MONICA DOES RESOLVE AS FOLLOWS:
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SECTION
1. _ The
inclusionary
unit-base
price
for
determining in lieu fees pursuant to Santa Monica Municipal Code
Section 9426 is $51,000.
SECTION 2. The city Clerk 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
City Attorney
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Adopted and approved this 9th day of June, 1992.
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Mayor
I hereby certify that the foregoing Resolution No. 8414(CCS)
was duly adopted by the city Council of the city of Santa Monica
at a meeting thereof held on June 9, 1992 by the follmving
Council vote:
Ayes: councilmembers: Abdo , Genser, Holbrook, Olsen,
Vazquez, Zane
Noes: Councilmembers: Katz
Abstain: Councilmembers: None
Absent: Councilmembers: None
ATTEST:
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