R-7405
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RESOLUTION NO.7405 (CCS)
(CITY COUNCIL SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA
MONICA TRANSFERRING PROPERTY OF THE PARKING AUTHORITY
TO THE CITY
WHEREAS, the Parking Authority of the city of Santa Monioa
is the owner of certain real property located at 1121-35 Third
Street in the City of santa Monica; and
WHEREAS, given the location of suoh property it is not
eoonomic 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 the exist-
ing number of pUblic parking spaoes for parking purposes; and
WHEREAS, the City of Santa Monica desires to sell the air
rights over the Property to Retirement Housing Foundation ("RHF")
for purposes of developing senior housing under the U.S. Depart-
ment of Housing and Urban Development (HUD) Section 202/8 Pro-
gram; 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 CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION l. Upon the approval of RHF's application for loan
funds for the development of senior housing units under the HUD
section 202/8 Program, the property located at 112l-35 Third 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 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:
(L.tlrJ: M. ~- - -4
Robert M. MyersV
City Attorney
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I hereby certify that t e foregoing Resolution No. 7405(CCS)
28th day of April, 1987.
Adopted and approve
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was duly adopted by the city
of the City of Santa Monica
at a meeting thereof held on April 28, 1987 by the following
Council vote:
Ayes: Councilmembers:
Jennings, Finkel, A. Katz, H.
Katz, Reed, Zane and Mayor Conn
Noes: Councilmembers:
None
Abstain: Councilmembers:
None
Absent: counoilmembers:
None
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