SR-404-001 (6)PCD:SF:RES:f:\PLAN\SHARE\TORCA\FNMAP\tpc310.wpd
Council Mtg: February 8, 2000 Santa Monica, California
TO: Mayor and City Council
FROM: City Staff
SUBJECT: Recommendation to Adopt Resolution Approving Final Map No. 23890 for
Tenant-Participating Conversion TPC-310 at 1929 6th Street.
INTRODUCTION
This report transmits for City Council approval a Final Map for the following
Tenant-Participating Conversion project:
Parcel No. TPC NO. ADDRESS OWNER UNITS
23890 310 1929 6th Street Marcia L. Stein 4
BACKGROUND
The City Planning Commission approved the Tentative Map and the Ten-
ant-Participating Conversion for the above project on November 2, 1994, after a public
hearing and a careful review of the record and staff recommendations. The action of
the Planning Commission was based on the Commission's findings that the proposed
Tenant-Participating Conversion meets the requirements of Article XX of the City
Charter and that the proposed subdivision is consistent with applicable general and
specific plans as adopted by the City of Santa Monica along with all mandatory
requirements of the Subdivision Map Act of the State of California.
The owners have submitted to the City a Written Consent Agreement binding the
owners and any successors in interest to each condition imposed in connection with
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approval of this Tenant-Participating Conversion. This Written Consent has been
approved by the City Attorney and the City Manager. Each participating tenant has
been informed in writing of his or her rights under Article XX of the City Charter. The
License Division reports that proper arrangements have been made to ensure payment
of the Tenant-Participating Conversion Tax.
The Final Map conforms to the Tentative Map. The Final Map has been certified by
the City Engineer for conformance with the Tentative Map and conditions thereon, the
Subdivision Map Act and local ordinances. The City Attorney's office has approved a
Declaration of Covenants, Conditions, and Restrictions, or equivalent document, for this
project as complying with the conditions of the Tentative Map and the
Tenant-Participating Conversion.
Council approval of a final map for a Tenant-Participating Conversion represents one of
the last steps necessary in the conversion process. Following City Council action and
approval by the California Department of Real Estate, the applicants may begin selling
their units to the tenants. As each unit is sold, a conversion tax per Section 2008 of
Article XX is due in an amount equal to twelve times the monthly maximum allowable
rent for that unit. These taxes will be used to assist low and moderate income
households to purchase or improve their units subject to affordable repayment per
Section 2009 of Article XX.
BUDGET/FISCAL IMPACT
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The recommendation presented in this report does not have an immediate budget or
fiscal impact. If and as units in the project are sold in the future, Tenant-Participating
Conversion Taxes will be collected pursuant to the provisions of Article XX of the City
Charter and some increased property tax revenues may be generated.
RECOMMENDATION
It is respectfully recommended that the Final Map for this Tenant-Participating
Conversion be approved by adoption of the accompanying resolution.
Prepared by: Suzanne Frick, Director of PCD
Jay Trevino, Planning Manager, AICP
Gina Szilak, Assistant Planner
City Planning Division
Planning and Community Development Department
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