SR-6-I (38)~~~ ~~r~~
PCE7 SF•RES f IPLANISHAREITORCAIfnmaplfmtpc240 wpd
Council Mtg August 12, 1997
TO Mayor and City Councrl
FROM C~ty Staff
A~JG 1 Z ~7
Santa Monica, California
SUBJECT Recammendation to Adopt ResoEUtion A~praving Final Map for Tenant-
Par~icipating Convers~on TPC-240 af 2625 4tF~ Street
INTRODUCTION
This report transmits for City Counc~l appraval a Final Map for the followcng Tenant-
Rartic~pafing Conversion pro~ect
Tract NQ, TPC N0. ADDRESS WNER UNfTS
51384 240 2625 4th Street Patncia Hill 5
BACKGROUND
The City Planning Commission appro~ed the Tentative Map and the Te~ant-Participating
Conversion for the abo~e pro~ect on September 30, 1992, after a public hearing and a
carefui revrew of the record anaf staff ~'ecommendatior~s The actron of the Planr~mg
Commission was based an the Commission's fEndings that the proposed Tenant-
Participa#~ng Conversion meets the requiraments ~f Article XX of the C~ty Charter and that
the proposed subd~vision is consistent with applicable general and specific plans as
adapted by the City of Santa Mornca along with a11 mandatory requirements af the
Subdi~ision Map Act of the State of Cafifom~a
1
AUG t 2 ~9?
The ovrmers have submitted ko the City a Written Consent Agreement b~ndmg the owners
and any successors m mterest to each condition imposed in connection with approval af
this Tenant-Participat~ng Con~ersion This Written Consent t~as been approved by t~e
City Attorney and the City Manager Each participatmg tenant has been informed in wntmg
of has or her rights under Article XX of the C~ty Charter The License Di~GS~on reparts that
~roper arrar~gements have beer~ made to ensure payment of the Tenant-Participating
Canv~rs~on Tax
The Final Map conforrns to the Tentati~e Map The Finai Map has been certified by the
City Engineer for confarmance with the Tentative Map and conditions thereon, the
SubdivisEOn Map Act and Eacal ordGnances The C~ty Attorney's office has approved a
Declaration of Cavenants, Conditions, and Restrictions, or equivaleni document, far this
pra~ect as complying wifh the conditions of the Tentative Map and the Tenant-Participating
Cor~version
Cauncil appro~al of a final map for a Tenant-ParficipatEng Canversion represents one of
the last steps necessary ir~ the con~ersEOn process Following Ci#y Council action and
approval by the California Department ~f Real Estate the appl~cants may begin sell~ng their
ur~its to the tenants As each unit is sold a conWersion tax per Sectian 20a8 of Article XX
Es due in an amount equal to twef~e times the monthly maximum allowable rent for that
unit These taxes will be used #a ass~st low and moderate income households to purchase
or improve their units sub~ect to affordable repayment per Section 2009 ot Article XX
2
BUDGETIFISGAL IMPACT
The recommendation presented in thas repork does not ha~e an immediate budget or fiscal
impact If and as units in the pro~ect are sald m the future, Tenant-Pa~t~cipat~ng
Can~ersion Taxes wil~ be collected pursuant to the provGSions of Article XX of the City
Charter and some increased property tax re~enues may be generated
RECOMMENDAT~ON
lt is respectfully ~ecommended tf~at the Fina[ Map for th~s Tenant-ParticEpatang Conversion
be approved by adoption of the accompanying resolution
Prepared by S~zanne Frick, D~rectar of PCD
Gina Szilak, Assistant Planner
City Plannmg Di~ision
Planning and Community Develapment Department
Attachment A Resalution Accepting and Appro~Eng Final Map
3
RESQLUTION NO g176 (ccs ?
(C~ty Counc~l Seriesa
A RESDE.UTION OF THE CITY COUNClL
OF THE CITY OF SANTA MONICA
ACCEPTING AND APPROVING
A FINAL SUBDIVISION MAP FOR TRACT NO 51384
AT
2625 4th Street
THE CfTY COUNCIL OF THE CITY QF SANTA MONICA DOES RESOLVE AS
FOLL~WS
SECT~~N 1 That the F~nal Map fo~ Tract No ~1384 in the City of Santa Monica
hereby is accepted and appro~ed
SECTION 2 That the City Clerk hereby fs authonzed ar~d directed to endorse
upon the face af sard Map th~s order authenticated by the Seal of the Crty of Santa Monica
SECTION 3 That tt~e City Clerk sha~i certa#y to the adop#ion of thrs Resolution,
and #F~enceforth and thereafter the same shall be in full force and effect
APPROVED AS TO FQFiM
~ ~11
M RSF-~4 JO~S MOUTRIE
C y Attorney
!
~dopted and appro<<ed this 12nd of ~ugust 1997
[
~ _ ~ ~~~~-~ ~_
P~m O'Gonnor_ '~ia~-or
1
I_ I~•laria l~1 Stev~-art. Cit~• Glerk of the Citt~ of Santa Vian~ca, do t~ereb~~ certifl• that the
foregoing Resolut~on 9176(CCS} ti~~as dulv adopted at a meetin~ of the Grt~- Council held on ~he
1~nd of ~~~ust_ 1997 b~~ tl~e follo«~n~ ~°ote
:~.~-es Councilmembers Ebner. Feinstein. Genser. Greenberg. :~~ayor Pro Tem
Holbrook. R-ia~~or O'Connor. Rosenstein
~1oes Councilmembers None
:~bstain Councilmembers IvTone
Absent Cauncilmembers I`one
~TTEST
~ ~~~-~-;-r-~ , ,
Vlana VI_ Stev~~art, C~t~-`Clerk