SR-6-O (17)PCD SF SHK f IPLANISHAREITORCAIfnmapltpc272
Council Mtg August i2, 1997
TO Mayor and City Council
FROM City Staff
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AUG f 2 1~l
Santa Manica, Cal~fornia
SUBJECT Recommendation to Adopt Resolution Approving Final Map for Tenant-
PartECipating Con~ersion TPC-272 at 1432 Yale Street
INTR D TI N
This ~eport transmats for City Councii appro~al a Final Map for the following Tenant-
Participating Canversion pro~ect
Tract No TPC N0. ADDRESS
51272 272
~ 432 Yale Street
BACKGR~UNQ
OWNER UNITS
Marie H Koer~ig 7
The C~ty Planning Camm~ssion appro~ed the Tentative Map and the Tenar-t-Participating
Canversion far the aba~e pro~ect on January 1fi, 1993, after a public hearEng and a careful
re~iew af the record and staff recommendations The action of the Planning Commrss~on
was based on the Comm~ssion's frndings that the proposed Tenant-Participating
Convers~or~ meets the requirements of Article XX of the Crty Charter and that the proposed
subdivis~on is consistent w~th applicable general and specific plans as adopted by the City
of Santa Monica along w~th all mandatory requ~rements af the Subdr~isian Map Act of tf~e
State of Califomia
~
AUG ~ Z 199~
The owr}ers ha~e subm~tted to the City a Wri#ten Consent Agreement bind~ng the owners
and any successors in interest to each condition Emposed in connection with appro~al of
this Tenant-Part~cipating Conversion This Wr~tten Consent has been approved by the
City Attomey and the City Manager Each partrcipating tenant has been ~nfarmed in wr~#~ng
of ~is or her r~ghts under Art~cle XX of the C~ty Charter The L~cense Division reports fF~at
praper arrangements ha~e been made ta ensure payment of the Tenant-Participatmg
Conversion Tax
The Final Map conforms ta the Tentat~ve Map The Finaf Map has been certified by th~
C~ty Engineer for conformance w~tl~ the TentativE Map and conditions thereon, the
Subd~vision Map Act and local ardinances The City Attorney's office has approved a
Declaration of Cavenants, Conditions, and Restrictions, or equi~alent document, fior this
pro~ect as complying with the condrt~ons of the Tentatrve Map and the Tenant-Participating
Conv~rsEOn
Cauncil approval of a final map far a Tenant-Participat~ng Convers~on represe~ts one of
the last steps necessary m the con~ersion process Follow~ng City Council action and
approval by tY~e Cal~forrna Department of ReaV Estate the appiicants may begm selhng therr
urnts to the tenants As each unit is sold a cor~version tax per Section 2008 of Article XX
is due in an amount equal t~ twelve times the monthly maximum allowable rent for that
un~t These taxes wifl be used to ass~st low an~l moderaie ~ncome housel~olds to purchase
or impro~e the~r units sub~ect to affordable repayment per Sectian 2009 of Article XX
2
BUDGETIFISCA~ IMPACT
The recommendation presented in this report does nat ~a~e an immediate budget ar fiscal
impact 1~ and as units in the pra~ect are sold ~n the future, Tenant-Participating
Conversion Taxes will be collected pursuant to the pravisions of Article XX of the City
Ct~arter and some increased property tax rever~ues may be generated
RECQMMENDATIQN
It is respectFully recommende~ that the Final Map for this Tenant-Participatmg Conversian
be appro~ed by adoption of the accom~anying resolutior~
Prepar~d by Suzanne Frick, Director af PCD
Karen G~nsberg, Plar~nrng Manager
Susan Healy Keene, Associate Planrter
City Plann~Rg D~v~sion
Planning and Community De~elopment Department
Attachment A Resolution Acc~pting and Approving F~nal Map
3
RESOLUTION NO 9~~2 (CCS}
{City Counc~l Series)
A RES~LUTiON OF THE CITY COUNCI~
OF THE CITY OF SANTA MONlCA
ACCEPTING AND APPROVING
A FINAL SUBDIVISION MAP ~OR TRACT NO 51272
AT
1432 YA~.E STREET
THE CITY COUNGIL Q~ THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS
SECTION 1 That the Final Map for Tract No 51272 in the C~ty of Santa Monica
hereby is acce~ted and appro~ed
SECTION 2 That the C~ty Clerk hereby is authonzed and d~rec#ecf to endarse
upon the face of said Map tF~~s order authenticated by the Seal of the City of Santa Monica
SECTI~N 3 T~at #he City Cierk sha!! certify ta the adap#ian of this Resolution,
and thenceforth and thereafter the same sha~l be ~r~ full farce and effect
APPROVED AS TO FORM
yUU
M~SHA J h~S MOUTRIE
City Attvrney
:~dopted and approt~ed this 12nd of August 1997
~
: ~ - --
Pam O'Gonnor. i~ia~~or
t
I. NTar~a ~-i Ste~art, C~t~~ Clerk af the C~t~- of Santa ~tomca. do hereb~• certifi~ that the
foregoin~ Resolution 9182 (CCS} «as dul~~ adopted at a meeting of the Ctt~~ Council held on the
12nd of August. i 997 b~• the follau in~ ~~ ate
A~-es Councilmembers
~oes Gounciimembers
:~bstain Councilmembers
~bsent Councilmembers
Ebner. Feinstem, Genser, Greenberg. ~~1a~~or Pro Tem
Holbrook. ~1a~~or O"Connor. Rosenstem
'~ one
None
~ione
ATTEST
~~~ ~~~
l~lana ~~ Ste«-art, Crt<<~lerk