SR-6E (10)PCD:SF:DKW:DB:\PLAN\SHARE\TORCA\fnmap\tp29Sfm
Council Mtg: May 23, ~995 Santa Monica, Califoxnia ~a~ ~ 3~
Tp: Mayor and Czty Council
FROM: City Staf~
SUBJ~CT. Recommendatzon to Adapt Resolution Approv~ng Final Map
for Tenant-Par~icipating Conversior_ TPC-295 at ~120 24th
Street.
INTRODUCTION
Th~.s repor~. transmi~.s for C~ty Counci~ appraval a Final Map for the
~ollowing Tenant-Participatir_g Conversion project
~'ract No. TPC NO ADDRESS OWNER 'CTNITS
TM 51.395 295 17.20 24th Street M. Lyubavny & 5
E. Konstantinavsky
BACKGROUND
The City Planning Co~missa.on approved th~ Tentative Map and 'the
Tenant-~articipating Conversion for the above pro~~ct on May 19,
1993, after a public hearing and a careful review of the r~cord and
staf= recommendations. The ac~ion of the Planning Cammission was
based on the Comm~ssion's findings that the proposed Tenant-
Participating Convers~on meets ~he requirzments of Article XX of
the City Charter and that the proposed subdiva.sion is consistent
with applicable general and spzcif~c plans as adopted by ~he City
of Santa Monica along wi~h all mandatory requ~.rements of the
Sulad~visian Map Act of the State of Californ=a.
The owners have sul~mit~ed to the City a Written Consent Ag~eernent
binding the owners and any successors in interest to each condition
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MAY ~ 3 1~
F
impdsed in connec"tian with approval of tn~s Tenant-Participating
Conversion. This Written Consent has been approved by th~ City
Artorney and the City Manager. ~ach participating tenant has been
informed in writing of his or her rights under Ar~icle xX af the
City Charter. The License Division reports that proper
arrangements have been made ta ensure payment of the Tenant-
Par~icipat~ng Conversion Tax.
The Final Map conforms to the Tentative Map. The Flna~ Map has
been certified by L:~e City Engineer for conformance with the
Tenta~ive Map and conditians therecn, the Subdivision Map Act and
local ordinances. The City Attorney`s office has appraved a
Declaration a£ Covenants, Conditions, and Rest~~ctions, or
eauivalent document, for this pra,ect as complying with the
cond~tions of the Tentatzve Map and the Tenant-Participating
Conv~ rsion.
Counca.l approval of a final map for a Tenant-Participating
Conv~rszon rep~esents one of ~h~ last steps necessary zn the
conversion pr~cess. Following City Counci? act~on and approval by
the Caiifornia Department of Real Es~ate the applicants may begin
sell~ng ~he~r ur_i~s to the tenar~ts. As each unit is sold a
conve~'sian tax per Section 2008 of Article XX is due in an amount
equa~ to twelve tiMes the monthly maxirnum allowable rent for that
urit. These taxes wlll ~e used to assist low and moderate incarne
housezolds to purchase or improve their units subjec~ to affordable
2
~epayment per ~ection 2009 of Article XX
BUDGET/FISCAL IMPACT
The r~commendatian presented ~n this report does not have an
immediate budget o~ f~scal ~mpact. If and as units in the project
are sold ir the future, Tenant-Part~cipating Conversion Taxes w~ll
be collected pursuant to the prov~sions of ArtYCle XX af the City
Chartez and some =ncreased property tax revenues may be generated.
RECOMMENDATION
It is respectfully recornmended tha~ the Final Map for this Te~ant-
Part~cipating Conversion be approved by adop~ion af the
accompanying resolution.
Prepared by: Su~anne Frick, Director of PCD
D. Kenyon Webster, Planning Manager
Drummon3 Buckley, Associate Planner
Planning and Zoning Division
Plann~ng and Community Developrnent Department
f:\pZan\share\tarca\rn~ap\tp29~fm
3
~ESCL`JTICN ~:a ~9ao ~ ccs~
~;City Counc~I ~eri~s;
A :c=SGLJTICN ~~~ '".-iE CITY ~OUNCIL
Gr "_'~E ~ITY C~ G~.NTA ~fONICA
ACC~PTING AND APPROVING
A FINAL SUBD?VISIO~: MAP FOR TRACT NO 51395
AT 112 0 2 4'I'H STRE~,T
THE ~T_1Y COUNCIL OF THE C~TY OF Sr~NTA MONICA DOES F2ESOLVE AS
FOLLOWS:
SECTION 1. "'har ~.he Firal Map for Trac4 Na. 51395 in the City
~f Santa Mcnica herz~y is accep~ec~ and annrcved.
SECTTCN ~. T~a4 the ~i~.y Clerk herei~y is authorized and
direcZed ~o endorse upor~ t:e face o~ said Na~ this order
autr:enticated by t;~e SAal ~~ ~~.e ~~ty o~ Santa ~onica
SECT~ON 3. 'I'hat ~he Ci~y C12rk tiha~~ certify `~ ~he adopt~cn
~f ~h~s R~solution, ~r~d ;hencefcrt~ and thereafter 4he ~ame shail
.
e~n full force an 2 2ct.
APPRCVLD AS i0 FCRri
J ~~-~.EVtf~-C.l
MARSHA JON MOUTRI~
C-ty Attorn~y
db/TP295FM
~dopted and appraved this 23rd of l~ar, 1995
~ ~
Mavor
I hereby certifv that the foregoing Resolut~on 8900 (CCS) «~as duIy adopted at a meeting
of the City Cauncil held on the 23rd of 1~1ay, 1995 b~• the follow~ng vote
-~yes Counc~l members ~bdo_ Ebner, Genser, Greenberg, Holbrook. O'Connor_
Rosenstein
Noes Council members None
:~bstatin Cous~ci~ members No~e
Absent Council memhers ~one
:~TTEST
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