SR-6-E (68)
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, JAN 1 1 1994
LUTM:SF:DKW:F:\PLAN\SHARE\TORCA\FNMAP\FMTPC289
Council Mtg: January II, 1994 Santa Monlca, California
TO: Mayor and City Council
FROM C~ty Staff
SUBJECT. Recommendation to Adopt Resolution Approving Final Map for
Tenant-Partic~patlng Conversion TPC-289 at 511 San V1cente
Boulevard
INTRODUCTION
This report transm1ts for City Council approval a F1nal Map for the
following Tenant-Part1c1pating Conversion proJect:
Tract No. TPC NO. ADDRESS OWNER UNITS
51581 289 511 San The Montana, 21
V1cente A California
Boulevard Lim1ted partnersh1P
BACKGROUND
The C1ty Plann1ng Comm1ssion approved the Tentative Map and the Ten-
ant-Participat1ng Converslon for the above project on Apr1l 7, 1993,
after a publlC hearing and a careful review of the record and staff
recommendatlons. The act10n of the Planning Commission was based on
the Commission'S f1ndlngs that the proposed Tenant-Participat1ng
ConverSlon meets the requ1rements of Article XX of the C1ty Charter
and that the proposed subdivision 1S consistent with applicable
general and specific plans as adopted by the Clty of Santa Monica
along wi th all mandatory requ1rements of the Subdivision Map Act of
the State of Californla.
The owners have submltted to the City a Wrltten Consent Agreement
b1nding the owners and any successors 1n interest to each conditlon
JAM 1 1 1994
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lmposed in connectlon with approval of this Tenant-Participating Con-
verSlon. ThlS Written Consent has been approved by the City Attorney
and the City Manager. Each participatlng tenant has been informed in
wrlting of hlS or her rlghts under Artlcle XX of the Clty Charter.
The Llcense D1V1Slon reports that proper arrangements have been made
to ensure payment of the Tenant-Particlpating Conversion Tax.
The Final Map conforms to the Tentatlve Map. The Final Map has been
certified by the City Englneer for conformance wlth the Tentatlve Map
and conditions thereon, the Subdivision Map Act and local ordinances.
The City Attorney's office has approved a Declaration of Covenants,
Conditlons, and Restrlctlons, or equlvalent document, for this proJ-
ect as complYlng with the conditions of the Tentative Map and the
Tenant-Participatlng ConverSlon.
Councll approval of a final map for a Tenant-Participating Conversion
represents one of the last steps necessary in the conversion process.
Followlng City Councll action and approval by the California Depart-
ment of Real Estate the applicants may begin selling thelr units to
the tenants. As each unit is sold a convers~on tax per Section 2008
of Artlcle XX lS due in an amount equal to twelve tlmes the monthly
maximum allowable rent for that unlt. These taxes will be used to
assist low and moderate lncome households to purchase or lmprove
their unlts subJect to affordable repayment per Section 2009 of Arti-
cle xx.
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BUDGET/FISCAL IMPACT
The recommendatlon presented in thls report does not have an immedi-
ate budget or fiscal impact If and as units in the project are sold
in the future, Tenant-Participating Conversion Taxes will be col-
lected pursuant to the provisions of Article XX of the City Charter
and some increased property tax revenues may be generated.
~ECOMMENDATION
It lS respectfully recommended that the Flnal Map for this Tenant-
Partlclpatlng Conversion be approved by adoptlon of the accompanYlng
resolution.
Prepared by: Suzanne Frick, Actlng Dlrector of LUTM
D. Kenyon Webster, Plannlng Manager
Susan Healy Keene, ASslstant Planner
Plannlng and Zoning Divislon
Land Use and Transportatlon Management Department
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RESOwlJTION NO 8706 (CCS)
(City Cauncll Serles)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING k~D APPROVING
A FINAL S~~DIVISION MAP FOR TRACT NO.51581
AT Sll SAN VICENTE BOULEVARD
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
?OLLOWS.
SECT:ON 1. ~hat the Final Map for Tract No.51581 in the City of
Santa ~onlca hereby is accepted and approved.
SECTION 2. T~at the City Clerk hereby lS authorlzed and direct-
ed to endorse upon the face of said Map thls order authenticated by
the Seal of the Clty of Santa Monica.
SECTION 3. That the City Clerk shall certify to the adoptlon of
t:his Resolution, and thenceforth and thereafter the same shall be in
full force and effect.
A?PROVED AS TO FORM:
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JQS~P LA*RENck
A~ Clty Attorney
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Adopted and approved IDIS 11 th day of January. 1994
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P. Mayor
I hereby certIfy that the foregomg ResolutIOn No 8706 (CCS) was duly adopted at a
meetIng of the CIty Councll 11th day of January. 1994 by the followmg vote
Ayes CouncIlmembers Abdo, Genser, Greenberg, Holbrook. Olsen. Rosenstem
Noes Councllmembers
Abstam Councllmembers
Absent Councllmembers Vazquez
ATTEST
-~tw&.Z L:4f~
CIty Clerk