SR-6-D (65)
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NO\; . I~Jj
LUTM:SF.DKW.SHK'F'\plan\share\torca\FMTPC277 Santa Mon~ca, Ca11fornia
Council Mtg.November 23, 1993
TO: Mayor and City Counc11
FROM: C1ty Staff
SUBJECT' Recommendation to Adopt Resolution Approving F1nal Map
for Tenant-Part1c1pat1ng Conversion TPC-277 at 1007
Twentleth Street.
INTRODUCTION
Th1s report transffilts for Clty Counc~l approval a Final Map for the
following Tenant-Partic1pat1ng ConverS1on proJect:
Tract No. TPC NO. ADDRESS OWNER UNITS
51455 277 1007 Twentieth I. Afar, J 10
& F. Soofer
BACKGROUND
The City Plann1ng Commlssion approved the Tentative Map and the Ten-
ant-Partlcipating Conversion for the above project on November 4,
1992, after a public hear1ng and a careful reVlew of the record and
staff recommendat1ons. The act10n of the Planning Commission was
based on the Comm1SS1on's f1nd1ngs that the proposed Tenant-
Partic~patlng Conversion meets the requ1rements of Article XX of the
City Charter and that the proposed subd1v1sion is consistent w1th
applicable general and speclf~c plans as adopted by the City of Santa
Monica along with all mandatory requirements of the Subd~v~sion Map
Act of the State of California.
'Jrv .~ i 9 93
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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 approval of this Tenant-Particlpatlng Con-
version. This Written Consent has been approved by the City Attorney
and the C1ty Manager. Each participating tenant has been informed In
writing of his or her rights under Article XX of the City Charter.
The License Divlsion reports that proper arrangements have been made
to ensure payment of the Tenant-Part1c1pat1ng Conversion Tax.
The Flnal Map conforms to the Tentative Map. The Final Map has been
certifled by the City Engineer for conformance with the Tentative Map
and conditions thereon, the Subdivision Map Act and local ord1nances.
The City Attorney's office has approved a Declaratlon of Covenants,
Conditions, and Restrlctlons, or equlvalent document, for thlS proj-
ect as complYlng w1th the cond1t1ons of the Tentat1ve Map and the
Tenant-Participat1ng ConverS1on.
Council approval of a f1nal map for a Tenant-Participating ConverS1on
represents one of the last steps necessary in the conversion process
Following City Counc1l act10n and approval by the Callfornia Depart-
ment of Real Estate the appllcants may beg1n selling their unlts to
the tenants As each un1t 1S sold a conversion tax per Section 2008
of Art1cle xx 1S due in an amount equal to twelve tlmes the monthly
maximum allowable rent for that unit. These taxes wlll be used to
assist low and moderate lncome households to purchase or lmprove
thelr un1ts subject to affordable repayment per Section 2009 of Arti-
cle xx.
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BUDGET/FISCAL IMPACT
The recommendation presented in this report does not have an immed1-
ate budget or fiscal impact. If and as units 1n the project are sold
in the future, Tenant-Part1c1pat1ng Convers1on Taxes w1ll be col-
lected pursuant to the provisions of Article XX of the City Charter
and some 1ncreased property tax revenues may be generated.
RECOMMENDATION
It 1S respectfully recommended that the F1nal Map for th1s Tenant-
Part1c1pat1ng Conversion be approved by adoption of the accompanying
resolution.
Prepared by Suzanne Frick, Acting D1rector of LUTM
D. Kenyon Webster, Plann1ng Manager
Susan Healy Keene, Assistant Planner
Planning and Zoning Divis10n
Land Use and Transportat1on Management Department
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R3S0LUTION NO. 8682 (CCS)
(C1ty Counc1l Ser1es)
A RESOLU~ION OF THE CITY COUNCIL
OF THE C::::TY OF SANTA MONICA
ACCE?TING A1~D APPROVING
A FINAL Su~DIV=SION MAP ~OR TRACT NO. 51455
AT 1007 Twentieth Street
THE C:':'Y COUNCIL OF ?:IE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS'
SECTION 1 That the F:":J.al Man for Tract ~o. 5:::"455 In the City
of Santa Xon~ca hereby 15 accepted and approved.
SECTION 2. That the C:..ty Clerk hereby 1S authorlzed and d1rect-
ed to er-.dorse upon the face of sald Map thlS order authenticated by
the Seal of the City of Santa Monlca.
SECTION 3 That the C1ty Clerk shall certify to the adoption of
thlS ResolutJ..on, and thenceforth and thereafter the same shall be in
f~ll force and effect.
APPROVED AS TO FORM:
JO~~
Act1ng Clty Attorney