SR-6-C (106)
6C -
NOY 1 ~ 1995
PCD:SF:DKW:f:\PLAN\SHARE\TORCA\fnmap\tpc307
Council Mtg: November 14, 1995 Santa Monlca, Callfornia
TO: Mayor and City Council
FROM: Clty Staff
SUBJECT: Recommendatlon to Adopt Resolution Approving Final Map
for Tenant-Partlcipatlng Conversion TPC-307 at 817 18th
Street.
INTRODUCTION
ThlS report transmits for Clty Councll approval a Flnal Map for the
following Tenant-Partlcipating ConverSlon project:
Tract No TPC NO. ADDRESS OWNER UNITS
51813 307 817 18th Street S. and C. Shu seven
Living Trust
BACKGROUND
The Clty Plannlng Commisslon approved the Tentatlve Map and the Ten-
ant-Partlcipatlng ConverSlon for the above project on February 23,
1994, after a publlc hearlng and a careful reVlew of the record and
staff recommendatlons. The actlon of the Planning CommlSSlon was
based on the CommlSSlon's findings that the proposed Tenant-
Partlcipatlng ConverSlon meets the requirements of Article XX of the
City Charter and that the proposed subdlvislon lS conslstent wlth
appllcable general and speclflc plans as adopted by the City of
Santa Monlca along with all mandatory requirements of the
Subdivlsion Map Act of the State of Californla.
,
The owners have suhmltted to the Clty a Written Co~sent Agreement
binding the owners and any successors in interest to each condition
1 NOV '" 1995
6C
lmposed in connection wlth approval of this Tenant-Partlclpating
Conversion. Th1S Written Consent has been approved by the City
Attorney and the Clty Manager Each participatlng tenant has been
informed 1n writlng of h1S or her rights under Artlcle XX of the
City Charter. The Llcense D1 V1S1on reports that proper arrangements
have been made to ensure payment of the Tenant-Participatlng
Conversion Tax.
The Final Map conforms to the Tentative Map. The Final Map has been
certlfled by the Clty Englneer for conformance wlth the Tentative
Map and cond1tions thereon, the Subdivlslon Map Aet and local
ordlnances. The City Attorney's offlce has approved a Declaratlon
of Covenants, Conditions, and Restrictlons, or equlvalent document,
for this project as complYlng with the condltions of the Tentat1ve
Map and the Tenant-Partlcipatlng Conversion.
Council approval of a final map for a Tenant-Particlpatlng
ConverSlon represents one of the last steps necessary in the
converSlon process. Followlng Clty Councll action and approval by
the California Department of Real Estate the appllcants may beglD
selling thelr un1ts to the tenants. As each un1t is sold a
conversion tax per Seetlon 2008 of Article XX 18 due 1n an amount
equal to twelve tlmes the monthly maximum allowable rent for that
unit. These taxes will be used to asslst low and moderate income
households to purchase or improve thelr UDlts subject to affordable
repayment per Sectlon 2009 of Artlcle XX.
2
BUDGET/FISCAL IMPACT
The recommendation presented in thlS report does not have an immedi-
ate budget or flscal lmpact. If and as unlts ln the proJect are
sold ln the future, Tenant-Partlclpating Conversion Taxes will be
collected pursuant to the provlsions of Article XX of the City
Charter and some lncreased property tax revenues may be generated.
RECOMMENDATION
It is respectfully recommended that the Flnal Map for thlS Tenant-
Partlcipating ConverSlon be approved by adoptlon of the accompanYlng
resolution.
Prepared by: Suzanne Frlck, Dlrector of PCD
D. Kenyon Webster, Plann~ng Manager
Glna SZllak, Asslstant Planner
Plannlng and Zonlng Dlvlsion
Planning and Community Development Department
f:\plan\share\torca\fnmap\tpc307
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RESOLUTION NO. 8955 (CCS)
(City Counc~l Series)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING AND APPROVING
A FINAL SUBDIVISION MAP FOR TRACT NO. 51813
AT
817 18th STREET
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS:
SECTION 1 That the Flnal Map for TRACT NO. 51813 in the Clty
of Santa Mon~ca hereby 1S accepted and approved.
SECTION 2. That the Clty Clerk hereby 1S authorized and
directed to endorse upon the face of sald Map thlS order
authentlcated by the Seal of the Clty of Santa Monica.
SECTION 3. That the Clty Clerk shall certlfy to the adoption
of thlS Resolutlon, and thenceforth and thereafter the same shall
be in full force and effect
APPROVED AS TO FORM.
" . -< 1 ;"" , I'
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If: --t:l._,-< IL ,,,---- j.-71.-L--^-~ VL-l :.,..--f'J.--./ ~
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MARSHA JONEp MOUTRIE
City Attorney
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Adopted and approved tills 14th of November, 1995
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Mayor
I hereby certIfy that the foregomg ResolutlOn 8955 (CCS) was duly adopted at a meetmg
of the CIty CouncIl held on the 14th of November, 1995 by the followmg vote
Ayes CouncIl members Abdo, Ebner, Genser, Greenberg, Holbrook, O'Connor,
Rosenstem
J\oes CouncIl members None
Abstam Counctl members None
Absent CouncIl members None
ATTEST
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CIty Clerk
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