SR-01-09-1996-6D
60
-
PCD:S::DKW:SE~ = \pla~\s~are\to~ca\fnmap\fmtpc279 JAN 0 9 1996
Cour..c:..l Y1cg Jall~Ja~:i --' f 1995 Santa MOTI1Ca, Califorrlla
TO ~ayor and C~~y Counc~l
FROrv: Clty Staff
SUBJECT ~e::::ommenda~1on to Adop~ Resolut1on Approv~ng !='1nal Map
fc~ ~e~a~~-Par~lclpat~~g Converslon TPC-279 at 1125 P1CO
SCl...:.levard
INTRODUCTION
Th~s report transm1ts for Clty Counc1l approval a Final Map for the
fcllow~ng Tenan~-?articipati~g ConverS2on proJect.
Trace KC;. ~?C~ NO" ADDRESS OWNER UNITS
51469 279 112~ p~co 31vd Kew Investment 20
Enterprlses, A
General Partnership;
Lawrence V Kle1n
& Frank C. Eck,
General Partners
BACKGRJl,TID
The C::.. ty Pla:1n::":1g CommlSSlon approved ~he Tenta':i ve Map and the Ten-
ant-Partlc2pat~ng ConverS10~ for the above project on January 6,
1993, af~er a p~Dl~c hear~~g and a careful reVlew of the record and
s:.aff recoTTe::J.datlons 'The act~c:-" of the Plann~ng CommlSSlon was
based or. ~he COmmlSS:LOn's flnd~ngs that the proposed Tenant-
Partlc1patlng ConverS10n meets the requirements of Artlcle XX of the
City Charter and ~hat the proposed subdlv1slon 18 cons1st:.ent with
appllcab~e ge:1eral and speclflc plans as adopted by the C1ty of
Santa l"'lon::..ca along wl":.h a ~ I Mandatory requlreITLents of the
Subd~vlslo~ MaD Act of ::.he State of Ca11fornla.
1 6 0
-
JAN 0 9 1996
The owners have submltted to the C1ty a Written Consent Agreement
binding the owners and any successors ln interest to each condit1on
1mposed In connectlon with approval of th1s Tenant-Participat1ng
Convers1or. ':'hlS \'lrltten Consent has been approved by the City
Attorney and the Clty Manager Each part1c1pat1ng tenant has been
1nformed ir. wrlting of hlS or her r1ghts under Art1cle XX of the
C1ty Charter The License Dl V1Slon reports that proper arrangements
have been nade to ensure payment of the Tenant-Particlpat1ng
Converslon Tax.
.
The Flnal Map conforms to the Tentative Map. The Final Map has been
certified by the Clty Eng1neer for conformance wlth the Tentat1ve
Map and condlt1ons thereon, the Subd1v1sion Map Act and local
ordinances. The C~ty Attorney's offlce has approved a Declarat10n
of Covenants, Condltlons, and Restr1ctions, or equivalent document,
for th1s project as complying wlth the condit1ons of the Tentat1ve
Map and the Tenant-Partic1patlng ConverSlon.
Counell approval of a final map for a Tenant-Participatlng
Convers1or.. represents one of the last steps necessary in the
conVerS1on DYOCess. Follow1ng Clty Council act10n and approval by
the Callforr.la Department of Real Estate the applicants may begin
sell.lng their UDltS to the tenants. As each unit 1.S sold a
converSlcn tax per Sectlon 2008 of Artlcle XX is due 1n an amount
equal to twelve tlmes the monthly maX1mum allowable rent for that
unlt These taxes will be used to assist low and moderate lncome
2
---
households to purchase or 1t'1prOVe the1r un1ts subJect to affordable
repayment per Sect~on 2009 of Art1cle xx.
BUDGET/FISCAL IMPACT
The recommendatlon presented In thlS report does not have an 1mmedi-
ate b"J.dget or fiscal impact If and as units In the proJect are
sold in the f"J.ture, Tenant-Participat1ng Convers1on Taxes will be
collected pursuant to the provlsions of Art1cle xx of the City
Charter and sone 1ncreased property tax revenues may be generated.
RECOMMENDATION
It 18 respectfully recommended that the Final Map for this Tenant-
Part1c1patlng ConverS1on be approved by adoptlon of the accompanying
resolut10r:
Prepared by: Suzanne Fr1ck, Dlrector of PCD
D. Kenyon Webster, Planning Manager
Susan Healy Keene, Actlng Associate Planner
Planning and Zonlng Div1s1on
P~ann1ng and Comm~nity Development Department
f:\plan\s~are\torca\fnnap\fwtpc279
3
- -~-
RESOLUTION NO. 8983 (CCS)
(City Counc1l Ser1es)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING AND APPROVING
A FINAL SU3DIVISION MAP FOR TRACT NO.51469
AT 1125 PICa BOULEVARD
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS:
SECTION 1. That the Flnal Map for Tract No.51469 in the City
of Santa Mon1ca hereby 15 accepted and approved.
SECTION 2. That the C1ty Clerk hereby is author1zed and
d1rected to endorse upon the face of sald Map this order
authenticated by the Seal of the City of Santa Monica.
SECTION 3. That the City Clerk shall certify to the adoption
of thlS Resolutlon, and thenceforth and thereafter the same shall
be 1n full force and effect.
APPROVED AS TO FORM
~)ILAuk_
MARSHA Jo~ds MOUTRIE .
C1ty Attok'tey
Adopted and approved thIs 9th of January, 1996
~~
Mayor
I hereby certIfy that the foregomg Resolunon 8983 (CCS) was duly adopted at a meetmg
of the City CouncIl held on the 9th of January, 1996 by the follOWIng vote
Ayes CouncIl members Abdo, Ebner, Genser, Holbrook, RosensteIn
Noes CouncIl members None
AbstaIn CouncIl members None
Absent CouncIl members Greenberg, O'Connor
ATTEST
~~,~~
CIty Clerk
~