SR-6-D (123)
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LUTM:SF:DKW:DB\PLAN\SHARE\TORCA\fnmap\tp335fm JUN 1 4 1994
Council Mtg: June 14, 1994 Santa Monlca, Callfornla
TO: Mayor and City Councll
FROM: Clty Staff
SUBJECT: Recommendatlon to Adopt Resolution Approvlng Final Map
for Tenant-Partlclpating ConverSlon TPC-225 at 907 12th
Street.
INTRODUCTION
This report transmlts for Clty Council approval a Flnal Map for the
followlng Tenant-Partlcipating Converslon proJect:
Tract No TPC NO ADDRESS OWNER UNITS
51252 225 907 12th St. Shu Living Trust 8
BACKGROUND
The City Planning CommlSSlon approved the Tentative Map and the Ten-
ant-Partlcipating Conversion for the above proJect on July 8, 1992,
after a public hearlng and a careful ~eVlew of the record and staff
recommendatlons. The actlon of the Plannlng Commission was based
on the Commission's flndlngs that the proposed Tenant-Partlclpating
ConverSlon meets the requlrements of Artlcle XX of the Clty Charter
and that the proposed subdivls10n 1S consistent w1th applicable
general and speciflc plans as adopted by the Clty of Santa Monlca
along wlth all mandatory requlrements of the Subdlvlsion Map Act of
the State of Callfornia.
The owners have submltted to the City a Wrltten Consent Agreement
blndlng the owners and any successors In interest to each condltion
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imposed ~n connection with approval of th~s Tenant-Part~c~pat~ng
Conversion. Th~s Wrltten Consent has been approved by the C~ty
Attorney and the City Manager. Each partlclpatlng tenant has been
informed in wrltlng of hlS or her rights under Article XX of the
City Charter The License D1V1Slon reports that proper arrangements
have been made to ensure payment of the Tenant-Partlclpatlng
Converslon Tax
The Flnal Map conforms to the Tentatl ve Map. The Final Map has been
cert~f~ed by the City Englneer for conformance with the Tentatlve
Map and condltlons thereon, the Subdivislon Map Act and local
ordlnances. The City Attorney's offlce has approved a Declaratlon
of Covenants, Conditions, and Restrlctlons, or equivalent document,
for thlS proJect as complying with the condltions of the Tentative
Map and the Tenant-Participatlng ConverSlon.
Counc~l approval of a final map for a Tenant-Participating
ConverSlon represents one of the last steps necessary in the
conversion process. Followlng Clty Counc~l action and approval by
the Cal1fornla Department of Real Estate the appllcants may begln
selllng the~r units to the tenants. As each unlt 18 sold a
convers~on tax per Section 2008 of Artlcle XX 1S due ~n an amount
equal to twelve times the monthly maXlffium allowable rent for that
unlt. These taxes wlll be used to assist low and moderate lncome
households to purchase or lmprove their units subJect to affordable
repayment per Sectlon 2009 of Artlcle XX
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BUDGET/FISCAL IMPACT
The recommendat1.on presented l.n th1.s report does not have an immedi-
ate budget or fiscal l.mpact. If and as un1.ts in the proJect are
sold in the future, Tenant-Participat1.ng Conversion Taxes wlII be
collected pu~suant to the prov1.S1.ons of Artlcle XX of the C1.ty
Charter and some lncreased property tax revenues may be generated.
RECOMMENDATION
It lS respectfully recommended that the F1.nal Map for this Tenant-
Partlclpating Conversion be approved by adoption of the accompanYlng
resolution
Prepared by' Suzanne Frlck, Dlrector of LUTM
D Kenyon Webster, Plannlng Manager
Drummond Buckley, Associate Planner
Planning and Zon1.ng Divislon
Land Use and Transportation Management Department
f:\plan\share\torca\fnmap\tp225fm
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RESOLUTION NO. 8761 (CCS)
(City Counc~l Serles)
A RESOLUTIOK OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING Ah~ APPROVING
A FINAL SUBDIVISION MAP FOR TRACT NO. 51252
AT 907 12TH STREET
THE CI~Y COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLI.,OWS:
SEC':'ION =- That the Final Map for Tract No. 51252 ~n the Clty
of Santa Monica hereby is accepted and approved.
SECTION 2. That the C~ty Clerk heyeby is authorlzed and
(hrect.ed to endorse upon the face of sald Map thlS order
au~~entlcatea by che Seal of the Clty of Santa Monlca
SECTION 3. That the Clty Clerk shall certlfy to the adoptlon
-:Jf th:..s rt.esolutlO::, and thenceforth and thereafter the same shall
be :..n fu:::"l force and effect
A??ROVED AS TO FORM:
~~~J~~R~~
C:..ty Attorney
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Adopted and approved this 14th of June, 1994
~UL
Mayor-
I hereby certIfy that the foregoing Resolution 8761 (CCS) was duly adopted at a
meetmg of the CIty Council held on the 14th of June. 1994 by the followmg vote
Ayes CouncIlmembers Abdo, Greenberg, Holbrook, Olsen, Rosenstein. Vazquez
Noes Councilmembers None
Abstam CouncIlmembers. None
Absent CouncIlmembers Genser
ATTEST
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