SR-6-D (126)
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PCD:SF:DKW:SHK:\PLAN\SHARE\TORCA\fnmap\TPC315 JUN 2 7 1995
Councll Mtg: June 27, 1995 Santa Monica, Callfornla
TO: Mayor and City Council
FROM Clty Staff
SUBJECT: Recommendation to Adopt Resolutlon Approving Flnal Map
for Tenant-Partlcipatlng Conversion TPC-315 at 1125
Slxteenth Street.
INTRODUCTION
This report transmits for Clty Councll approval a Flnal Map for the
followlng Tenant-Participatlng Conversion project.
Tract No. TPC NO. ADDRESS OWNER UNITS
50273 315 1125 Sixteenth Walter M 6
Street Stalin et al
BACKGROUND
The City Planning Commisslon approved the Tentative Map and the Ten-
ant-Participating Conversion for the above project on May 4, 1994,
after a publlC hearlng and a careful reVlew of the record and staff
recommendations. The actlon of the Plannlng Commisslon was based
on the Commisslon's findlngs that the proposed Tenant-Participatlng
Conversion meets the requlrements of Artlcle XX of the Clty Charter
and that the proposed subdlvlsion lS conslstent wlth appllcable
general and speclfic plans as adopted by the Clty of Santa Monlca
along wlth all mandatory requlrements of the Subdivision Map Act of
the State of Callfornla.
The owners have submitted to the Clty a Wrltten Consent Agreement
blndlng the owners and any successors In lnterest to each conditlon
JUN 2 7 1995
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imposed in connect~on with approval of this Tenant-Participat~ng
Convers~on. Th~s Wrltten Consent has been approved by the City
Attorney and the Clty Manager Each particlpating tenant has been
~nformed ~n wr~ting of his or her rights under Article XX of the
Clty Charter. The License Di V1Slon reports that proper arrangements
have been made to ensure payment of the Tenant-Partic~pating
Converslon Tax.
The F~nal Map conforms to the Tentat~ve Map. The Final Map has been
certif~ed by the City Engineer for conformance with the Tentatlve
Map and cond~tions thereon, the Subdiv~s~on Map Act and local
ordinances. The City Attorney's office has approved a Declaratlon
of Covenants, Condltlons, and Restr~ctions, or equlvalent document,
for thlS project as complying with the conditlons of the Tentative
Map and the Tenant-Partieipat~ng Conversion.
Council approval of a flnal map for a Tenant-Partlclpating
ConverSlon represents one of the last steps necessary in the
conversion process. Following Clty Council act~on and approval by
the Callfornia Department of Real Estate the appllcants may begin
selling thelr unlts to the tenants. As each un~t 18 sold a
convers~on tax per Bectlon 2008 of Artlcle XX ~s 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 ~ncome
households to purchase or ~mprove their unlts subject to affordable
repayment per Beetlon 2009 of Article xx
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BUDGET/FISCAL IMPACT
The recommendation presented in thls report does not have an lmmedi-
ate budget or f1scal impact. If and as un1ts in the proJect are
sold in the future, Tenant-Partic1pating Convers1on Taxes w1II be
collected pursuant to the prov1sions of Article XX of the City
Charter and some 1ncreased property tax revenues may be generated.
RECOMMENDATION
It 1S respectfully recommended that the Flnal Map for this Tenant-
Partic1pating Conversion be approved by adopt1on of the accompanY1ng
resolut1on.
Prepared by: Suzanne Frlck, Dlrector of PCD
D. Kenyon Webster, Plannlng Manager
Susan Healy Keene, Assistant Planner
Planning and Zoning Dlvision
Plannlng and Community Development Department
f:\plan\share\torca\fnmap\tpc315
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RESOLUTION NO. 8916 (CCS)
(Clty COUDCll Serles)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING fu~D APPROVING
A FINAL SUBDIVISION MAP FOR TRACT NO.50273
AT
1125 SIXTEENTH STREET
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS:
SECTION 1. That the Flnal Map for Tract No 50273 lD the Clty
of SaD~a Monlca hereby lS accepted and approved.
SECTi:ON 2. That: the Clty Clerk hereby 18 authorlzed and
dlrected to endorse upon the face of sald Map thlS order
authenticated by the Seal of the C~ty of Santa Monlca.
SECTION 3 ~hat the City Clerk shall certlfy to the adoptlon
of ~hlS Resolut~on, and thenceforth and thereafter the same shall
be l~ full force and effect:.
APPROVED AS TO FORM:
It (({ ',,~0' k&
MARSHA JONES'~OUTRIE
Clty Attorney
Adopted and approved thIS 27th of June. 1995
Mayor
I hereby certIfy that the foregomg ResolutIOn 8916 (CCS) was duly adopted at a meetIng
of the CIty CouncIl held on the 27th of June. 1995 by the followmg vote
Ayes Councll members Abdo. Genser, Holbrook. Rosenstem
Noes CouncIl members None
Abstam CouncIl members ~one
Absent Council members Ebner, Greenberg, O'Connor
ATTEST
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City Clerk