SR-051496-6G
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PCD:SF:DKW:SHK:f:\P~AN\SHARE\TORCA\fnmap\tpc258
COUDCll Mtg' May 14, ~996 Santa MOlllca, California oii
MAY 1 " 1996
TO. Mayor and Cl~Y Councll
FROM: Clty Staff
SUBJECT. Recommendatlon to Adopt Resolutlon Approvlng Final Map
fo~ Tenant-?artlclpating Converslon TPC-258 at 937 Flfth
Street.
INTRODUCTION
This report transml~S for City Council app~oval a Flnal Map for the
following Tenant-Partlclpatlng ConverSlon project:
Tr~ct NQ. TPe NO. ADDRESS OWNER UNITS
51432 258 937 Fif::h St Michall & 10
Yelena Altshuler
ar:d Izal & Asya
TyomklD
BACKGROUND
The Clty Planning Co:nmlSSlon approved the Ter:tatlve Map and tne Ten-
ant-Partlcipatlng Ccnve~SlO~ for the above proJec~ on October 21[
1992[ after a publlC hea~lng and a careful reVlew of the record and
staff reccm~endatlons The actlon of the ?lannlng Commisslo~ was
based on the COP1.PHssion 's findlngs that the proposed Tenant-
Particlpating ConverSlOO1 meets the requlrements of Artlcle XX of the
Clty Charter and that ~he proposed subdlvlsion 1S Co~slstent with
appllcable general and speclflc plans as adopted by the City of
Santa Mon2.ca along wlth all mandatory requirements of the
Subdlvlslon Map Act o~ the State of Callfornla.
HAY 1'1 1996
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The owners have submitted to the Clty a Wrltten Consent Agreenec~
blndlng the owners a~d any successors l~ lnterest to each condlt~oh
imposed lTI connectlon with approval of thlS ~enant-?articlpatlng
,..., , Th:!.s Wrlt'c.en Consent has been approved by the C:!.ty
,--onverSlon. Attorney and the Clty Manager. Each particlpatlng tenant has been
lnforl'1ed In w:!:'ltlng of hlS or her rlgh~s under Artlcle XX of the
Clty Chan:ey- The License Dl VlSlon reports that p:!::""oper arrangements
have De en r('.ade to ensure pay;nent of the Tenant-Partlc~patlng
ConverSlon Tax.
The Fl~al Map confor~s to rhe Tentatlve Map. The Flnal Map has been
certlfied by the City Englneer for confor~ance wlth the Tentatlve
Map and condltlo~S thereon, the 5ubdlVislO~ Map Act and Ioea:
ordi:1ances The C:!.ty Attorney's office has app~oved a Declaratlorr
of Covenants, Conditlons, and Restrlctlons, or equivalent document,
for this proJect as co~plying wlth the condit~ons of the Tentatlve
Map and the Tenant-Par~lClpatlng Conversion.
Council approval 0:: a flDal map for a ~enant-Part~cipat~hg
ConverSlon !:"epyesents one of the last steps r~ecessary lD ':.he
conversion process. Followi~g Clty Cour-cil acrion and approval by
the CalifoYDla Depart~ent of Real Estate the appllcants may begl~
selling their units to the tenaD'c.s As each UDlt is sold a
conversion tax per Sectlon 2008 of Artlcle XX lS due In an amount
equal to ~welve times the ~onthly rraXl~um allowable rer..t for thar
UDlt:. These t:axes w:.ll be used to asslst low and moderare ~ncoxe
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households to purchase or ~mprove their unlts subJect to affordable
repaYr.1ent per Sect~on 2009 of Art:.cle XX.
EUDGET/S"ISCAL IMPACT
The reccTT''T.e:!J.datlOn presented lD th.:..s report does not have an. lJT1mea1-
ate budget or :Elseal lrnpact. If and as UDlts In the proJect are
sold lD the future, Tenant-Partlcipatlng Convers~on ~axes wlll be
collected pu~suant to the provlslons of Article XX of the Clty
Charter and some increased property tax revenues may be generated.
RECOMMENDAT!ON
It 1S respectfully recommended that the Flnal Map for thlS Tenar.~-
Partlclpatlng ConverSlon be approved by adoptlon 0:: the accompanYlng
resolutlOn..
Prepared by' Suzanne F~lCk, Dlrector of Planning and Comtt'unlty
Development
D. Ae~yon Webster, Planning Manager
Susan nealy Keene,Assistant PlaDner
Plannlng and Zonlng Dlvislon
Pla:!J.!llng and Communlty Development Department
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RESOLGTIOK NO 902i ices}
(Clty Counell Serles)
A RESO~UTION O~ THE CITY COUNCIL
OF ?HE C~TY OF SANTA MONICA
ACCE?TING &~u APPROVING
A ?I~A~ SU3~IVISION MAP FOR TRACT NO.51432
AT 937 FIFTH STREET
THE CITY COUNCI~ OF ~HE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS.
SECTION 1. That ~he Fi~al MaD for Tract No 51432 Ir the Cl~y
of Santa Monlca nereby 15 accepted and approved
SECTIOK 2. That ':.he C1ty Clerk hereby 18 authorlzed and
dlrected to endorse upon the face of sald Map this crder
authenticated by the Seal of the Clty 0= Santa Monlca
SECTION 3 That the Clty Clerk shall certlfy to ~he adoptlon
of ~hlS Resolu':.lon, and thenceforth and thereafter ~he same sha~l
be l~ full force and effect
AP?KOVED AS TO FORM
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MARSF~ JONE$ MOUTRIE
Clty Attorney
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Adopted and approved thIS 14th of May, 1996
Mayor
I hereby certIfy that the foregomg ResolutIOn 9027 (CeS) was duly adopted at a meetIng
of the Clty Councll held on the 14th of May, 1996 by the followmg vote
Ayes Councllmembers Abdo, Ebner, Genser. Greenberg. O'Connor Rosenstem
~oes Councllmembers None
Abstam Councdmembers None
Absent Councllmembers Holbrook
ATTEST
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CIty Clerk