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PCD:SF:DKW'GS'\PLAN\SHARE\TORCA\FNMAP\TPC299 ..
Council Mtg: July 26,1994 Santa Monlca, Californla
TO: Mayor and City Councll JUL 2 8 ..
FROM' City Staff
SUBJECT Recommendatlon to Adopt Resolution Approvlng Final Map
for Tenant-Particlpating Conversion TPC-299 at 1119
Lincoln Boulevard.
INTRODUCTION
This report transmlts for City Councll approval a Flnal Map for the
followlng Tenant-Particlpating Conversion project
Tract No. TPC NO. ADDRESS OWNER UNITS
51698 299 1119 Lincoln Blvd. Llncoln North 10
a Limlted
partnershlP
BACKGROUND
The City Plannlng Commisslon approved the Tentative Map and the Ten-
ant-Participating Conversion for the above project on August 4,
1993, after a publlC hearlng and a careful review of the record and
staff recommendatlons. The actlon of the Planning Commisslon was
based on the CommlSSlon's findlngs that the proposed Tenant-
particlpating Conversion meets the requlrements of Article XX of the
City Charter and that the proposed subdivision is consistent wlth
appllcable general and speclflc plans as adopted by the Ci ty of
Santa Monlca along with all mandatory requirements of the
Subdivlslon Map Act of the State of Callfornia.
The owners have subroltted to the1Clty a Wrltten consen~r~nt ,.
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JUL 2 6 ..
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binding the owners and any successors in lnterest to each condition
imposed In connection wlth approval of thlS Tenant-Participating
ConverSlon This Wr:.tten Consent has been approved by the Clty
Attorney and the City Manager. Each particlpatlng tenant has been
lnformed ln writlng of his or her rights under Article xx of the
ci ty Charter. The L1cense Divlsion reports that proper arrangements
have been made to ensure payment of the Tenant-Participatlng
Converslon Tax.
The Final Map conforms to the Tentatlve Map. The Flnal Map has been
certifled by the City Engineer for conformance wlth the Tentative
Map and condltions thereon, the Subdlvislon Map Act and local
ordlnances. The Clty Attorney's offlce has approved a Declaratlon
of Covenants, Conditlons, and Restr1ctlons, or equlvalent document,
for thlS proJect as complying wlth the cond1tions of the Tentatlve
Map a~d the Tenant-Partlcipating Conversion
Councll approval of a final map for a Tenant-Particlpatlng
Conversion represents one of the last steps necessary ln the
converSlon process. Following Clty Councll action and approval by
the Californla Department of Real Estate the appllcants may begin
selling thelr unlts to the tenants As each unit lS sold a
converSlon tax per Sect10n 2008 of Artlcle XX lS due 1n an amount
equal to twelve t1mes the monthly maximum allowable rent for that
unit. These taxes wlll be used to assist low and moderate lDcome
households to purchase or lmprove their units subject to affordable
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repayment per Sectlon 2009 of Article XX.
BUDGET/FISCAL IMPACT
The recommendatlon presented In this report does not have an immedi-
ate budget or flscal lmpact. If and as units in the proJect are
sold in the future, Tenant-Particlpating Conversion Taxes wlll be
collected pursuant to the provisions of Article XX of the Clty
Charter and some increased property tax revenues may be generated.
RECOMMENDATION
It lS respectfully recommended that the Flnal Map for this Tenant-
Particlpating ConverSlon be approved by adoptlon of the accompanYlng
resolutlon.
Prepared by Suzanne Frlck, Dlrector of peD
D. Kenyon Webster, Planning Manager
Gina Szilak, Asslstant Planner
Plannlng and Zonlng Dlvlsion
Plannlng and Community Development Department
f \plan\share\torca\fnmap\tpc299
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RESOLUTION NO. S785 (CCS)
(Clty Councll Series)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING AND APPROVING
A FINAL SUBDIVISION MAP FOR TRACT NO.5169B
AT 1119 LINCOLN BOULEVARD
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS,
SECTION 1. That the Final Map for Tract No.51698 In the City
of Santa Monica hereby is accepted and approved.
SECTION 2 Tha~ the Clty Clerk hereby lS authorlzed and
directed to endorse upon the face of sald Map thlS order
authentlcated by the Seal of the Clty of Santa Monlca.
SECTION 3 That the City Clerk shall certify to the adoptlon
of thlS Resolutlon, and thenceforth and thereafter the same shall
be lD full force and effect
APPROVED AS TO FORM
MARSHA JON MOUTRIE
Clty At1:orney
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Adopted and approved this 26th of July, 1994
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I hereby certify that the foregoing Resolution 8785 (CCS) was duly adopted at a
meeting of the City Council held on the 26th of July, 1994 by the followmg vote
Ayes' Councilmembers: Abdo, Genser, Greenberg, Holbrook, Olsen,
Rosenstem, Vazquez
Noes' Councllmembers: None
Abstam CouncIlmembers: None
Absent Councilmembers None
ATTEST
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