SR-6F (20)
6 ,c=--
I ~ ..... ~ r:
:"-.:..:.3
LUTM:SF:DKW:DB:\PLAN\SHARE\TORCA\fnmap\TP287FM JUL 1 2 199't
Council Mtg: July 12, 1994 Santa Mon~ca, Cal~forn~a
TO: Mayor and City Council
FROM: C~ty Staff
SUBJECT: Recommendation to Adopt Resolut~on Approv~ng Final Map
for Tenant-Partlclpating Convers~on TPC-287 at 1522
Franklin Street.
INTRODUCTION
This report transmits for City Council approval a Final Map for the
following Tenant-Participating Conversion project:
Tract No. TPC NO. ADDRESS OWNER UNITS
51651 287 1522 Franklin I. Saberan 6
BACKGROUND
The C~ ty Planning Comm~ssion approved the Tentative Map and the Ten-
ant - Part~cipatlng Conversion for the above pro] ect on July 7, 1993,
after a publlc hearlng and a careful review of the record and staff
recommendatlons The act~on of the Plann~ng Commlssion was based
on the Commiss~on' s findlngs that the proposed Tenant-Particlpating
ConverSlon meets the requirements of Artlcle XX of the C~ty Charter
and that the proposed subdivislon is consistent with applicable
general and speciflc plans as adopted by the City of Santa Monica
along w~th all mandatory requlrements of the Subdivis~on Map Act of
the State of Cal~fornia
The owners have submitted to the C~ty a Wrltten Consent Agreement
bindlng the owners and any successors in lnterest to each conditlon
JUl 1 2 199ft
1 -
6>-
- ~
: ~ ...t-
imposed J.n connectlon with approval of thJ.s Tenant-PartJ.cJ.pating
ConversJ.on. ThJ.s Written Consent has been approved by the Clty
Attorney and the CJ.ty Manager. Each partJ.cipating tenant has been
informed in wrltlng of hJ.s or her rJ.ghts under ArtJ.cle XX of the
Clty Charter. The LJ.cense Di visJ.on reports that proper arrangements
have been made to ensure payment of the Tenant-Participatlng
Conversion Tax
The Flnal Map conforms to the Tentatl ve Map. The Flnal Map has been
certified by the City Engineer for conformance with the Tentative
Map and condJ.tJ.ons thereon, the SubdJ.vision Map Act and local
ordJ.nances. The City Attorney's offJ.ce has approved a Declaration
of Covenants, Conditlons, and RestrJ.ctJ.ons, or equivalent document,
for thJ.s proJect as complYJ.ng with the conditJ.ons of the Tentative
Map and the Tenant-PartJ.cipating ConverSlon.
CouncJ.1 approval of a fJ.nal map for a Tenant-Participatlng
ConversJ.on represents one of the last steps necessary in the
conversion process. FollowJ.ng City Council actlon and approval by
the California Department of Real Estate the applicants may begin
selling their unJ.ts to the tenants As each unJ.t 1S sold a
conversion tax per SectJ.on 2008 of Article XX J.S due 1n an amount
equal to twelve times the monthly maX1mum allowable rent for that
unJ.t. These taxes will be used to assist low and moderate income
households to purchase or J.mprove the1r units subJect to affordable
repayment per SectJ.on 2009 of Article xx.
2
. ~. .
BUDGET/FISCAL IMPACT
The recommendat1on presented in th1S report does not have an immedl-
ate budget or f1scal impact. If and as units 1n the project are
sold in the future, Tenant-Participating Conversion Taxes w1ll be
collected pursuant to the prov1Slons of Ar:'lcle XX of the C1ty
Charter and some lncreased property tax revenues may be generated.
RECOMMENDATION
It is respectfully recommended that the F1nal Map for th1S Tenant-
Participatlng ConverS1on be approved by adoptlon of the accompanying
resolut1on
Prepared by: Suzanne Frick, Director of LUTM
D. Kenyon Webster, Planning Manager
Drummond Buckley, Associate Planner
Planning and 20n1ng Div1s1on
Plann1ng and Commun1ty Development Department
f:\plan\share\torca\fnmap\tp287fm
3
---- -- - --
.
.
. .
RESOLUTION NO. 8782 ( CCS )
(City Council Series)
A RESOLUTION O? THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING AND APPROVING
A FINAL SUBDIVISION MAP FOR TRACT NO. 51651
AT 1522 FRANKLIN STREET
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS:
SECTION 1. That the Flnal Map for Tract No. 51651 in the City
of Santa Monica hereby is accepted and approved.
SECTION 2. That the City Clerk hereby is authorized and
directed to endorse upon the face of said Map this order
authenticated by the Seal of the City of Santa Monica.
SECTION 3. That the Clty Clerk shall certify to the adoption
of this Resolutlon, and thenceforth and thereafter the same shall
be in full force and effect.
APPROVED AS TO FORM:
~a;L~~_~
MARSHA JON~ MOUTRIE
City Attorney
DB
tp287fm
. .
.
Adopted and approved thi~ 12th of July, 1994.
Q ~.I&
ptiyor
I hereby certify that the foregoing Resolution 8782 (CCS) was duly adopted at a
meetmg of the CIty Council held on the 12th of July, 1994 by the following vote
Ayes Councllmembers: Abel 0 , Genser. Greenberg, Holbrook. Olsen,
Rosenstein, Vazquez
Noes' Councilmembers: None
Abstain: Councilmembers: None
Absent: Councilmembers: None
ATIEST:
L/ ~L2~
~ f./ ity ~r
I
I
!
i