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SR-6F (21) f'-. 6F L PCD:S?:DKW:DB:\PLAN\SHARE\TORCA\fnmap\fmtpc275 Councll Mtg: August 9, 1994 Santa Monica, California AUG 0 9 1994 TO: Mayor and City Councll FROM: Clty Staff SUBJECT Recommendatlon to Adopt Resolutlon Approvlng Final Map for Tenant-Partlcipating ConverSlon TPC-275 at l437-1453 Stanford Street. INTRODUCTION ThlS report transmlts for Clty Cauncll approval a Flnal Map for the following Tenant-Partlcipatlng Conve~Slon proJect. Tract No. TPC NO. ADDRESS OWNER UNITS 51426 275 1437-1453 Stan::ord Gale T. Wllllams 26 N & G Investments BACKGROUND The Clty Planning Commisslon approved the Tentative Map and the Ten- ant-Participating Conversion for the above proJect on September 30, 1992, after a publlC hearlng and a careful review of the record and staff recommendatlons. The actlon of the Plannlng CommlSSlon was based on the Commlssion's findlngs that the proposed Tenant- Partlclpating ConverSlon TTleets the requirements of Artlcle XX of the City Charter and that the proposed s~bdivlslon is consistent with appllcable general and specific plans as adopted by the City of Santa Monica along wlth all mandatory requlrements of the Subdivislon Map Act of the S~ate of Californla. The owners have submitted to the City a Wrltten Consent Agreement AUG 0 9 199\ 1 6F .... . .. binding the owners and any successors In lnterest to each condltlon imposed in connectlon with approval of thls Tenant-Partlclpatlng Conversion. Thls Written Consent has been approved. by the City Attorney and the Clty Manager. Each particlpating tenant has been lnformed In wrlting of his or her rlghts under Artlcle XX of the City Charter The Llcense Dl vlsion reports that proper arrangements have been made to ensure payment of the Tenant-Partlclpatlng ConverSlon Tax. The Flnal Map conforms to the Tentatlve Map. The Final Map has been certlfled by the Clty Englneer for conformance with the Tentatlve Map and conditlons thereon, the Subdlvlsion Map Act and local ordinances. The Clty Attorney's offlce has approved a Declaratlon of Covenants, Conditlons, and Restrlctions, or equlvalent document, for this project as complying wlth the condltions of the Tentatlve Map and the Tenant-Partlclpating ConverSlon. Councll approval of a final map for a Tenant-Participating Conversion represents one of the last steps necessary In the converSlon process. Following Clty Council action and approval by the Callfornla Department of Real Estate the appllcants may begln selllng their units to the tenants. As each unit lS sold a converSlon tax per Sectlon 2008 of Article XX is due in an amount equal to twelve times the monthly maximum allowable rent for that unlt. These taxes wlll be used to assist low and moderate lncome households to purchase or lmprove thelr unlts subJect to affordable 2 . .. repayment per Sect10n 2009 of Article XX. BUDGET/FISCAL IMPACT The recommendation presented 1n this report does not have an immedi- ate budget or f1scal Impact. If and as units 1n the project are sold 1n the future, Tenant-Partic1pat1ng ConverS1on Taxes w111 be collected pursuant to the prOV1S1ons of Art1cle XX of the City Charter and some increased property tax revenues may be generated. RECOMMENDATION It 1S respectfully recommended that the F1nal Map for th1S Tenant- Part1c1pat1ng Conversion be approved by adopt1on of the accompanying resolution Prepared by: Suzanne FrIck, DIrector of PCD D. Kenyon Webster, Planning Manager Drummond Buckley, Associate Planner Planning and Zon1ng D1v1sion Planning and Commun1ty Development Department 3 . . PCD:SF:DKW:SHK:F:\PLAN\SHARE\TORCA\FNMAP\TPC276 6G Counc~l Mtg: August 9 I 1994 Santa Monica, Californ~a TO: Mayor and City Counc~l FROM: C~ty Staff SUBJECT: Recommendatlon to Adopt Resolutlon Approvlng Final Map for Tenant-Particlpatlng Conversion TPC-276 at 1918 Eleventh Street. INTRODUCTION This report transmlts for City Council approval a Final Map for the followlng Tenant-Particlpat~ng Conversion project: Tract No. TPC NO. ADDRESS OWNER UNITS 51409 276 1918 11th St. 1918 11th St 7 partnership, A Californ~a General partnershl.p BACKGROUND The City Plannlng Commisslon approved the Tentative Map and the Ten- ant- Partlcipatlng Converslon for the above pro] ect on March 3, 1993, after a publlc hearl~g and a careful reVlew of the record and staff recommendations The act10n of the Planning Comm1ssion was based on the Commission's f1nd1ngs that the proposed Tenant-Participating Conversion meets the requirements of Artlcle XX of the Clty Charter and that the proposed 8ubd1v1s1on 18 cons1stent with appl1cable general and speclfic plans as adopted by the City of Santa Monica along with all mandatory requirements of the Subdivlsion Map Act of the State of Cal1fornia The owners have submltted to the Clty a Wr1tten Consent Agreement 1 6 G . -~ blndlng the owners and any successors ln interest to each condltlon lmposed ln connectlon with approval of thlS Tenant-Particlpating ConverSlon. This Written Consent has been approved by the Clty Attorney and the Clty Manager. Each partlcipatlng tenant has been informed in writlng of hlS or her rlghts under Article XX of the City Charter. The License Di V1Slon reports that proper arrangements have been made to ensure payment of the Tenant-Participatlng Conversion Tax The Flnal Map conforms to the Tentatlve Map. The Flnal Map has been certlfled by the Clty Englneer for conformance wlth the Tentatlve Map and condltions thereon, the Subdlvision Map Act and local ordinances. The Clty Attorney's offlce has approved a Declaratlon of Covenants, Conditlons, and Restrlctions, or equlvalent document, for thlS proJect as complYlng wlth the conditlons of the Tentative Map and the Tenant-Particlpating ConverSlon Council approval of a flnal map for a Tenant-Partlcipatlng ConversJ.on represents one of the last steps necessary In the conversion process. Followlng City Councll action and approval by the Callfornia Department of Real Estate the applicants may begin selling thelr unlts to the tenants As each unlt is sold a conversion tax per Sectlon 2008 of Artlcle XX is due in an amount equal to twelve tlmes the monthly maXlmum allowable rent for that unit. These taxes wlll be used to asslst low and moderate lncome households to purchase or lmprove thelT units subject to affordable 2 . repayment per Sectlon 2009 of Article XX. BUDGET/FISCAL IMPACT The recommendation presented In thlS report does not have an immedi- ate budget or fiscal lmpact If and as unlts in the project are sold in the future, Tenant-Partlcipatlng ConverSlon Taxes wlll be collected pursuant to the provislons of Artlcle XX of the Clty Charter and some increased property tax revenues may be generated. RECOMMENDATION It lS respectfully recommended that the Final Map for this Tenant- Partlcipating Conversion be approved by adoptlon of the accompanying resolution. Prepared by: Suzanne Frick, Director of peD D. Kenyon Webster, Plannlng Manager Susan Healy Keene, Assistant Planner Planning and Zoning Divislon Plannlng and Community Development Department f:\plan\share\torca\fnmap\tpc276 3 -- , .' RESOLUTION NO. 8798 (CCS) (C~ty Council Serles) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA MONICA ACCEPTING AND APPROVING A FINAL SUBDIVISION MAP FOR TRACT NO.51409 AT 1918 ELEVENTH STREET THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS FOLLOWS: SECTION 1. That the Final Map for Tract No.51409 ln the City of Santa Monica hereby is accepted and approved. SECTION 2. That the Clty Clerk hereby is authorJ.zed and directed to endorse upon the face of said Map this order authentlcated by the Seal of the Clty of Santa Monica. SECTION 3. That the City Clerk shall certify to the adoption of thlS Resolution, and thenceforth and thereafter the same shall be J.n full force and effect. APPROVED AS TO FORM: ~~~~ MARSHA ~ONES MOUTRIE City Attorney . Adopted and approved thIS 9th of August, 1994 O.W~ P Mayor I hereby certIfy that the foregoing ResolutiOn 8798 (CCS) was duly adopted at a meeting of the City Council held on the 9th of August, 1994 by the following vote Ayes: Councilmembers: Abdo, Genser, Holbrook, Olsen, Rosenstem, Vazquez Noes Councllmembers: None Abstain: Councilmembers: None Absent: Councilmembers: Greenberg ATTEST A~/A~ -- ~ City Clerl. '