SR-111296-6I
bI
PCD SF GS f \PLAN\SHARE\TORCA\fnmap\tpc322 NOV 1 2 1996
Council Mtg November 12, 1996 Santa MOnica, California
TO Mayor and City CounCil
FROM City Staff
SUBJECT Recommendation to Adopt Resolution Approving Fmal Map for Tenant-
Participating Conversion TPC-322 at 1138 15th Street
INTRODUCTION
This report transmits for City CounCil approval a Fmal Map for the followmg Tenant-
Participating Conversion project
Tract No TPC NO ADDRESS OWNER UNITS
52077 322 1138 15th Street Igor Hunkoff SIX
(6)
BACKGROUND
The City Planning CommisSion approved the Tentative Map and the Tenant-Participating
Conversion for the above project on November 1, 1995, after a public hearing and a careful
review of the record and staff recommendations The action of the Plannmg CommisSion
was based on the CommisSion's findings that the proposed Tenant-Partlclpatmg
Conversion meets the requirements of Article XX of the City Charter and that the proposed
subdivISion IS consistent with applicable general and specifiC plans as adopted by the City
of Santa MOnica along with all mandatory requirements of the SubdivISion Map Act of the
State of California
1 b1
NOV f 2 1996
The owners have submitted to the CIty a Wntten Consent Agreement blndmg the owners
and any successors In mterest to each condition Imposed In connection with approval of
this Tenant-Participating Conversion This Wntten Consent has been approved by the City
Attorney and the City Manager Each participating tenant has been mformed In writing of
hiS or her nghts under Article XX of the City Charter The License DIVISion reports that
proper arrangements have been made to ensure payment of the Tenant-Partlclpatmg
Conversion Tax
The Final Map conforms to the Tentative Map The Final Map has been certified by the
CIty Engineer for conformance With the Tentative Map and conditions thereon. the
SubdivIsion Map Act and local ordinances The City Attorney's office has approved a
Declaration of Covenants, Conditions. and Restnclions, or equivalent document. for thiS
project as complYIng With the conditions ofthe Tentative Map and the Tenant-Participating
ConversIon
CouncIl approval of a final map for a Tenant-Partlclpatmg Conversion represents one of
the last steps necessary In the conversion process Followmg City Council action and
approval by the California Department of Real Estate the applicants may begm selling their
Unlts to the tenants As each Unlt IS sold a conversion tax per SectIon 2008 of Article XX
IS due In an amount equal to twelve times the monthly maxImum allowable rent for that
Unit These taxes will be used to assist low and moderate Income households to purchase
or Improve their Units subject to affordable repayment per Section 2009 of Article XX
2
- ---- - ---
BUDGET/FISCAL IMPACT
The recommendation presented In thIs report does not have an Immediate budget or fiscal
Impact If and as umts In the project are sold In the future, Tenant-Participating Conversion
Taxes will be collected pursuant to the provIsions of Article XX of the City Charter and
some Increased property tax revenues may be generated
RECOMMENDATION
It IS respectfully recommended that the Final Map for this Tenant-Partlclpatmg Conversion
be approved by adoption of the accompanYing resolution
Prepared by Suzanne Frick, Director of PCD
Gina Szllak, Assistant Planner
Plannmg and Zoning DIVISion
Plannmg and Community Development Department
3
-
RESOLUTION NO 9100CCCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA -
ACCEPTING AND APPROVI NG
A FINAL SUBDIVISION MAP FOR TRACT NO 52077
AT
1138 15th STREET
THE CITY COUNCil OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS
SECTION 1 That the Fmal Map for Tract No 52077 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 City Clerk shall certify to the adoption of this Resolution,
and thenceforth and thereafter the same shall be In full force and effect
APPROVED AS TO FORM
~ 1"
I 4i-u-.L- i' ,)."-,,,c, f- c;
MARSHA J NES MOUTRIE'
City Attorney
.
Adopted and approved thIS 12th of);ovember. 1996
~Jl ~~p.-c, .
Mayor
I hereby certIfy that the foregomg ResolutIon 9100(CCS) was duly adopted at a meetmg
of the City CounCll held on the 12th of November. 1996 by the follmvmg vote
Ayes CouncIlmembers Abdo. Ebner. Genser, Greenberg _ Holbrook. O'Connor.
Rosenstem
='Joes Counctlmembers '\Jone
Abstam CounCllmembers None
Absent Councdmembers I\one
ATTEST
~~.~~
CItv Clerk