SR-6C (54)
DR.D 4! 18'1/ (CUb) 6C
CA \atty\munl\strpts\bar\arbo NOV 2 5 1997
City Council Meeting 11-25-97 Santa Monica, Call1l..lrnla
TO Mayor and City Council
FROM City Attorney
SUBJECT Ordinance Approving the Development Agreement Amendment Between the
City of Santa MOnica and Transaction Fmanclal Corporation, a California
Corporation, Three Coast Limited Partnership, a Delaware Limited
Partnership, Steven H SWire, Frederick A Fuchs, and Barbara M Fuchs
INTRODUCTION
At Its meetmg on November 11, 1997, the City Council Introduced for first readmg an
ordinance approving the Development Agreement Amendment between the CIty and
Transaction Financial Corporation, Three Coast tyr '?d Partnership, Steven H SWire,
Frederick A Fuchs, and Barbara M Fuchs The ordlilance IS now presented to the City
CouncIl for adoption
RECOMMENDATION
It IS respectfully recommended that the accompanYing ordinance be adopted
PREPARED BY Marsha Jones Moutne, CIty Attorney
Barry A Rosenbaum, Deputy City Attorney
6C
NOV 2 5 1997
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CAf \atty\munl\laws\bar\arbo
City Council Meeting 11-25-97 Santa MOnica, California
ORDINANCE NUMBER 1891 (eCS)
(City Council Senes)
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA
APPROVING THE DEVELOPMENT AGREEMENT AMENDMENT BETWEEN
THE CITY OF SANTA MONICA AND TRANSACTION FINANCIAL
CORPORATION, A CALIFORNIA CORPORATION, THREE COAST
LIMITED PARTNERSHIP, A DELAWARE LIMITED PARTNERSHIP,
STEVEN H SWIRE, FREDERICK A FUCHS, AND BARBARA M FUCHS
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES ORDAIN AS
FOLLOWS
SECTION 1 The Development Agreement Amendment attached hereto as Exhibit
"1" and Incorporated herein by reference between the City of Santa Monica, a mUnicipal
corporation, and TransactlOn Financial Corporation. a CalifornIa corporation, Three Coast
Limited Partnership, a Delaware limited partnership, Steven H SWire, Fredenck A Fuchs,
and Barbara M Fuchs IS hereby approved
SECTION 2 Each and every term and condition of the Development Agreement
Amendment approved In SectIon 1 of thIS Ordinance shall be and IS made a part of the
Santa MOnica Municipal Code and any appendices thereto The City Council of the CIty
of Santa MOnica finds that publIc necessity, public convenIence, and general welfare
require that any provIsion of the Santa Monica Municipal Code or appendIces thereto
1
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inconsistent with the prOVISions of this Development Agreement. to the extent of such
Inconsistencies and no further, be repealed or modifIed to that extent necessary to make
fully effectIve the provIsIons of thlS Development Agreement Amendment
SECTION 3 Any provIsion of the Santa MOnica Muntclpal Code or appendices
thereto, Inconsistent with the provIsIons of this Ordinance, to the extent of such
Inconsistencies and no further, are hereby repealed or modified to that extent necessary
to effect the provIsions of this Ordinance
SECTION 4 If any sectron, subsection, sentence, clause, or phrase of this
Ordinance IS for any reason held to be Invalid or unconstItutional by a decIsion of any court
of any competent !Unsdlctlon, such decIsion shall not affect the validity of the remaining
portions of this Ordinance The City Council hereby declares that It would have passed
this Ordinance, and each and every section, subsecllon, sentence, clause, or phrase not
declared Invalid or unconstitutional without regard to whether any portion of the Ordinance
would be subsequently declared invalid or unconstitutional
SECTION 5 The Mayor shall sign and the City Clerk shall attest to the passage
of this Ordinance The City Clerk shall cause the same to be published once In the official
newspaper within 15 days after ItS adoption This Ordinance shall be effective 30 days
fram ItS adoption
APPROVED AS TO FORM
~.{ltULL;~114-:J /llIvt I~i (
MARSHA JO~JS MOUTRIE
City Attorney
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~ iJlArl_
Robert Holbrook, Mayor Pro Tern
State of Cahforma )
County of Los Angeles) ss
CIty of Santa MOllica )
I. Mana M Stewart, CIty Clerk of the CIty of Santa MOllica, do hereby certify that the
foregomg Ordmance No 1891 (CCS) had Its first readmg on November 11. 1997, and had Its
second readmg on November 25. 1997 and was passed by the followmg vote
Ayes CouncIl members Ebner, Feinstem, Genser, Greenberg, Holbrook,
Rosenstem
Noes Councd members None
Abstam CounCil members None
Absent CouncIl members O'Connor
ATTEST
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~_' "",O.-S-
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Mana M. Stewart, Cuy Clerk
EXHIBIT 1
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. RECORDING REQUESTED BY
AND WHEN RECORDeD MAIL TO:
Kenneth L. Kutcher
LAWRENCE & HARDING
U50 Sixth Street, SuIte 300
Santa Monica, CA 90401
Above This L1ne For Recorder's Use
AMENDMENT NUl"B:F~ THREE
TO DEVELOPMENT AGREEMENT
XHIS AMENDMEN'l' lRJ1tf1=l. R~ 'J'l.IRRR TO .DEV!i=T_.oPMBNT A~RRMRII1T ( "Third
~t.) is entered into as of this day of . ~997
('''Effective Date"), by and between THE CITY- OF SANTA MONICA, a municipal
corporation organized and existing purS1.!~!1t to the laws of the State of
Californi'a and the Charter of the City of Santa Monica ("City"), and
TRANSACI'ION FINANCIAL CORPORATION, a California corporation, THREE COAST
LIMI1'.t:W PARTNERSHIP, a Delaware limited partnership, it'J.'15\fBN H. SWIRE,
FREDERICK A. FUCHS and BARBARA M. FUCHS, (collectively "ADP") with reference
to the following facts:
A. ADP is the owner of that certain real property ("Undeveloped
Property" ) located in the City of Santa Monica, State of California, which
is more particularly described in RYhihit "A" to this Third Amendment.
Bxhibit A is hereby incorporated by reference herein.
B. The City and a prior owner of the undeveloped Property
entered into a Development Agreement dated as of December 16, 1987
( "Original Development Agreement") , relating to certain real property
incl uding the Undeveloped Property, purS'l~!1t to California Government Code
Sections 65864, et seq. , and Santa Monica Municipal Code Sections 9800, ~
ego (now known as Ch"'pter 9 .48) . The Original Devel.opment Agreement was
recorded on December 17, 1987, in the Official Records of the Los Angeles
County Recorderls Office as Instrument 87-1996737.
C. The Original Development Agreement has been amended,
modified or clarified by the following documents:
(1) Memorandum of Clarificat~vn dated as of December 16,
1987 (llFirst Memorandum");
(2) Second Memorandum of Clarification dated as of
December 16, 1987 ("Second Memorandum") ;
(3) Amendment Number One to Development Agreement dated as
of December 28. 1988 ("First Amendment"), which was recorded on January 5,
1989, in the Official Records of the Los Angeles County Recorder's Office as
Instrument NUmber 89-15234; and
(4) Amendment Number Two to Development Agreement dated as
of March 16, 1995 ( "Second Amendment"), which was recorded on April 11,
1995, in the Official Records of the Los Angeles County Recorder's Office as
Instrument Number 95-504419. (The Original Development Agreement, as
clarified by the First Memorandum and the Second Memorandum and as amended
and modified by the Firat Amendment and ~econd Amendment, is hereinafter
sometimes referred to as the "Development Agreement.")
- D. An app11cat10n has been subm1tted to the City's Department
of Planning ~ and Cornmun1ty Development for reV1ew and appro?/al of a
Mult1fam1ly Residential Hous1ng project and certain ground floor commercial
uses on the Undeveloped Property in accordance with the Development
Agreement.
E. The purpose of this Third Amendment is to provide that the
limitation in the Development Agreement on the maximum number of floors
which may be developed on the Undeveloped Property applies only to
cviflliiercial development and not to Multifamily Residential Hous1ng
development <)r above -grade parking, provided tho!le structures comply WJ.th
the applicable limits on Bu~lding Height. BUl.~alng -Vdl.ume ~nve~ope, TIoor
Area, and Floor Area Ratio. :rhi.s Third ,Am",nrJrn,.!1t does not in any way al ter
the Building Height, Building Volume Envelope, Floor Area or Floor Area
Ratio limits established in the Development Agreement.
F. Santa Monica Number Seven Associates, L.P., a Delaware
limited partnership (nSMNSA") , is the owner of certain real property ( .. SMNSA
Property" ) which is located near the Undeveloped property. The 5MNSA
Property was developed pursuant to the Original Development Agreement.
G. A copy of this Third Amendment has been submitted to SMNSA
in accorrla~ce with the procedure set forth in the Development Agreement for
amendments. This Third Amendment does not require the written consent of
SMNSA .
NOW, THEREFORE , the parties hereto do hereby agree that the
Development Agreement shall be further amended in the following respects:
1- The number of allowable stories in above-grade parking
garages and in Multifamily Residential Housing projects which have no
conunercial uses above the ground floor shall not be limited; provided,
however, that the structures otherwise comply with all other property
development standards in the Development Agreement including, without
limitation, Building Height, Building Volume Envelope, 5i te Coverage. Floor
Area, and Floor Area Ratio limitations.
2. The capitalized terms that are used in this Third Amendment
that are specifically defined in this Third Amendment shall be def ined as
set forth in this Th1rd Amendment. Capitalized terms that are not def1ned
in this Third Amendment shall be defined in the same manner as they were
defined in the Development Agreement. Terms used in this Third Amendment
which are not defined herein or in the Development Agreement, but are
defined in the Ci ty' s Zoning Ordinance on the date hereof shall have the
meanings given those terms in such version of the Zoning Ordinance.
3 . Except as amended by this Third Amendment, the Development
Agreement shall remain in full force and effect in accordance with its terms
and conditions. Notwithstanding the foregoing, in the event of any
inconsistency between this Third Amendment and the Development Agreement,
the applicable provisions of this Third Amendment shall govern as to the
Undeveloped Property, but the applicable provisions of the Development
Agreement without regard to this Second Amendment shall govern as to the
remainder of the site covered by the Development Agreement.
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. 4. The parties hereto shall cause this Th~rd Amendment to be
recorded in - the Offic~al Records of the Los Angeles County Recorder's
Office. The cost, if any, of record~ng this Third Amendment shall be born
by ADP.
IN WITNESS WHEREOF, the part~es hereto have duly executed this
agreement as of the date and year first wr~tten above.
CITY OF SANTA MONICA,
a mun~cipal corporation
By:
John Jalili
City Manager
ATTEST:
City Clerk
APPROVED AS TO FORM:
Marsha Jones Moutrie
City Attorney
TRANSACTION FINANCIAL
CORPORATION
A California corporation
By:
Robert Bieno
Its: Chief Executive Officer
THREE COAST LIMITED PARTNERSHIP
A Delaware limited partnership
By: CHELLE I INC.
Its: General Partner
By:
William W. Hammerstein
Its: President
STEPHEN H. SWIRE
FREDERICK A. FUCHS
BARBARA M. FUCHS
71da2a31.tst
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EXHIBIT A
Parcel A:
Lot 4 of Tract No. 49694, In cho ClLy of Su.Ia Momca.. County of Lo$ Anpa, Slate of
CaU!om1&. as shown on map recorded in Book 1175, Piles !7 to 40, incJusivc, of Mape.
in the office Of the County Recorder of saki County
Exupt Therefrom: that ponion moreof wbicb lies Southwesterly of I tiDe which is pmDel
wirh me Southwesterly line of Lot 6 of IIJd !net No. 49614 and nes diltll1t North 45
de,rees 15 minutes 00 secon4s East 208 .19 feet along me Ncnthwcsrcrly 11m I of Lots 6
&lid 4 from th&! most Westerl)' ,orner of old Lot 6.
Said land is shown IS Parcel A on Waiver of Parcel Map No. WPM96wOl. rceonled UDdet
Cettifiwe ot Compliance, reeordod April 4. 1997 II JDSlNmem No. 97-512250. Official
p.~~".
Parcel D:
Lot 5 or Tt=( No. 49694. in the CilY of SlIlta Moftica., County of Las Angeles, S&me of
CaUfomia., IS shown on map recDrded in Book 1175 I 'Iges 37 to 40. iDC1uslv~, of MIps.
ift the office of the Coun\)l Rcconler of sai<! Cowlt)'
Except Therefrom; \hat ponian tlwIeOf wt1icb Ita South'IICICCrly of. line which is parallcl
with the Southwesterly UDe of Lot 6 of SlId Tn" No. 49694 aad liel distant North ..5
degrees 15 minutes 00 seconds East 108.19 feet along the Northwesterly line s of Lou 6
ucl4 of said Tract 49694t ftom the most Weitetly comer of said Lot 6,
Said land is shown as Parcel B OIl Waiver or Pme1 Map No. WPM96.(Jl, reeorded UDder
Cerdtlcatc of CompUance. m:orded April 4. 1997 IS InslnlIIH2It No. 9'7-S1~O. Official
Records.
PARCEL c:
1boae partlons or Lots 2 &Ild 3 of Tract No. 49694, in lhc City of Sansa Monica, County of
Los AZ\Jelest State of California, IS showD on map recorded In Book 1175, Paaa 37 ro 40
l.aclusive ot Map"" in me office of the Coumy Recorder of said County. described as
fonows:
Slping at il point in me NCll\heucedy 1B of said Lot 1 dlstant South 44.43' SO. East
therr:on 119.63 feet from the Nonhwatarly tmniftUllbereofj m.~ alOI1g a llDe, wlllcb is
paraUal willi lhat cenaln COUtll! shown II having I baring and Ieagth of North 45- 15' 00.
East 2.06.~ feet in the Northweccerly line of said Lot 1. South 4S. 1St 00. West 206.11
feet; thence alQ~ a line, which is pe.raUel with that CCIWD course shoWIl II hiving a
Ct.TA PnlImWly bpan POI'M (R&y. )-1"'" ..
-. - 47
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~awrence ~ ~ardln9 o,j.L~ -..;'- ..-'-.... --- --
'-'.......I-'.1.-.J.J~f' .L" ....J(
CCT-":J.-'" t:I..... ..... 1...11:. ~""M"''''''''-. -..
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161S9.58
Page 5
beertng and lcnltb of North 44' 45' 00" West 310.45 fe=:r tn. lb. SauthWCSICrly line of saul
LotI, North 440 45" 00" West 10.46 fe!t; the1mc alonJ I Une which ls panlle1 'Nidi dw.t
certain course shown IS haying a bcaring and length of Norm 4S. 15' 00" Eut 280.43 feer
in the Northwesterly line of Slid Lol 2. Soulh 45' 15t 00" West 188w21 feci to a Hac whJch
is paranel wsth the SoulhwesterJ)' line Dr said Lot 2 and which PI" chrouSft a pow in cht
Southeuterly line Qf said Let 2 dwam NonheasIerly tbcnon 149.04 feet from thD mOSt
Southerly comer of said Lot 2, Aid point bc:iqg me TRUE POINT of BEGlNNINO fot
tills description: thence along said last mentioned parallel Uae. Sowb 44- 4$' 00. s.-
8S.18 feet to . point therein whi,h He:; South 44- 4S' 00. East Ihemm 8S,28 feat from said
Northwesterly ccnuin~ of a straig!lt line: lhera: Ilonl & line whicb is parallel with me
Narthwes&crly line of said Lot 3. South 4'" 15' 00. Welt 36.00 feet: &Mace alOJJllline
which is parallel with the Southwesterly line of said Lot 3, St'lIr" 44' 45' 00" East 190.47
feet to a point In a curve ~oncav, Southeasterly lid having a radIus of S05.00 feet ill die
So~theastCrly line of said Lot 3~ thence Southwesterly alona Aid curve tbrouln I czna&l
anale of 3- 36' 22" an arc diStancl: of 56.96 feet 10 a point tna ~ CODQve
SoulbeaslCrly aftd haviDs . radius of 11. 703.40 feet in tbI= Saudlcuterl1li1J1 of..id Lot 3;
d1cace Soulhwatcrty alonJ said tan memioued ~rve IhrouJh . ccmral qle of 00. 1 '"
09" In. ~ cbIWlCC of 58.39 feet to the most SOUtherly corner of uid Lot 3; dace ala..
me SOIllhwcscerly line ot said Lot 3. Nonh 44- 4S' 00. WU1232.00 _10 eta-
SoutbeasKerJ,. canw:r of aid Lot 2. thence North 44- 45- OO~ West 110111 the Southwesterly
11ne of Lot 2, 233.34 feet the the most Wcmrly comer ot said lilt memio_ lot: 1bace
a10lll the Northwesterly lbJe of said Lot 2. Norm 45' 151 00. East 149.04 feet to a paint,
aid point bears Nonh 44 degrees 4' micutcs 00 secoruls W.. from tbI True Paint of
BqiNllDlt cheBCC Soulb 44 dc&RCS 4$ miJllla 00 sccoDds East 199.94 r.lhe the True
Point of Be.irming.
SaId Ilnd Is 5hown as Parcel S on Certificate of compliaac:e Let Uae AdJullmellt No.
97L0T003. City of Santa Monica. recorded JUDe 19, 1907 u Instrument No. 97-916044,
OfrJclaI Records.
!.l=pt from I ponion or said land aU oil. p$ and miDerals riCtl1S below a depth of SOO feet
but withoUt right of Cfttry 1 as c~ted in the deed from Parker Manut.ac::tu.ri.Qs Company
recorded February 11, 1986 11 Instrumenl No. 86-182160, OffICial RecontI.
CL fA Ptdirrll.aly RqIon Ponn atev. l-I.95) )I- ~ 48
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TOTAL P.03
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