SR-213-006-
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C/ED:EDD:ERF:PW
Council Meeting: 8/19/86
TO: The Mayor and City Coe~ncil
FROM: City Staff
Santa Monica, California
SUBJECT: Adopta.an of Third Street Mall and Downtown Assessment
District and Maintenance Fea and the ApprovaZ of
Necessary Documents to Issue Certificates of
Participation to Finance Recommended Public
Imp~o~ements
INTRODUCTI~N
Tha.s report raquests that the City CounciZ hold a public h~aring
on the t~roposed Third Street Mal~ and Downtown Assessment
District and Maintenance Fee and, ~ollowing such hearing, confirm
the proposed assessment and fee. ~n addition, the report
r~commends that the City Co~ncil ~ake alI ~ecessary steps to
apprave the attached documents confirming the issuance of
Certificates of Participatian to finance propos~d public
improvements to the Third 5treet Mall and immediate Downtown
area.
BACKGROUND
On August 12th, the Gity Cauncil adop~ed the Third Stree~ Ma21
Specific Plan and Final Environmenta~ Impact Report. These
actions culminated a tUro year p~anning effort to establish a
cvmprehensive program for the revitalization o~ ~he Third Street
Mall and immediate Downtown area. The T~iall Specific Plan
provzdes property deve~oprnent and design standards, an operatzons
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and maintenance program~ recammendations fox phasing public and
private impravements, and a financing program to initiate the
Plan's ~.mmediate impl.ementation.
To date th~ City Council has tak~n various steps to implemant the
financing program. On July 8th, the City Council adopted
Procedura~ Ordinance No. 1377 (CCS) establishing the proc~ss by
wha.ch the City may cr~ate assessment districts and the method of
levying and col~.ecting assessments. By separate actian, the City
Council has authorized the procurement of bond caunse~ and
_necessary financiai consultant services to prepare the assessment
district and financing program.
On July 22nd, the Cou~cil adopted R~so~ution No. 7255 (CCS)
declaring its intent to establish an assessment dis~rict to
finance the recammendad public improvements and to establish an
annual ope~ativn and mai.ntenance f~e. The propased assessm~nt
district would place a lien agains~ each parcel of rea~ property
in the area and x-equire each proparty owner to pay a semi-annual
assessment to the City to finance the cost ot physical
improvements. Area businesses would be required to pay a fee for
the anticipated annual costs associated ~aith the operation and
maintenance of the area in an annual amount not to exceed five
(5) times their City Business License Tax or $15,400, whichever
is ].ess .
Since the Council's last meeting in July, City staff has he~d a
-saries of ineetings w~th property and business o~aners, the Third
Straet Development Corporatian, the Chamber of Commerce, and the
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respective property and merchant associations to d~.scuss the
financing program, the assessment d~.strict, maintenance fee and
adoption process, as we~l as to answer individual and group
inquiries relative to the proposed levy. A public meeting was
also spons~rad by the Third Street Development Corporation, the
Chamber af Commerca, and the Merchant and Property ~wners'
Associations on August 5th at the East Wing of the 5anta Monica
Civic Auditorium to pravide information and address questions by
the public and local users of the Mall.
_ Pursuant ta City Qrdinance No. 1377 {CCS) , legal notices of the
August 19th public hearing by the City Cauncil were published in
the Evening Outlook on July 25th and 31st and again on August 4th ~
and llth. A legal notice and informata.onal packet was a3.sa
mailed to alI property owners and businesses within the district
on July 25th. SimiZar legal notices were physica~ly posted in
various locations throughout the district on that date. Each of
~hese notices included the da~e of the public hearing and where
to request additional informata.on.
During th~.s period, City staff has also worked with bond counsel
and financial consu~tants to prepare all necessary docu~tents by
which to praceed with the issuance of tax exempt securities ~o
finance the proposed p~blic imprav~ment program. These documen~s
are attached fox review and consideration by the Council and are
discussed in greater deta3l in the subsequent sections of this
repart.
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FINANCING PROGRAM
There are two major program components for financing the
recommended public impravements to ~he Third Stre~t Mall. Th~se
ara: (1) the cost of the physical impravements to be charged
against property owners throt~gh the assessment district and, (2)
the vparation and ~ttaintenance fee to be charged against
businesses. In each case, there w~~l need to be an additional
amaunt contributad by th~ City toward each af these costs.
Jaintly, these program companents allow the City to proceed at
this time with the issuance of Certificates of Participation to
finance the r~cammanded public 3mprovelnents, pursuant to the
adopted Third Street Mall Specific Plan.
ASSESSMENT DISTRICT
~n J'uZy 15th, the City CounciZ adopted the attached Third 5treet
Ma11 and Downtawn Assessment District Repor~ by Katz, Ho11is,
Coren & Associates, Inc. which provided a genaral descriptian and
specifications of the w~rk to be undertaken and improvements to
be made in the distr~ct; an estimate of the cast of the
impravements; a map indicating the baundaries and zonea urithin
the district and, by reference, each parcel within the district;
and the propdsed assessmen~ tor the c~st and expense o~ the
proposed impravements. The report also sp~cified the method for
the assignment of the Zevy and the methad af col~ection.
Under the proposed assessmen~ district, the existing powntown
Parking and Business Improvement District, which was estabZished
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in 1965 to finance parkinq improvements, wauld be eliminate~ and
the City would defease the exis~ing bonds (outstanding principal
amount: $3.o millian). The defeasanee of the existing bonds will
be accomplished though a general fund apprapriation at this time,
which will be partialZy offset by a subsequent action to appro-
priate redevelopment funds far this purpose. Al1 funds far this
purpase have been previously reserved for the Mall.
A new district wou~d be created with geflgraphic boundaries coter-
minaus with the previous district. The public improvEments
- -recommended in tha Mall Speeific Plan would be financed through a
new annual 1.evy to be charged each parcel based on the gross
floar area of existing improvements and the degree af benefit
assigned to that parcel fro~n the improvements to be made. The
new a~sessments would nat be collect~d from area property owners
until approxima~e].y one year after the adoption af the new dis-
trict by Caunci~..
The Katz, Hollis report estabZishes three (3) zones tor a~locat-
ing costs and benefits within the new district. The assigned
levy is based on the ar~nua~ cast associated with the financing of
the improvementa benafiting that zone. As is the case in the
existing district, al]. parki.ng improvements are assumed to bene-
fit al~. parceis in the district equally, therefore their cost has
been equally assigned ~a all parcels in the new district. The
same has been assumed for al1 traffic and circulation improve-
ments to be constructed in the district. Individual common area
and assaciated public improvem~nts costs have been been assigned
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to thasa zones that wi~l aetually have thase improvements can-
structed in their area. Fi.gure l. graphica~ly depicts the bound-
aries of each zone and Figure 2. presents the cumulative costs
fQr each majar component in each zone.
Tha proposed as~essment district provides a credit for those par-
cels which pravide for their own parking and for raligious and
educatiana}. institutions that do not use their facilities an a
ful~-time or peak period hasis. An annual credit against the
parking companent of the total levy is provided in direct propor-
- tian to the amount of code parking provided either on site or
within 30d feet of the site. Any praperty owned or held zn
trust by a non-prafit corporation or en~ity and used excl~sively
for religi.ous purposes and/ar tha care o~ children shall be given
an annual credit equal ta 6/7ths (85.71~) oE their total annual
assessment.
As of Jun~ 30, 1986, any new deve].opment that provides for a net
increase in square footage and parking demand will be required to
pay an additianal annual assessment equal to $1.50 pe~ net in-
crease in gross square foo~age. This amount wil]. be used to
finance additional parking and relat~d impravements ~rith the goal
of maintaining adequate parking facilities to accommodate antici-
pated future growth in the area.
Based on the Council's request af July 15th to review the amount
af the proposed levy for residential units, it is staff's recam-
mendation that an additianal credit for residantial square
footage be added to the Katz, Hollis, Coren & A~~ociat~s Repart
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OCf~M xYEWC
THIRD STREET MAL~ AND DaWNTO1NN ASSESSN~ENT D~STRIGT
C, A- ~ BL4CK NUMBERS
•~ ~•••• EXTERIOR BOUN~RY
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NO1'~: FOF~ D~TA~l.S CONC~RNING lNDIV~DUAL PARCEL LIN~S AND o ~so FEEr
DIM~fVSIQlVS flEFER TO COUNTY ASS~SOR'S MAI~S. j"'ti,,,r"S,.f"1 Norlh
~ FIGURE 1
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FIGUitE 2
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Th~rd Street Ma~l and Downtown '
Ass~smen~ Dis~r~c~.
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4.41~ ~uit-.
Estimated Cast of Phys~ca! Improvements
~y Zone
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f ZONE 3 ZOI~E 2 ZO~~E 1 y ~ ZOWE 2 Z(7NE 3
t $0.3343 ~ $0.4~T? $1,0765 1 ~~0 4077 - , $0.3343 ~
~..Yan~~^-r , s • •
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Co,mmon Area
Improveme~ts
~0 568$
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A ~,,, : ..: ., ;rp" .,,~ ~n n~a4 . . . .. .
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dL~„~Y ~~ ALi.EY ~ o Q~~ ALtEY ~~ ALLEY
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~f Ju~y 1.0, 1986. This modificatian is based on ~he off-peak
nature of residential. parking, and would read as follo~,as:
"3. A c~edit shall be allowed annually ta any owner within
the district against the parking, the common area, a11ey
and sidewalk improve~en~s, and the additiona]. Ievy as
fol.lows:
A. The credit may be claimed by any owner within
the district for any parc~l in the district
provided the owner develaps or maintains
residential units on-site;
B. The amo~xnt of the tatal square footage that is
in residential use shalZ be eligible to
receiva a credit based an tha fallow~.ng:
i. 50~ against the parking component;
ii. 100% against the common area, alley
and sidewa~k ~mprovements; and
iii. 50~ against ~he additional levy."
Under this creda.t, residential square footaga in all zones wou~d
pay a maximum of $.17 per square foot per year rather than $.33
ta $1.~7. The correspanding assess~nent far new residential
square faatage would be $.75 rather than $1.50. This reducad
rate will alsa serve as an incentive for the development of new
residential space, which was an interest expressed by Caunci~.
MAINTENANCE FEE
At its Ju1y 15 meeting, the City Council also adopted a resolu-
t~.on declaring the City's intention ta adapt an ordinance to le~y
a fee ~or the operation, maintenance and replacement of improve-
ments in the distric~. The proposad maintenance fee wouZd be
~evied agains~ a~.l business~s in the distr~,ct and wouZd be equal
to five (5) ~.imes the City's Business License Tax as established
by Ar~ic~e VI of the Santa Monica Municipal Code. The fee would
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be callected in the same manner and subject to the same pena~ties
as the Business License Tax. The C~ty Council by resolution
wouZd be able ta adjust the annual amaunt of the fee, not to
exceed fiv~ (5) times the Business License Tax or $15,000,
whichever is ~ess, and to the extent that revenu~s from the fee
do not exceed the cast of tha aperatian, maintenance and repair
of the imp~avements.
Currently the City spends appraximately $670,000 per year far tha
district's common area and parking structure maintenance, opera-
- _tion and s~curity costs. This amaunt is estimated to increase ta
$800,004 per year in 1986 daliars once the public improvements
ar~ constructed.
TABLE 1 on page 9 provides an estimate of the amount to be paid
by each major bus~ness category far the prapased maintenance fee
based Qn the Cityw~de Busin~ss License Tax and the last full year
(FY 1984-8~y for which gross sales receipts are available for
businesses in the district. In total, a.t is estimated that ap-
proximately $600,OOO wi~l be collected annually. In terms of
impac~ on tha existing busin~sses, 82% of the total businesses
_ wou].d pay an increase of Zess than $25 per month over what they
paid in 1984-85. ~nly b~ o~ businesses wauld realize an increase
of aver $200 per month.
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TABLE I
AMOUNT OF MATNTENANCE OPERIITIONS FE~ TNCREIISE BY BUSYNESS TYPE
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Impac~ o~' Impact of
Less than ~Impact o~ zmpact af Mor~ than
Business Total $25 mo. $25-$~9 mo. $50-$200/ma. $20A mo.
Catego~ Busin~sses #~ o # %~ ~~#_ % # o
Retai~ 206 169 82o Z2 6% ~.9 9~ 6 3%
Service 148 122 83 ~ 1 ~2 8 12 8
Pra~es5ianal ~.08 79 73 2 2 14 13 13 12
Mfc~/Whole ,ale , Z6 15 94 ~ - 1 6 - -
Other 53 49 92 2 4 2 4 - -
Total 531 434 820 18 3~ 48 9°s 31 60
The fznanczal impact for ~hose business~s which wauld pay an zncr~ase of mare than $200/mo
is as foll.aws ;
AmoUn~ o~' Maintenanc
Business o af $200 - $402 -~
Cate~c orY Busi7ness $400 $850
Retail 6 3 2
Services Z2 7 3
Professipnal 13 7 4
Total 31 17 9
erations Fee Tncrea~e/mo.
$85Z - More than
$1000 $1000
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The City Council requQStad staff to consider a].terations of the
maintenance fee ta ensure reasanable equity thraughaut the dis-
trict far different types of uses. Staff was asked to cansider
whethar retail uses should b~ charged at a higher rate than other
business Zicense holders, and, along the same lines, if ground
floor uses shou~.d be charged more than upper flaar uses.
In examining the relativ~ contributions of retail uses versus
other professional and sarvice uses, it was determined that
retail businesses wil~ pay a higher propartion af the fees than
their prQportion o~ building square footage. Relative to the
total amount to paid by each business type, approximately 64.4$
of the total estimated annual revenue of $600,000 would be paid
by r~tail z~eerchants. Professionals wauld provide approXimately
29.8~ o~ that total. The remainder would }ae paid by the balance
of other busirsesses in the district. This i.s especially impor-
tant when according to the Third Street Ma~l Specific Plan, only
4U~S of the total existing square footage in the district is in
retail use. Thus, retail uses wi~l in fact be carrying the
naajority of the maintenance fee burden.
On the issue of ground flaor nersus upper floor charges, the Ma11
Speci~ic Plan {MSP) encouragas the use of rear ground ~Ioor space
for offices and e~im~,nates the current restrzction af this spacE
to retail us~s. The MSP also permits all ground ~loor uses on
the upper floors. Thus, floor ~evels wauld not appear to be a
valid way o~ distinguishing uses more poten~i.ally "vzsitar inten-
sive" (i.e. receiving more business benetit from the improvements
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in the district) from those less sa. Alsa, medical office use,
which is considered highly visitor intQnsive, is conditionally
permitted on all levels in the MSP. Therefare, modifications to
the fee structure based on floor level are not recommended.
It should be noted that at the recommended 1eve1 of maintenance
fee, total revenues wi11 not me~t all casts. At this time it is
estimated that the Czty's General Fund will need to absorb the
defi.cit bet~reen the maintenance fee collected and the costs of
operatians and maintenance on an angoing annual basis until such
- time as gross sa].es receipts for the district have sufticiently
increas~d such that the maintenance fee revenues equal expendi-
tures. Thereafter, the muZtiple for calculating the maintenance
fee may be lowered; that is, the five (5) timas the Business
License Tax caefficient can be reduced to reflect the tatai
amaunt then needed to c~v~r the cost of aperations and
mainten~nce.
S~a~f believes that these fees are reasonable and shou~d be im-
plemented immadiate].y, especiaZly given the ~evel of priority
that is placed by area users on the need far adequate maintenance
_ and security. However, sho~zld the City Council wish to phase in
the fee ta soften its impact on businesses, it is recommended
that col~.ections in the tirst year be set at 75% of the fee,
rising to 100% in the secand year. This wou~.d require that the
General Fund i.ncrease its commitment to meeting the anticipated
shartfall. by an additianal $150,000.
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CERTIFICATES_~F PARTICIP~T~ON
Under the prop~sed financing pragram, approximateZy $13.0 million
in Certificates of Participatian will be sold to private inves-
tors in order to finance the cons~ruction a~ the recQmmended
public improvements program. The value of the Certi~icates of
Participation will be evidenced by a new ~ease by the City and
the Parking Authority fox the ~ong-term leasing by the C~ty of
Downtown Parkzng S~ructures Nos. 1 and 3(located batween Santa
Monica and Wilshire along ~ourth Street). These ~tructures have
b~en estimated to have a fair maxket value greater than the
amount of the Cartificates and would be released as co~~ateral
fram the existing 196& mast~r lease the City holds with the Park-
ing Autharity for the six structures in the distrzct. The exist-
ing master lease for the remaining structu~es wouid be madified
to refl~ct these chang~s and the need to maintain prior terms and
conditions of the lease.
Proceeds of ~he sale of Certificates wi11 be used to fund the
$6,071,368 comm~n area and related circulation improvements and
the $4,155,000 of the first phase parki~g improv~ments which
includa the construction oF 300 new spaces. TABLE 2 below
pro~ides the estimated Sourees and Uses of the approximate $13.0
million of Certificates af Participation to be sold.
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TABL~ 2
CERTIFICATES OF PARTICIPATION
THIRD STREET MALL IMPROVEMENTS PROJECT
Estimated Sources & IIses
sources:
Certificate Proceeds $12,965,000
Accrued Interest 73t738
Tatal Sources $13,038,738
Uses:
Construction Costs $10,226,368
Debt Service Reserva Fund 1,139,019
Capitalized Interest 970,767
Underwriters Discount 324,125
Costs of Issuance 304,721
De~erred Interest 73~738
Total Uses $~.3,038,738
The totaZ amaunt of the issuance size is somewhat smaller than
the prior $I3.2 miZlzon amount that has been used in alI of the
City's estimates to date. These numbers reflect the prevailing
interest rate (7.9%) as of the writing of this report.
Thraughaut the term of this effoxt, interest rates have cantinued
to increase although wEll within ~he maximum interest rate cap
(8.774~) which has been used to ca~culate the maximum annual
assessments far each parcel in ~he proposed district.
Overal7. fZuc~uations i.n interest ratas are exgected to cantinue.
It is an~icipated that the range in fluctuatians may increase as
the September ls'~ date far enactment of the Congressional Tax
Bill draws near and a grea~er number af offerings are brought to
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market within this period. This may increase ~he overal7. rate of
interest for such of~erings.
Priar to final action ~n this matter by Council on August I.9th,
City staff will present an addendum to this repart in order ~o
apgrise Council of the latest information relative to the bond
market and to the City's pr~posed issuance. This addendum will
pravide Council with a staff assessment of these canditi.ans and
an averall recommendation.
In order ta proceed at this time however, it is necessary for the
City Cauncil and the Parking Authority to carresponding~y approve
the attached documents which are noted and briefly ~ummarxzed
b~low:
City Council ApprovaJ.s
~.. Resolutian canfirming the propas~d assessment,
ordering the improvements to be made, and the
County Assessar to collect the levy;
2. A Lease and ~ption to Purehase Agreemen~
between the City, as lesse and ~he Parking
Authority~ as lessar pertaining to Parking
Structures Nos. 1 and 3;
3. A Trust Agreement by and among the City~
Parking Authority and Firs~ Interstate Bank of
Caii£arnia, as Trustee ~roviding for the
executian and delivery ot the Certifa.cates oF
Participa~ion and procedures for estab~ishing
the variaus funds for deposit and paymEnt af
monies;
~. An Assignment Agreement whereby the Parking
Authority assigns its right to receive lease
payments under the propo5ed Lease to the
Trustee;
5 An Amended and Ftestated Lease Agreement
between the City and the Parking Authority
modifying the existing master lease for the
remaining Downtown Parking Structures; and
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6. A Reso~t~tion appraving the issuance of
Certificates of ParticipatiQn, execution of
the above referenced agreements, and
authnrizing actions as to the other reZated
matters.
Parking Authority Approvals:
1. A Lease and 4ption to Purchase Agreemnent by
the City as 1~ssee and the Parkzng Authority
as lessor p~rtaining to Parking Structures
Nos. 1 and 3;
2. A TruSt Agreement by and a~ong the City,
Parking Auti~~rity and First ~nterstate Bank of
California, as Trustee providing ~or the
executian and delivery ~f the Certificates of
Participation and procedures for estalalishing
the variaus ~unds far deposit and payment of
monies;
3. An Assignmen~ Agreement whereby the Parking
Authority assigns its right to receive lease
payments under the proposed Lease to the
Trustee;
4. An Escraw Agreement approving the defeasance
of the 196& Parking Author~ty Lease Revenue
Bonds;
5. An Amended and Restated Lease Agreement
be~ween the ~ity, as lessee and the Parking
Authority, a5 lessor ~odifying the exi.sting
master lease for the Dawntawn Parking
Structures; and
6. Reso3.ution approving the ~ssuance of
Cer~ificates of Partic~pation, execution af
_ the above referenced agreements, and
au~horizing actions as to other related
matters.
BUDGETlF2SCAL IMPACT
Funds are currantly available in ~he General Fund Balance from
which to defease the outstanding principal baJ.ance of the
existing 1966 Parking Authority Lease Revenue Bonds. Upon sale,
and ~he receipt of the proceeds trom sale of thE Certificates af
Participation, appropriatiQns will need to be authorized for
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capital account numbers 0~-720-263~000-920 for $6,07Z,368 to
finance parking improv~ments and O1W720-263-000-921 for
$4,15~,oa0 to finance the common area and circulation
impr~vements. In order to defease the ~xisting bonds, $2,204,151
must be appropriatad in account number D1-720-263-0~0~914, which
when added to th~ existing 196& Bonds reserve af $483,825 will
yield the amaunt ~equi~ed to be set aside now ta defease the full
$3.0 million outstanding debt. In a subseq~ent staff report, the
Redevelopment Agency will be asked tv appropriate $1,497,000 in
redevelopment funds to partially affset this expenditure.
RECOMMENDATxON
It is staff's recommendation that the City Council:
1. Adopt the attached resolutian confirming the Assessment
as modified in this report, ardering the proposed i~t-
provemBnts to be made; and designating the County Tax
Collector ta collect and receive the levy;
2. Introduce the attached ~peration and Maintenance Fee Or-
dinance for first reading by the City Counci~; and
3. Adopt the attached resolution praviding for the issuance
of Certificates of Participation, the execution af the
Lease Agreement, Trust Agreement and Contract of Pur-
chase, and the authorizatian to prepare Official State-
ment and other inatters related thereta.
4. Appropriate $2,204,151 to account numbar 01-720-263-914.
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It is staff's reco~nmendati.on that the Parking Authority:
1. Adapt the attached resolution praviding the issuance of
Certiticatas af Participation, executian af the Lease
Agreemen~, Assignment Agreement, Trust Agreement, Con-
tract of Purcha~e and Escrow Agree~rient, and authorization
of ather matter~ related thereta.
Prepared by: Peggy Curran, Direc~or
Community and Economic Development Department
Ernesto R. F~ores, Manager
Ec~nomic Deve3.opment Divisian
- = Linda Moxon, Deputy Ci~y Attorn~y
Attachments: l. Resolution (City Council)
2. Resolution (City Council)
3. Resolution (Parking Autharity)
4. Attached Agreements
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REPORT TO THF~ CITY CQUNCII,
~ on the
THI13D STREET MALL AND DOWNTDWN
ASSESSMPNT DISTRICT
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KATZ, HOLLIS, COREN & ASSOCIATES, INC.
for the
- CITY ~F SANTA MONiCA
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Third Street Mrill ~nd Dawnf,own Assessraent District RepQrt
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~ The City of 58nta Monica, in con~unction with the Third ~Lreet Development
Corporation (TSDC), has prepared a Draft Thirc~ Street Mall Specific Plan and
Env~.ronmenta~ Impact Report for the City's downtown pedestrian mall anr~
ad jacent periphersi areas. The Draft Plsn was prepared by the rn~~.ti-
, disciplinary consultant team led hy: Envicom (planning} with ass~stsnce frarn
Economics Research Associates (market analysie), Kaku Associates {parkYng
and traffic), and ARCHIPLAN (architecture, engfneering, and design).
~ The Draft Third Street Mall Specific Plan evlminates e series of progressive
r]ocuments prepared by the consultant team over the Iaat two (2) yesrs,
~ incZuding a market and economic feasibzlity ~naiyeis, s.n inventory af exiating
prabiems, an analysis of pass~ble deve~opment acenarios for the future of
Lhe area, and the preparation of a preliminary plan for review and
cansideratian by the p~blic, Boards and Commissians, and members af the
~ City Council. In response, the Draft Plan proviaEa new zoning and praperty
development standards; establi~he9 design guidelines far public and privat~
improvements; a~d recommends that specific pubiia improvements be
' constructed thrvugh the establishment of an assessment d~strict.
Since the Plan's release in April 1.98fi, the City has adopted a procedural
~ ordinance for the farmation of asaessment distrxcts in the City and far the
collection of assessment district levies. The City has also received
- assistance from severa~ conaultant~ to prepare the neceasary information and
findings for ths cr~gtion of such a district ta finance imprflvements to the
~ Third Street Mail and adJacent areas. To this end, ARCHIPLAN has reviewed
the recommended improvernents, updated estima~ed costs where necessary,
identifi.ed the IocaLion of 9pecific improvements, and prepared geographic
~ boundaries identifying the location af thres ge~graphical zanes of benefit.
I~tz, Hollis, Coren & Associates has cslculate~ Lhe aliocation of benefi~, for
each property nvvner based on the cost of improvetnents, the annual
~ principal and interesL payments required to retare thoae costs, and the total
groes floor area in each zone. The consu3tants have also relied on outside
- bond counse~ and underwriter services, prvvided hy O'Melvsny & Meyers
' arsd Rauseher Pierce Refsnes, Inc., respectively.
During this procesa, Cxty and TSDC staff have met with various affected
groups includang the Santa Monica Chambsr af Coinmerce, the Third Street
~ MerchanL and Property flwners Assaciations and have condueted specifzc
mee#.ings with ~ndiv2dual merchsnta ant3 proper~Ly owners on Thtrr~, Fourth,
and Seeond Streets. The purpose of these meetings has been to discus9 the
~ Draft Plan, Lhe praposed exterior assessment district boundsries and zones,
proposed improvements and their costs, and t~e proposed assessraent
for~ulae contained in this report.
~ PUrsuant t~ Procedural Ordinance No. 13?7 of the City of Santa Monica,
_ County of Los Angeles, State of Galifornia sp~cifying th~ powers and
procedures for formation af the Third Street Mall and Downtown Assessment
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District, thia Report hae been prepared for fi~ing with the City Clerk. The
Report contains ail of the following:
a) Plans and specificstions of the proposed iuiprovements incZuding the
clsas and type of improvements for each zone within the aeseasment
district;
b) A general descrxptian of worke or appliances slready installed and of
property necessary pr convenient far the aperation of the improve-
ments;
c) An estimate ~f the co~t of the impravement~ and af tt~a cost of land$,
rights-of-way, easements, leases and incidental expensea in connection
with the itnprovements;
d} A diagram showing ail of t~e follow~ng:
1. The exterior boundaries of the aesessment di~strict;
2. The houndariea of the three zones wit~in the assessment district;
3. The list~ng of each parcel of ~and within the as~essment district
by assessor parcel number and assessor parcel rrsap reference;
e) A praposed assessment for the costs and expenses af #.he proposed
improvements upan the several parcels of iand in the d~strict in
proportion to the estimated specisi benefits to be received by esch
parcel, respectively, from Lhe improvemenEs.
The Report has been prepared by Katz, Hollis, Coren & Associates, Inc.,
~ financial cansultants, pursuant to Pracedural Ordinance No. 137'7. The
find~ngs of the Report sre con#.sined herein.
The Report rncludes Exhib~ts A t}~rough E. Each Exhibit addressea the
~ information and documentation required by Lhe Ordinance in the Report in
the order of its presentatian above,
~ Exhibit A - A report prepared by ARCHIPLAN Urban Design
Cpllaborative entxtied "Third 5treet Ma21 and Downtown Assessment
District Proposed improvements and Projected Gosts" dated June 27,
~ 1986. The ARCHIPLAN document contains:
a) Plans and specifications of the proposed improvements;
b) A gerieral description of th~ works ~r appliances already insta~Ied;
~ c) An estimate of the cast of the improveruents and the cost o£ lands,
rights-of-way, easements, Isases and incidental expenses in
eannection with the improvements.
~ E~hibit_ B- A disgrarr~ whzch shows:
~ a) The exterior boundaries of the assessment distr2ct;
t~) The boundariss of the thres zones wzthin the assessment dzstrzct;
c) The lines anc~ c~imEnsians of each parcel af lsnd within the sssess-
' ment district.
Exhibit C An asaessment ro11, described ~y assessor's parcel nuri'~ber.
The roll lists the names and add~esses of the n~uners Qf each parcel
~ within the propos~c~ assesament district as shown an f.he 1985-86 Los
Angeles Cnun#.y Secured Tax Rall and shows the $mount prnposed to ~e
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specislly assessed agaanst each parcel of real property within this
~ assessment c~iatricL. The asses$ment roll is keyed to the disgrs~ on
Exhibit B by assessor parcel number.
' Exhihit__D - A Certificates of Participation payment ~chedule prepared
by Rauscher Pieree Refsnes, Inc., u#.ilized to calculate ~987-88
in$tallments. Future installFqents will be based on princ~pai and
~ interest calculations sha~cvn an Exhibit D.
Pursuant tfl the order of the City Cauncii of the City o€ Ssnta Monica, the
following assessment is proposed to cover the part~on of t~e estimated cost
~ of work ar~d improvements as described in Exhibit A, herein.
The ter~ of thi~ assessment shall be 3a yeare, or the finsi maturity of any
~ Certificates of Participation or indebtedness ~ssusd to fund the improvementa
described on Exhibit A.
~ Based on the da#.a collect>ed, three zor~es of benefxt have been estsbhshed.
Unaer the terms af the proposed asaessment the total combined cnst af
parking and circula#,ion improvements h~ve been allocated eqiaally across the
district on the basis of the tota~ gross floor area within the district.
~ Speczfac cornmon area, aI~ey and sidewa~k improvements have been ~11aCated
based on the co9t of improvements to be constructed withfn eaeh zone and
the to#.aI gross floor are~ within that zone.
~ Grosa floor area has been defined as the totai leaseable floor apace in a
structure and includes restrooms, carrzdars, basements, and stairways.
~ Square footage estimates have been basea on aeria~. and field estiinates hy
ARCHIPLAN and corroborsted against Cvunty Assessar ane3 City Building and
Plannin~' records. In additian, a prelimi.nary su~.mary title report for the
entire area was also util~zed to verify ownership an~ square faotage data.
~ This was fallowed by a computerized mail2ng to all property awners
rsquestzng verificstion or correctian of data where necessary. For purpases
of this report, the total gross floor area for the distrtct represents that
~ which was calculgted to exist with the proposed bot~ndaries as of June 30,
1986.
~ The ainount to be paid for s8id work and improverr~enLs and incidental
expenses is as follows:
A. Zone I improverttents $ 7,249,435
~ B. Zc~ne Ii icnprovements 1,532,762
C, Zone I~I irnprovements 1,444,3.71
Subtotai Impravement CosLs $1~,226,368
~ D. Financing Costs
Reserve Fun~ 1,2$I,307*
L Capi.tali~ed Interest 1,118,812*
Underwriter's Discount 33I,500*
Issuance Costs 3~2,d13*
Stab#.ntal Financing Gosts $3,033,632*
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Totai Cost $13,260,000*
2987-5$ Principal and Interest 1,269,243s
Balance to Asseesment 1987-88 $ 1~269~243
*Bssed an assumptiona ahotnrn on Exhibit D.
Assesamen#.s will be cQ11ec#.ed in advance in semi-annual ins#.allmen#.s on #.he
basis of prajected annual principal and interest payments on Certificates of
Participation proceeds used to fi.tnd the improvements as zvell as the City's
pro~ectec~ annual cost of administering the assessment district. The parceis
are numbered to correspond with the numbers upon the diagram attached as
Exhibit B which shows the i~oundaries and dimensions of the respective
psrcels of land within the assessment distrrct as the same existed at tha
time of t~e passage of Procedural Ordinance Na, 1377.
Assessments are included an all propertiss specislly benefited by the
proposed innprovementa. The assessments are pl.aced on each parcel,
severally and respect~vely, in propartian to the special benefits received b~
sUCh parcels from the improvemenLs. Th8 reapective assessment9 are set
farth in Exh~bit C. The detailed descrxption of the Iines and ainnensians of
each parcel of land is contained in Exhibit B by reference to its parc~l
number as shown on the Assessor's maps of the Caunty of Los Angeles for
the fi.scal year of 1985--86.
~ The City Covncil has deterrnined that the I987-88 princ~.pal ~nd interest on
the Certifxcatss of P~rt~cipation w~I~ represent Lhe 1987-8$ assessment
installmEnt. Installment~ in, futtare years wi]1 be ca~culated an the baszs of
the princip8l gnd interest payments on the Certificates for the coming year,
~ as well as the Citp's pro~ected cogt of administering the assessment district
and the replaceinent costs far ~mprovements for that year. Certifieatea wi13.
bear interest at g tr~e interest rate not to exceed 8,774 percent, and shall
~ ~ature on August 1, 2016. Principal and interest payr~ents have been
calculated by Rauscher Pierce Refenes, Inc. at an assumed true anterest rate
of $.774 percent and are shown nn Exhibxt D.
1 To determine the annua~ assesement ins#.aliment for a specific parcel, the
principal, interest, adminis~ra~ive and replacement costs for the year in
question wiil be apport~oned according to the zone in which the parcel is
~ lacated, the gross floor ares af the paroel ~n proportion tn the grosa floor
ar~a in thafi, zone, and the gross floor area of the parcel in progortion to
the ~roas f~oor area of the ~istrict. This calcuia#.FOn wiil be adjusted
~ annt~ally by the City, but in r~o event shall it exceed for any gpec~fic parcel
the amount ~evisd against ~hat parcel for the 1987-8$ assessment installmenL,
except as indicated beIow.
, Based an an annual compu#.atian of the gross floor area of each parcel, the
City wz1l calculate the annuai assessrnent installment for a apect~ic parcel as
follows:
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Zone 1
((Parcel GFA / District GFA) x Admin. Cost))
t((Parc~l GFA / District GFA} x p$I on parking & circulsti~n imp.))
+((Parcel GFA / Zane i GFA} x P&I an Zone 1 common area, alley, & sidwlk
imp. ) }
Zone 2
((Parcel GFA / District GFA) x A~min. Cost})
~ +({Parcel GFA I District GFAj x P&I an parking 8c circulation imp.))
+((Parcel GFA / Zone 2 GFA~ x P&I on Zone 2 common area, aliey, & szdwik
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Zone 3
, ((Parcel GFA / District GFA) x Admin. Cost))
~ +({Parcel GFA / Districf. GFA) x P&I on parkin~ & circulation imp. ))
In each formula above, GFA means gross floor area and P&I ineans prFncipai
~ and interesf. payments. In no ev~nt shall the Pa~rcel GFA far a specific
parcel be less than the amount calculated for the 1987-SS assesement
installment. Based on the cost estimates for the improvements contained on
~ Exhibit A and ~he princzpa~. and Ynterest payments cantained for the
improvements as a whole on Exhib~.t D, the annual principal snd anterest
payment for parking an~ circulation improvements will be approximateiy
~ 47.6% Qf the annuai principal and interest totaI; the annual principal and
interest payment far ~one 1 common area, alley and sic~ewa~k Frnprovements
wil~ ~e approximstely 49.6~ af the annval princa.pal and ~nterest total; and
the annual principal and interest payment far Zone 2 common area, alley,
~ and sxdewalk iinprovements wil~ be approximatelp 2.8% of the annual principal
and fnter~st total.
~ The formulae shown abowe have been converted to assessinent rates per
gross floor area. As shown on the as~essment sumFnary page on Exhibit C,
the 1987-$8 assessment per gross floor area for ZQne 1 is $1.0754, Zone 2 is
~ $b.4077 and Zone 3 is $0.3343.
Credits against elI or a portion af annual assessment installments will be
granted to parcela fulfilling either of the fQ~IoNring proviszons:
~ 1. Any property owned or held in trt~st by a non-prafit
corporation or ent~.ty and used exclusively for religiou:s
~ purposes and/or the c$re ar ed~catian of chiidren shall ~e
given a credit eq,ual to 6/7 (85.71~) af their annual assessment.
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2. A credit shall iae allowed annually a$ainst that partion of the
~ as~sessment rel~ted to parking and circutation improvemen~s as
follows:
~ A. The credit may iae claimed by any owner wif.hin the
district which providea and maintain~s off-stree~ parking
facilities open to free use by the public. The parking
L facilitiss shall:
i. be Qwned, leased, or under control of the owner of
the property within the dietrict,
ii. be locsted wxthin the district or within 300 feet of
I the owner's properi.y if lacated outside the di~trict,
ni. prnvide ininimurn free parkxng per~ods of not less
than one hour,
~ iv. prohibzt parkYng by entpioyees;
B. The amount of cred~t shall be a percentsge determined ss
1 follaws: the amaunt ~f parkir~g prozrided at the facili#.y
divided by the amo~tnt of parking required by the zoning
code. In no evenf, sha1I the credzt be greater than the
amount of property owner's annual installrr~ent.
' The farmuiae For annual assessment installrrtenLs shown above shall pr~vai~.
anrl be administered equally to aIl parcels within the district, provided:
~ I. Any net increase in the nuIni~er of parking epaces requzred by
development af any parcel ~.n the district shall be sub~ect to an
, additionai annual. parking Ievy equai #.o ~I.50 per square foot of
the net inerease in gross floor area. This amaun~ represents
the additional annual assessment installmen#.s necessary ta
finance the Phase iI add~tionai parking improvements as
~ described in Exhib~t A, cansistent with f,he increased deveIap-
ment forecasted in the Thzrd Street Mail Specific Plan.
~ 2. The addition~~ parking levy shali ~e collected at the ti~rrte of
iasuance oF s certificate of accupsncy by the City, prorated for
~h~ time remaining until the next date for recalculation af the
' annual assessment xnstal~.ment by the City.
3. On an annt~al basis, the City shall establish whether it is
feasible to }~uild the P~ase II additional parking xmprovements
, as descr~bed on Exh~bit A given f,he projected cost of the
aaditional parking improvein~nts, the increase in grcass #'~.oor
area, the amount aecrued from previous callect~on of the
I add~tianal parking Ievy and the abiZi#.y of the a~ditional
assessment coliections f.o support principa~ and interest
payments on the adc~itional psrkzng improvemenLs.
~ 4. Any development on any parcel in any zone of the district shall
be sxempt fro~r- this additionsl parking Ievy to the extent Lhat
the levei of required parking for such developrnent as specified
~ in the Santa Manica Municipal Gode is provided.
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~1-iIRD SIR~ET ~{ALL ~idfl D~W~ITOWN ASSESS~l~T DESTR{CT
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~ PRO~OSED I MPROYENENTS
AN D
PRQJ ECTEO CQ5TS
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Ju~y 10~ 1986
~ ( R ev E se d)
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~ Pre~ared f ar :
Ci ty of Santa Nbni ca
~ Eco ~an 's c Qev e! o pme nt 0 i v t s i on
~ Prepared by :
ARG-i IFLAN urban desi gn qo[ I aborati~e
6624 Mel rose A~enue
~ Lo5 Angel es, Cal iforni a 90038
{ 213 ) 933-1200
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~ ~3-1 iRD STREFT MALL
APtD D0~lNTOWN ASSESSNENT DISTR IG?
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~ I. DESCR I PT ION OF PRQ~SED I MPRQyE1rENTS
Proposed improvements for the Thlyd Street Ntai I Assessmeni- Dastrict are
descrEbed in dei-ail on the fo~iaxfng pages as sunmarixed frcm the ThErd
~ Street Nial f Speclf ic P1 ars. With i~ the weral I asses5mer~# di str i cfi are
~hree (3) d i sti nct zones as i I I ustra~ed on F1 gure t. TF~e speci f ic
improvenents al iocated to each ofi those zones are as fol lavs:
~ A
ZONE E
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~ 1. ~~ird Street Ma~s Improvenents IncVud'-ng new pa~ing, street
furni#ur~, I ighti ng, banners, slgnage/logo, entry gatetirays,
landscape, pavil ions and fhe Centra! Plaza. (100~ al location)
2. Parki ng and Ci rcul ati on Improvanents (Phase 1) i ncl udi ~g addi ng
, 300 new spaces ~o parki ng structure Nuriber 5, moderniz i ng
structure ~iumber 6, addi ng retai I space on fhe ~ound t I ocr ofi
structure Number 5 and pro~v idi ng cross street pav ing at Thi rd
~ Street and W i I sh i re $ou! evard, Artzoria A~enue, Santa Moni ca
Boul evard~ and Broadway. Tf~is woul d al sa incl ude the Arizona
Street Prcmenade which oansi sfis of street trees, signage, banners
and crosswafk paving from Third 5treet to the Pal isades. (47.1~
~ al Iocatio~)
Parki ng Improvanents (Phase 1 I l i ncl udi ng add~ ng 600 ~w spaces ta
~ the rgnai r~i ng strurtures and moderr~iz i ng 2 addi ti ona~ parki ng
str uc# ~sr es.
~ 3. AI I ey lmprovements i ncl udi ng pav i ng, I igt~ti ng, banners, and
1 andscape at the passageways from the Parki ng Structures fio the
h9ai I( 50~ al I ocati on? .
~ B. ZOtdE ! ] :
]. S9gnage and 8anners al ong Seoond and Fourth Streets (300$
aliocafiion?
~ 2. A1ley lmpro~anents E50~ allocation)
3. Parki ng and Ci rcul ati on Impr~s~ents Phase i and I~ ( 26.9$
' al I ocati on)
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C, ZONE [ I l; Park~ ng and Ci rcul atE an lmgravements ( 26 .Q~ al l ocati aR~
' ~ ~---- ------- -
~r ~ ~r r~r ~ r ~rr ~r w~ +~r~ ~ ~ a r^~ ~ ~r +~^~ ~ w~
~ ~ . ~ __" _' - • . . . . . . . . . . . . .
--1~- I
~ R.~~.r~4 , ~ ^w~~r~ i
~ ~ I ~
~- ! :,~ ~~ ~ ~
~ J ' ` ~ ? ~
, m .~~....,., 1.. ~ ...._, ~ ~..4~...~ ...
_ - • f
~ ~ o
~ ~
0
m
I ~Tk SSREE~
~ , -- B_2 ~ o_~ ~ ~ ' F_~ ~ ZONE 2 -------~ -
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_. ~ ,~.- •----~----- . -~---,.~.~.--~.,._...~._._.~ ~
~~ I B-1 ' D- ~ : F' y I~ ~
1~ ~ THIRD ~ ~S ~ KEET~ ~ = MALL ! zO~~ ~ ~ ~~
-~- -- ~ Q_ 1 • ~~ 1 x E_ ~ . ~ ~ ~I
• u
~ ~ ~._. ._._ _._----- ------------------------~ ~ I
~ ~ ~ ~ ~ ~ ZOtNE 2 `
a-2 C-2 E-2 `'
f . _ - • ------ - _ .. -
ZN0 SSREE'S ~ .
I _ ....--r' ~ '- _'_ -_' _. .._~.~__', -'. ~"__.---__-,- ' __-_• _'_s'.~ . . . . " ~ I
t
~ ~ I : ~L ~~ ~I~ .:~ ,. -:. ; ; { ~a ~~ . . '.~~~~~~ ~~ - ~ ~ o I
, #. , ~ ~ _ ~~ ~ . __ ~ o
~ ~ ~ -,,, ~
.. ~r~r~ - ;.._..~; i r~rrr «rrr~. ~ ~ i ~..~ ~ _ ~ --- - ..., ~.- - -- ~. -----_-_____--
I -~--
,
~--- _ --- ~ l - ~ -- _ --
Qtf ~N 1~YEMlE
THIRD STREET MAL~L AND DOW~TOWN ASSESSMENT DISTRiGT
G, A-~ BLOCK NUMBERS
~ ~ •• ~ EXTERIOR BQUNDRY
NOTE. FOR DETAILS CONCERNING INDIVIDUAL PARC~L LlNES AND
DIMENS14iVS FIEFER TO C~UPISY ASS~SdR'S MRr~. .
sce~a ~
4 ?50 F[E i
~~n North
FlGURE 1
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Ma I 1 Im orq~ emenf5
~ The Th i rd Street Maf ! Speci f Tc PI an proposes fhat al I exi sti ng Mal I
Impro~ements be removed and repl aced w ith new publ ic fmpravements
i ncl udi ng I a~dscape, s~ gnage, street furni ture, i tghti ng, pav ing, artd
~ entry gateways. 7his camplete restructuring of ~Fhe mall publ ic spaces
wiil be designed to provide a more suitabfe pedesi-rtan shoppfng
en~iror~nent apd urbar~ center within downta~rr~ Santa i~lonica. Key oomponents
~ afi th i s rev i~al iza~1 on pl an i ncl ude ~he ~ol I av ing:
~. Theme l,ogo and 5 tgnage
~ A unique symbol wEE I ha developed for #he Third Street t~lal l whEch
beoomes easi E y t dent i f l ab4 e#o assl st i n estabt ; sh 4 ng a r~er~ fheme or
i mage f or th e r~v i#a I i z ed Ma I I. Th I s new 1 ago w i 1 I be i ncor por ated
on all directional signage entry gateways, informat~on kfosks,
~ parki ng E ocati on si gns a~d adverti sements as wel ! as ~ramoti onal
goods (st~opping bags~ information pamplets, flyers or newspaper
advertisements) and vther appropriate s~ements.
' A thematic sign system wil t be deslgned for the er~tire Mal f dtstr~ct
which pronrides a variej-y of sigr~ ty~es for various functioRS and
I ocati ons, such as Mal ! passageways from the parkE ng structures, Mal I
~ f de nt i# i ca t~ on a f th e cr oss str eets a rtd tem par ary s I gn s dur 1 ng
speci af ev ents. 71~e se f eCt ed f ogo w F 1 i be ~ ncor por ated w i~fi each of
these di recti ona~ si gns to prov Tde an i den~if iabl e image throughou~-
~ the MaI [ distric-F.
An impartant ingredient ir~ the logo and sign pragran is the selectian
of an appropr 1 ate theane ool or #or use 1 n al I of these el ements. Th i s
theme oolor wil~ assist both in Identification a~d orientation for
~ NEa I I custamer s,
2. Nfal f Entry EI ements
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Di s-Yi nc~ mal l entry el ements w i i 1 be uea#ed at each entry to the
tY9ai I fran the cross streets. Qiffer~nt entry treatme~ts w i I I be
dev el ope d f or each of ~h e s i x e ntry po f nt s e i tf~ er i n-Fh e f orm of a
~ pylon i'ype entry ~ign~ gateway structure, ~ar~dscape, #reatrnent, ar a
grouping of f~agpoles. The objecFi~e is to cal [ attention to the
ma4 I from -~hese cross streets and ~~ov ide a se~-se af i~~ itai-lon and
I i dentf ty for the 7h i rd Strset Mal I
3. Landscape
, A ~ew landscpe program wi-thi~ the Mal I wif l be designed which focuses
on tt~e creati on of a pl easant shoppi ng env Ironment recogniz ing the
Mal i's adjacency to the ocean and its potenti al as a new focal poi nt
w i th i n the Santa Mani ca dbwntown. A new 1 andscape organiz ~ ng
~ str uct ur e w i I I be i nsta I l ed w h i ch creates a mor e I i near ch aracter,
i nterrupted by pl azas and other speci a~ focal poi nts. Three types of
trees wi1 t be used w if~nin this fr~nework:
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~ a. Accent trees fcr s~eci al areas where emphasi s is Emporta~t.
~al ! trees, such as pa! ms or popi ar trees xrouE d be appropr i ate.
b. S#reet trees, which wii I be the common theme tree for the Mal I,
~ provfding shade wfthout bl~cking signage or~ views #hrough the
Mal ~. ~ondon P! ei n trees ar L iqui d Amber trees are pofienfi al
street tress.
' c. Ornamenta! trees, these specf al pI anti ngs w i I I be used to prov i de
col or and excitement at o~tdoor di ~i ng areas, the oentral pl aza
or oth er act i v T ty areas.
' A s~andar~ fanily o# mweable planters wII I be used for shrubs and
flawering plants. This wtll allow flexibil i#y at special times
durf ng the year to regroup cl vsfers af pl ant contal~ers for specia~
, occasions.
4, hlal 1 Repav f ng
~ The entlra Mal I sur#ece wil I be ~epaved #o upgrade the overall image
and character of the Mall s~rface areas and provide orientat~on to
customers by def f ni ng specl al areas w ith E~ the Mal I for wal ki ng,
' si tti ng, or eati ng. ~he pav ing systen wil i incl ude a basi c concrete
pattern w i th speci aE areas pa~ed i n ti l e or br i ck occurr~ ~g accardi ng
to d i f ferer~t use s. 5peci al ar~as of pa~ T ng w i i 1 al so be des i gr~ed by
local artl sts to add addltional I~fe and vartety to the pavSng
^ s~rfaces w i~h i n the Mal 1.
5. New Str eet Fur n i tur e
I A coordi ~afed #am i E y af street furni tu~'e el enents w f I 1 be i nstal I ed
which creates a sense of unlformlty and theme fo the Mal l area.
Furniture elemer~ts wi~ I be functianal ~n form, simpl ified and
~ sfiandardized in appearance and at tt~e same tlme have a unique
character to enhance -Fhe Mal I's special envfrorment. Street
furni ture el emen~s w I I I I ncl ude benches, trash reee~taGl es, dr i nk i rtg
fountai ns, bol I ards, bi cycl e racks~ and bus shel ters. ~n speci al
~ areas, artists wiil deslgn eiements of street furntture to pro~ide a
uniqus qeral ity tp the er~v ironmenf.
, 6. Sanners
A system of r~y I on banners w i I I be used on I ight pol es to create a
col orf u~ festive en~ irorment w fth minimun expend~ture and maximum
~ flexibi i ity. This banner system wf[ I help to reinforce #he image and
~denfity es#abl ished fhrough ~he recommanded s(gnage and fogo program
and prov i de conta nui ty frcm the Th i rd Street Ma1 I to ~aurth and
Second Strests and a! ong Arizone ~o Ocean Avenue.
, 7. Lrghti ng
~ A compl ete new 1 igf~ti ng sysfem w i I I be f nstal E ed for the Mai 1 to not
or~fy pro+v f de safe func-tii onal i igfi~t~ ng I e~e1 s but al so i~o ereate a
festive, exciting night time ernfronment appropriate to the new
activ iti es proposed for the Ma[ i. The program w i I I establ ish
'
consi~tent lfghting levels bu'~ at the same t?me allow suftEclent
~ tlexibii ity in the system so that i-t may be modified In csrtaln areas
for special occasions, such as psrfa'ming ~r#s fesi'ivals or art
shows. The new I ighti ng system wEl I lncl ude new I ight standards
~ fihroughout the Mal ~, t~vof t 1 lghts tn trees at special Iocations ar~d
theatrlcal I ighti ng at the Ge~rtrai PI aza.
~ 8. ~av i I i ons
'
In order to enl iven and ac-riv fate the 80
right o# way of the Ma! I
pubi i c area pav f i ion strucfiures, based on a modul e of t 0' x 10~ be
a! ! owed w ith i n the centrat zone of the Mal I. These pa~ I I io~s can
, contatn either publ ic or prE~ate uses ~ncludtng retail sales,
restrocros, art gal f er i es, caf es, news stands, and f nformaft on
booth s.
~ Uti ~ i ti es
9
.
I~ecessary u#i { I#y 1 S nes to serr i ce the proposed { tghti fig, I andscape
~ i rri gatf on system, pav i I i ons and ac~iv i-ty areas w I! I be I ocated
uniformly throughout the Mall's center space and cnncealed fran
v i ew .
'
In order to crea#e a foca[ point within the fihree block MaI I and
' sstab~ i sh an exci fi~ ng urban space a central activ ifiy pl aza and mee~i ng
place would be de~eloped within the t3Q0 block. This wiil be strvctured
to f aci I i tate outdaor concerts, theatr i ca I perf ormances and exh i b i t; ons
~ w ifih ou#door di ni ng areas co~centra#ed around th i s spaoe tv rei nforce
people achivity. Eiements ofi this centr-al plaza wTIE include:
1. A central foun-~ai n or water e! ement des~gned tv be used as a central
stage or outdoor seatf ng area when -~he water i s draf ned from the
1 fountai n. A( arge scui pture or th~e -Fawer woul d be i nci uded i n th i s
central pl aza area f n arder to establ ~sh i ts i denti ty fran a
di stance.
~
2. Landscape and trees around tf~e cent~a! pi a=a w i I I pro~ i de support
ta the central character of the pl aza thraugh thei r hei ght and/or
~ speci al col or.
3. Free s~andi ng pav il ions around the central pI aza wi~ I inci ude
cafes, restrocros, newstands, art gai Eeries or o}her faci f iti es ta
~ support the urban charec#er9 sti cs of t[~e pl aza.
Initl al ~mprovemer~ts for the CentTal Pi aza woul d be oonf lned ta fhe 80'
pu~l ic R.O.W., hov~ever-, s~cial incent~ves within the Specific Pian wvuld
~ encouraye enl argement of th Es pl aza i nto ad~ acent pri~afie properiy ir~
cvn~ uncfi i on w ith new ~evel opment.
~
~
~
' inwrporated wsthin thsse speGial paving areas at #he ~TftBT'S~CtIORS
w ii ! be auto passenger dro~off areas to faci 1 itate thls activ ity in
the Dow ntown.
~ 2. Parki ng I mprwenents {Phase !?
A. 300 parki ng spacas w i i i be added to exf sti ng parki ng structu~e
~ Number S. ~his wil I be accompl ished by adding two fioors to the
exiating four [evEl structure. This structure was originally
dasigned to ~ake addi#ional #locrs for expansion.
~ B. 1~loderniz ~ng exi sti ng parki ng structure Nunber 6 wi I E aE so be
accompl ished which wiI I include renovatTng the facade to pravide
an upgraded Image, repainti ng the 1n#erior, prav idf ~g new
i nter i or and access si gnage, cutti ng openi ~gs i n the stai rwel I s
, ta prov ide natural ! lght and ai r, and- restri ping the parki ng
s~a! I s f or i ncreased ef# ici ency.
~ C. Renovation af the ground floa- of park~ng str~~tures to prwide
rov i de new retei ~ spaoe w E I I al so be accompl ished to prov i de
pedestrian cantinuity af the street. This wil l yield
appraximately 7,Q00 square fee~t ot new ser-vic~ orien#ed retai!
' S Pd C9 .
3. Parki ng Impro~ements {Phase I I)
~ A. b00 spares w i I I be added to the renai ni ng parki ng structures.
This wi1 I be acoompi 1sfi~ed by adding 2 floors to the existing four
level structures. These stre~ctures were or(ginaE ly designed to
1 take addi ti onal fl op-s tor expansi on.
B. Mocferniz ing 2 rem fani ng parki ng sfructures which wi ~ E ir~c~ ude
renovati ng the #acades to prov fde aR upgraded image, repai nti ng
~ the intertors, praviding new interior and access signaae, cutting
openi ngs i n the stai rwe! I s to prov f de nafural I ight and at r, and
restr f pi ng the parki ng stal I s f~r i ncreased efif tcieney.
, 11. DESCRIF'TIOi~ OF EX[STiNG IMFROVENENTS
~ En vrder to impl ement the proposed imprwemenfs w ~~h i n the ~h i rd Street
Mal I Assessir~ent DistrEct the fo~ lowing existEng improvements wii I require
remaval or rev i si on:
~ A. Th ~rd 5treet Mai E: A1 I exi s~i ng pav ing, pl anters, street trees,
founirains, street furniture, and I ighting wii~ be rgnwed Qr
demol ished i Rcl udi ng exi sti ng streef pav ing at the h1aE I crosswa~ ks.
' B. A I f ey s: A por t i on of th e ex i st i ng pa~ i ng ( 10' x 15' ) a t th e
entrances to the al I eys frcm the cross streets a~~ af the entrances
fran the parki ng structures to the Mal !( 15~ x 100') wil I be ranaved
~ to a[ i ow tor new pav i ng repl acement. Sel ecfitve other pa~er~ent
rgnavaE s w il I al so be requi red for the add+tton of pl anters at the
hlal I entra~ces.
1
~ C. Arizana Avenue Pranenade: Sa1 scttve si dewa~ k r~no~val for street
t~ee wel I s w i I I be req ~ i red a5 wel I as crosswal k demol i ti o~ at
Arizona A~enue ar~d ~ourtt~ Stree-Y and Ocean Avenue.
1
,
~
~
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'
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~ ~ ~ ---- _ _--- - -
'
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WILSHIRE B~ULEVARD
ARIZONA AVENUE
~
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AR~ZONA AVENUE
„~ ,
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SANTA MONICA BOULEVARD
SANTA M4NICA BOULEVARD
~
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sROAQWAY
1
ZONE SUMMARY UDSTS (REVfSEU)
Th i rc~ Street hA~l I and OownFawn Assessmant Df str i ct
C~ ty ot Santa Moni ca
PHASE i
7~TALS - z~NE
I Wiishfre Crossing (a7.1~) 45,036
II Arfzor~a Crossing (47.1~} 46,37fi
f I I Santa Hlonica Crossi ng {47.1~) 70,198
IV Broadway Crossing (47.1~) 52.856
V Alley Impro~pnents 50~ 34Fi,439 173~4f9
1f 1 Mak i Passages (a1 1 owance for- 6) 169,637
X 1 200 BI ock af NEai I 1,4fi9,139
X I 1300 B I ock af Mal ! 1,896,773
Xl I ! 40Q Block of Mal ! 1,326,058
XI I f Speci a~ Art Consul tati on 60~ 68,000 40,SOQ
XIV Parking lmprovanents (Phase !- 47.1~) 1,956,156
Arixona Promenade (47.1~) ~f8.635
Subtota! - Zone 1 7,3b5,143
TOTAL S - ~ONE
1 Wilsnire Crossing (26.9$) 25.783
il Arizona Crossing (26.9~) 26,550
III Santa Monica Crossing (26.9~) 4Q~t88
1V Broadway Crossi ng i26.9$) 30,2fiQ
V AI I ey Improvements 50$ 346,939 173,463
V f I 2nd Street lmprovanertts 43,643
VI i 1 4t~ Street lmpr'ovgnents 43,643
XIII 5pecial Art Consultation 40$ 68,000 27,200
XIV Par'kf ng Impro~~nents (Phase I- 2fi.9~} 1.] 19,886
Arizana Premen~do (26.9~) 67,9t8
Subtotal - Zone !i 1,598,539
~~ i~i ^~w r rr ~ ~w r~ ~w ~r rr ~r ~ ~ r~ ~ ~ ~ ~^^~
TOTfV.S - ZON~
I W i I sh i re Crass~ ng (26.a~ } 2~1,840
! i Arizona Crossi ng i25.0~) 25.580
I!I Santa Monica Crossir-g (26.0~) 38~719
iV Broadwray Crossing (26.0~} 29,154
XIV ParkEng Improvsments (P~ase I- 26.0$? 1,078,958
ArEzona Pranenade (26.0~1 65,435
Subtotal -zone III ~,2b2,b8b
70TAL - Phase I 10,226,36$
PFi A5 E ! I
Zones t, 2, and 3 ParklRg improvements 7,350,000
GRIWD TOTAL - PFiAS~ i AND PE-fASE ! I ]7,57b,36$
~(note: percentages taken fran Katz Hol I is Report)
~ i i~~ i ^ ~ ~ ~ ri ~ ~ ~s ~ rw^r r ~r ~ ~ ~ r ~
C4S7' SUMMAF~Y SHEETS
Third Street Mall and ~owntown Assessment Dlstrlct
Ci ty of Santa Moni ca
Cnsfi Subtota[ Tota!
I Nf I i sh i re Cross E ng
A. Qemo~ ition $ Remaval 7,000
B. New rnnstr uct i on 68,620
Subtotai 75,620
Contingency 15$ 11,~43
Subto~ha I 86,963
A$ E Fees 10~ 8,b96
70TAL 95,659
II Arizona Crosstng
A. Demol itton d Rsinaval 7,000
B. New constructtor~ 70,870
Subi'ota I 77,874
Conti ngency 15~ ~ 1 ,68~
Subta-~a I 89,551
A~ E Fees 10~ 8,955
TOTRL 98.506
l!I Santa Monica Crossing
A. Demoi i~Inn 8, Removal 7,000
B. ~few cansi~r uct i on 11 0,870
Subtotal ~ 17,870
Co~t1 ngency 15~ f7,fi81
Subtatal 135,55?
A$ E Fees 10~ 13,555
T07AL ~ 49,106
IV Broadway Crosstng
A. Demol ition ~ Remaval 9,450
B. Nsw constructlon 79~3flp
Subtotal 88,750
Cont E ngency ~ 5$ 13,313
Subtotal ~p2,Q(~3
A$ E Fees 10~ 1 Q,2a6
T07AL 112,269
11111111 I~ I~I ~ ~ ~~ ~ ~ ~ ~ ~ ~ ~ ~ A ~ ~ ~ ~
~
Cosi- Subtotal Tatal
V f~! f ey Impro~vemQnts (b req uf red)
A. ~emo! i tl on ~ Removal 1,440
B. New construct~on 44,27p
Subtotal 45,710
CantingenGy i5$ 6,857
Subtotal 52,567
R 8 E Fees ~ 0',°~ 5,257
Subtotai g7~g23
TOTAL FOR UNITS fi 346,939
V I Mal i Passages {al I ow far b)
A. Demol ition 8 R~rnaval 3,000
B. New construction 19,35Q
Subtota! 22,350
Conti ngency 15$ 3,353
5ubtotal 25,7Q3
A & ~ Fees 10~ 2,570
Subtofia I 28,273
T07f+~ ~'OR UNlTS 6 ~{yg,637
YII 2nd Street Impro~ements i3 blocks requfred}
R. Demo~ i ti nn & Remwal
8. I~ew constr uci' I on 1 Z,500
Subto~a~ 11,500
Contingency 15~ 1,725
Subtotal 13,225
A 8, E Fees 10$ Z,323
Subtotal 14,548
TOTAL FflR UNETS 3 43,643
VE~G 4th Street Improvements (3 blocks required)
A. Demol itf on d Remwal
B. New consfruction 1i,500
Subtata~ ]1,500
Conti ngency 15~ f ,725
Subtotal ]~,225
A 8, E Fees i 0~ 1,323
Subtota I 1 q,g4g
~0 ~AL FO R U N i i"5 3 43 , 643
Cost Subtotaf Tatal
Ix Arizona Prcmonade {2 crossings requ€red)
A. pemol itfon d Ranoval (,~~0
I B. New construction 160.000
~~ Subtotai 166,000
' Continyency 15~ 24,900
~, Subtotal 190,900
A d E Fees 10$ i 9,090
Subtota! 209.990
TOTf~. FOR UNETS 2 ($419,980) 251 ,988*
( 60~ w i th i n Asse ssment D i str i ct f ran 1 sfi C#~. to 4 th Ct. )*
X 1200 8! ock of Ma I I
A. Demo! ition & Remova~ $0,$00
B. New construction 614,125
C. speci al ftems ivartabl es) 46b,450
Subtotal 1,161,375
Cor~t t ~ge ncy 15~ 174,206
Subtotai 1~~~~~~g~
R~ E Fees 10~ 133,558
TOTAL ~ ,4b9,139
XI 1300 Block of Mall
A. Demol tfi on 8, REmoval 8p,gflQ
B. New construction 6t4~~25
C. speci el Items (varlabl es7 804,500
Subtotai f,499,425
Cant( ngency 1 5$ 224,9~ 4
5ubtotal ],724,339
A 8~ ~ Fees 10,~ 172,434
7QTAL ] ,89b,773
xll 14Q0 BEock of Mall
A. Demol f ti on 8 Ranaval 80,800
B. New construction 6~4,125
C. special Iterns {varlables) 3,53~~5p
Subtotal 1,U48,275
Conti nger~cy 1 5~ 157,241
Subtotal 1,205,516
A b E Feos 9 0~ 120,552
~~'~- 1 .326 ,068
Cost Subtotal To~al
XI I I Speci al Art Consuf tati on 68~000 ~~--~ ~,
~~
XIV Parking Improvements (Phase I)
arki n str.uct~~e--.. .
Rda $
P P _ ~.. _.
_._ _.
~
~ __._._._. ,
~
r
`
C . ~-
.ti
~
~.
000/spaco~
9
x 300 ~ , aa
2 70~ 0 ~
Modernize one struc~kure {without adding new space ~'
120,00Q S. F. x$2.00/S. F. 240,OOQ
5ubtotal - ~ 2,940,Q00
A 8 E and Conti ~gency @ 25$ ~.,__735,p00
Subtotal
'~ 3,675,000
Construct retei I space @ ground f I oor -- -~~ -~~_
/3~4,000
A& E and Continge ncy @ 25~ 96,Q00
Subtota I 480 ~OQO -.-__...~.._ '
~, ~
TOTAL 4,155,aao''
`~ XV Park~i~ng `~provem s (P ~~ase-T1~_. __ _-__~ V.
Add b00 spacesz t~ king structures -
$9,000/spacs x b00
5,400,Q_a0.. ...~.._...__.._ ~.~
- ~ `_~
Nbderntze 2 structures (wif t adding new
spa~s) ~ ~
-^--- --~~
24p,000 S. F. x$2.00/S. F. . 480,004
Subtotal _ - 5,880,Q00
A 8 E and CQnt+-~gericy @ 25$ ~,470,000
T03'AL - - 7,350,OOd
r~~ ~^~i ~ ~ ~ r ~r ~ ~ r^~r w~ ~^r r ~r ~ ~^^~ ~^r ~r r~
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DOWNTOWN ASSESSMEN7 D151"CZ~GT
c~TY aF ~c-KT4 rvtvrltCa. ~*•~• •°~M°~
~]~ [) ~~,. ~f~H~L ~,~ ~FINAL
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-- LABOR COST ENGINEERING ESTIMqTE
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M24 MEI.l10S~ AYEMIfE IOR IIiIOELES
Z17•4~.7-120A G~-, ~70.~11
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~
~
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DDWN74WN ASSESSMENT D~sTRiGT
c~TY OF ~A~TA M~r~tiGn •~-^~ °•M°~
5~' CMRTIG
Q~°* ^ t°°• []•~~~~ ~•~ ~
OuANTITY M~ITERIA~ COS7 LASOR C05Y ENG~HEE R~NG ESTI~ea7~
~~`~R'~,~~ /1UMEEfl VN1T UIYITCpST T(ITAL UXIY(;p$T TOTAL (JMITrpST TOTA~
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CI~Y OF SANTA MONICA
CER7IFIC14TE5 OF PARTICIPATION
THIRD STREET MALL IMPRDYEMENTS PR0~3~CT
Sources & lJses
Bond Proceeds 513,200,000
Tatal So~rces $13.2~0.000
Constructian Costs ~10,226,368
Debt Servlce Reserve Fund 1,281,3G7
Capital~zed I~terest 1,1i8,8I2
lfnderwr~ters Discount 331,5~0
COStS of Issuance 302,CI3
Total Uses $13.2~O.OCJ
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