SR-05-13-1986-6D
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Mm 1 3 1936
C/ED:RAS:RM:nh
Councll Mtg: May 13, 1986
Santa Monica,
Callfornla
/ '77"
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TO: Mayor and Clty Cauncll
FROM: Clty Staff
SUBJECT: Recommendation to Adopt Resolutlon Approvlng Final Map
for Tenant-partlclpatlng Conversion TPC-008 at 2462
Arlzona Avenue.
INTRODUCTION
ThlS report transrr-l ts for Cl ty Councll approval a Flnal Hap for
the followlng tenant-partlclpatlng converSlon proJect:
Tract No. TPC No. Address
Owner
Units
TPM 16635 TPC-008 2462 Arlzona Avenue
Well
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BACKGROUND
The Clty Planning Corr.mlSSlon approved the 'I'entatlve Map and the
Tenant-Partlclpating ConverSlon for the above proJect on March 4,
1985, after a publlc hearlng and a careful review of the record
and staff recommendatlons.
The actlon of th€ Plannlng COrnID1SS10n
was based on the CommlsSlon's findlngs that the proposed Tenant-
partlclpating ConverSlon meets the requlrements of Artlcle XX of
the Clty Charter and that the proposed subdlvlSlon lS conslstent
wlth applicable general and speclflc plans as adopted by the Clty
of Santa Monlca along wlth all manaatory requlrements of the Sub-
divislou Map Act of the State of Callforula.
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MAY 1 3 1916
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The owners have submitted to the Clty a Wrltten Consent Agree~ent
blnding the owners and any successors 1n 1nterest to each condl-
t10n 1mposed 1n connect1on w1th approval of th1S Tenant-
Partlclpatlng ConverSlon. ThlS Wrltten Consent has been approved
by the Clty Attorney and the Clty Hanager. Each partlclpatlng
tenant has been lnformed 1n wri tlng of his or her rlghts under
Artlcle XX of the Clty Charter. The License D1V1Slon reports
that proper arrangements have been made to ensure payment of the
Tenant-Partlclpat1ng ConverSlon Tax.
The Flnal Map conforms to the Tentatl ve Map. The Flnal Map has
been certlfled by the C1ty Englneer for conformance with the Ten-
tatl ve r>'Iap and condl tlons thereon, the Subdl V1S1on Map Act and
local ordlnances.
The C1ty Attorney's off1ce has approved a Dec-
laratlon of Covenants, Cond1t1ons, and Restrlctlons, or equlva-
lent document, for thlS proJect as complying wlth the conditions
of the Tentat1ve Map and the Tenant-Partlclpatlng ConverSlon.
Councll approval of a flnal map for a tenant-partlcipatlng con-
verSlon represents one of the last steps necessary 1n the conver-
Slon process. Following Clty Councll action and approval by the
Californla Departwent of Real Estate the appllcants may beg1n
sell1ng thelr unlts to the tenants. As each un1t 1S sold a con-
version tax per Section 2008 of Artlcle XX lS due In an aJ110unt
equal to twelve tlmes the monthly maXlmum allowable rent for that
UUlt.
These taxes wlll be used to assist low and moderate lncome
households to purchase or lmprove thelr unlts subJect to afford-
able repayment per Section 2009 of Artlcle xx.
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BUDGET/FISCAL IMPACT
The recommendatlon presented In th~s report does not have an lm-
medlate budget or flscal impact.
If and as unlts In the proJect
are sold in the future, Tenant-Participat~ng Convers~on Taxes
wlll be collected pursuant to the provlslons of Artlcle XX of the
C1 ty Charter and some lncreased property tax revenues may be
generated.
RECONl'1ENDATIOK
It 15 respectfully recow~ended that the Final Map for th~s
Tenant-Part~c~patlng ConverSlon be approved by adopt~on of the
accompany~ng resolutlon.
Prepared by:
R. fu1n Slracusa, Dlrector of Plannlng
R~chard M~lls, Ass~stant Planner
C1ty Plannlng D~V1S1on
Communlty and EconomlC Development Department
CC2
4-28-86
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RESOLUTION NO.
(ccs)
(C~ty Councll Serles)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MOKICA
ACCEPTING AND APPRCVING
A FIKAL SUBDIVISION MAP FOR TRACT ~o. 16635
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS:
SECTION 1. That the Flnal Map of Tract No. 16635 in the
C~ty of Santa Monlca hereby ~s accepted and approved.
SEC'IIOK 2. That the City Clerk hereby is authorized and
dlrect~d to endorse upon the face of sald Map thlS order authen-
tlcated by the Seal of the Clty of Santa Monlca.
SECTION 3. That the Cl ty Clerk shall certlfy to the adop-
tion of thlS Resolutlon, and thenceforth and thereafter the same
shall be ln full force and effect.
APPROVED AS TO FORM:
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lW-\J""">,.....J\. C\
Robert M. Myers
C~ty Attorney
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