SR-08-28-1986-6G
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AUG 2 8 1966
cjED:RAS:RM:nh
Councll Mtg: August 26, 1986
Santa Monlca, California
TO: Mayor and Clty Councll
FROM: city Staff
SUBJECT: Recommendation to Adopt Resolutlon Approvlng Flnal Map
for Tenant-Particlpatlng ConverSlon TPC-005 at 728-730
Llncoln Blvd.
INTRODUCTION
ThlS report transmlts for Clty Councl1 approval a Flnal Map for
the followlng tenant-participatlng conversion proJect:
Tract No. TPC No. Address
Owner
Dnlts
TPM 16724 TPC-005 728-730 Llncoln Blvd. Stanton
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BACKGROUND
The Cl ty Plannlng COnuTI1SSlon approved the Tentatl ve Map and the
Tenant-Participatlng Conversion for the above proJect on March 4,
1985, after a publlC hearlng and a careful reVlew of the record
and staff recommendations. The action of the Planning CommlSSlon
was based on the Commission's flndlngs that the proposed Tenant-
partlclpatlng Converslon meets the requlrements of Artlcle XX of
the Clty Charter and that the proposed subdlvislon lS conslstent
with appllcable general and speclfic plans as adopted by the Clty
of Santa Monlca along with all mandatory requlrements of the Sub-
dlvislon Map Act of the State of Californla.
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AUG 2 6 198i
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The owners have subm~tted to the C~ty a Wr~tten Consent Agreement
bl.nd~ng the owners and any successors ~n ~nterest to each condl.-
t10n imposed ~n connection with approval of th~s Tenant-
Particl.pat~ng Convers~on. Th1S Wr1tten Consent has been approved
by the C~ty Attorney and the C1ty Manager. Each partlc1pat~ng
tenant has been ~nformed ~n wr~tlng of hlS or her rights under
Artlcle XX of the Clty Charter. The L1cense D1V1Slon reports
thdt proper arrangements have been made to ensure payment of the
Tenant-Participatlng Converslon Tax.
The Flnal Map conforms to the Tentat1ve Map. The Flnal Map has
been cert1fl.ed by the C1ty Englneer for conformance with the Ten-
tatlve Map and condltions thereon, the SubdlV1Sl0n Map Act and
local ordlnances. The City Attorney's off1ce has approved a Dec-
laratlon of Covenants, Cond1 tlons, and Restrlctlons I or equl va-
lent document, for this proJect as complYlng wlth the conditl.ons
of the Tentative Map and the Tenant-Partlclpatlng ConverSlon.
CounCl.1 approval of a flnal map for a tenant-particlpatl.ng con-
verblon represents one of the last steps necessary ~n the conver-
s~on process. Follow~ng City Council action and recordat~on of
the Flnal Map the appllcant may beg1n selllng the unl ts to the
tenants. As each unlt is sold a convers~on tax per Section 2008
of Artlcle XX 1S due In an amount equal to twelve tlmes the
monthly maximurr.. allowable rent for that unl t. These taxes will
be used to asslst low and moderate lncome households to purchase
or lmprove their unl.ts subJect to affordable repayment per Sec-
tlon 2009 of Article XX.
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BUDGET/FISCAL IMPACT
The recommendat1on presented 1n th1S report does not have an 1rn-
med1ate budget or f1scal impact.
If and as units in the proJect
are sold 1n the future, Tenant-Part1c1pat1ng Conversion Taxes
w1ll be collected pursuant to the prov1s1ons of Article XX of the
C1 ty Charter and some 1ncreased property tax revenues may be
generated.
RECOMME1JDATION
It lS respectfully reco~~ended that the F1nal Map for th1S
Tenant-Partlclpating Converslon be approved by adopt1on of the
accompanY1ng resolut1on.
Prepared by: R. Ann Slracusa, Dlrector of Plannlng
R1chard Mllls, Assoclate Planner
C1ty Plann1ng D1V1Slon
Communlty and EconomlC Development Department
CC'IPCOOS
RAS:R.N:nh
08/07/86
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RESOLUTION NO.
7292
(CCS)
(C1ty Counc11 Series)
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF SANTA MONICA
ACCEPTING AND APPROVING
A FINAL SUBDIVISION MAP FOR TRACT NO. 16724
THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS:
SECTION 1. That the F1nal Map of Tract No. 16724 1n the
City of Santa Monica hereby 15 accepted and approved.
SECTION 2. That the City Clerk hereby 15 authorized and
d1rected to endorse upon the face of said Map th1s order authen-
t1cated by the Seal of the C1ty of Santa Mon1ca.
SECTION 3. That the City Clerk shall cert1fy to the adop-
tion of th1s Resolution, and thenceforth and thereafter the same
shall be in full force and effect.
APPROVED AS TO FORM:
~~. k e~
Robert M. Myers
C1ty Attorney
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Adopted and approved this 26th day of August, 1986.
Mayor
I hereby certify that the foregoing Resolut10n No. 7292(CCS)
was duly adopted by the City Council of the City of Santa Monlca
a t a meeting thereof held on August 26, 1986 by the followlng
Council vote:
Ayes: Councilmembers: Epstein, A. Katz, H. Katz and
Mayor Reed
Noes: _Councilmembers: None
Abstain: Councilmembers: None
Absent: Councilmembers: Conn, Jennings and Zane
ATTEST:
G~~ /71 ~~
, . Ci ty Clerk