sr-111709-8a~~~ City Council and
~~~Y or Redevelopment Agency Report
Santa Monica
City Council and Redevelopment Agency Meeting: November 17, 2009
Agenda Item: ~~
To: Mayor and City Council
Chairperson and Redevelopment Agency
From: Andy Agle, Director of Housing and Economic Development
Subject: Redevelopment Agency's FY 2009-2010 through FY 2013-2014 Five-Year
Implementation Plan
Recommended Action
Staff recommends that the City Council and Redevelopment Agency adopt the
Redevelopment Agency's FY 2009-2010 through FY 2013-2014 Five-Year
Implementation Plan.
Executive Summary
California Community Redevelopment Law requires the Agency to prepare and adopt a
Five-Year Implementation Plan to delineate the goals, objectives, programs and
estimated expenditures for the Earthquake Recovery, Downtown, Ocean Park 1A, and
Ocean Park 1B redevelopment project areas. This staff report highlights the key
components of the proposed Implementation Plan for the period of FY 2009-10 through
FY 2013-14. The goals, programs and funding allocations in the proposed
Implementation Plan reflect the long-term redevelopment funding priorities adopted by
the City Council at its May 12, 2009 and June 9, 2009 meetings
Discussion
The Agency's existing Five-Year Implementation Plan, adopted on November 23, 2004,
covers the period of FY 2004-2005 through FY 2008-2009. To comply with
Redevelopment Law, the Agency must adopt an Implementation Plan for the next five
years, FY 2009-2010 through FY 2013-2014. Similar to the Implementation Plan for the
last five years, the proposed Implementation Plan for the next five years summarizes
the accomplishments of the last five years, outlines the specific goals and objectives
and estimated expenditures for the next five years, and provides an explanation on how
the goals, objectives, programs and proposed expenditures will improve the project
areas. Based on the funding priorities determined at the May 12, 2009 and June 9,
1
2009 meetings, the new Implementation Plan contains the following programs and
allocations:
^ Earthquake Recovery Redevelopment Project
The Plan anticipates that over the next five-year period, projects and activities will be
funded with available tax increment revenue and debt financing structures. In
implementing this financing strategy, staff estimates that the Earthquake Recovery
Redevelopment Project Area will generate approximately $283 million, net of statutory
pass-through payments to other taxing entities, required set-asides for affordable
housing, administrative expenses and debt service. The Earthquake Recovery
Redevelopment Plan identifies five primary goals for the project area. The five goals
and the programs and activities to support those goals include:
• Disaster Prevention and Mitigation: The Implementation Plan proposes to
continue to fund disaster prevention and mitigation programs to meet the
City's seismic retrofit needs and mitigate against effects of future disasters.
Funds will be used for rehabilitation of the Santa Monica Civic Auditorium,
implementation of the Traffic Signal Master Plan and property acquisition to
support the reconstruction and expansion of parking resources called for in
the Downtown Parking Strategic Plan. ($56.4 million)
• Commercial Revitalization: The Implementation Plan proposes to revitalize
and promote economic investment and business expansion in the Project
Area or of benefit to the Project Area, and preserve the area's existing
employment base by supporting improved access to the Project Area by
employees and customers, primarily by supporting enhancements to the
Exposition Light Rail Station Areas. ($10 million)
• Community Revitalization: The Implementation Plan proposes to improve,
repair, rebuild and provide parks and community facilities including: the
Palisades Garden Walk and Town Square parks; open space and facilities in
the Civic Auditorium District; the Civic Center early childhood education
center; the Pico Neighborhood Library; planning and design for the Civic
Center parks and facilities, and the Memorial Park expansion.
($115.9 million)
• Affordable Housing: In addition to the project area's anticipated 20 percent
housing set-aside increment revenues, the Implementation Plan proposes to
invest $43.6 million from the project area's non-housing funds toward the
preservation and production of affordable housing. ($43.6 million)
• Institutional Revitalization: The Implementation Plan proposes to help
achieve community goals associated with the Santa Monica-Malibu School
District's master plan for the Santa Monica High School campus, including
2
creating a pedestrian and bicycle connection through Santa Monica High
School, and designing constructing facilities for joint-use between the school
and the broader community. ($57 million)
^ Downtown. Ocean Park 1A and 1B Projects
-Over the next five years, the Implementation Plan proposes to allocate, in addition
to the anticipated 20 percent housing set-aside increment revenues, all net
available; non-housing tax increment funds of $15.1 million toward the production
and preservation of affordable housing, consistent with Council's 1999 direction.
($15.1 million)
^ Affordable Housina Proaram
With non-housing tax increment revenues of $58.7 million allocated toward
affordable housing, leverage of State-mandated housing set-aside funds, net line
of credit proceeds, uncommitted fund balance through FY 2008-2009 and other
miscellaneous redevelopment funds, the Agency will have combined housing
resources from all project areas of approximately $160.9 million for its affordable
housing program.
The Agency's resources and future implementation of the programs will be affected by
the scale and timing of its issuance of debt instruments or use of other financial
mechanisms to .fund capital improvements- during the next five years. Particular
constraints such as State "Take Aways" and opportunities not fully predictable at this
time may arise in the course of undertaking the projects and activities described in the
Implementation Plan. The specific projects and activities actually implemented may
vary in their precise timing, location, cost, expenditure, scope and content from those
set forth in the Plan. Therefore, the Implementation Plan is intended to serve as a
flexible guide. If circumstances arise which result in an increase or reduction of Agency
resources, adjustments can be made accordingly.
Housing Component and Ten-Year Affordable Housina Compliance Plan
Health and Safety Code Sections 33413(b)(4) and 33490(a)(2) and (3) of the California
Redevelopment Law requires the Implementation Plan to include a Housing Component
and aTen-Year Housing Compliance section which provides information to:
3
• Summarize historical and projected housing production, the Agency's affordable
housing obligation and the Agency's progress in meeting the obligation;
® Forecast the estimated number of dwelling units to be privately developed or
substantially rehabilitated between fiscal years 2009-2010 through 2018-2019
and over the duration of the Redevelopment Plans;
® Forecast the estimated number of dwelling units to be constructed or
substantially rehabilitated. with Agency assistance between fiscal years
2009-2010 through 2018-2019 and over the duration of the Redevelopment
Plans,
® Project the .availability of Agency revenue for funding affordable housing
production; and
® Provide explanation of how the goals, objectives, projects and expenditures will
implement the low- and moderate-income housing set-aside and housing
production requirements.
Redevelopment law requires that inclusionary housing requirements be met every ten
years. If the Agency. has exceeded the requirements at the end of the ten-year period,
the Agency may carry over the surplus units and count them toward the requirements of
the following ten-year period. Given the ability of the Agency to carry forward surplus
units from one ten-year period to the next, the number of affordable very-low income
and low-income housing units already created in the project area, and the City and
Agency's continuing. commitment to affordable housing, no difficulty is anticipated in
meeting the inclusionary housing requirements for the project areas.
Mid-Term Review
Staff will return to the Agency with a report at the midpoint of the FY 2009-2010 through
FY 2013-2014 planning period, providing an update on the efforts and progress of the
proposed activities and program expenditures in the Implementation Plan. If necessary,
the Implementation Plan may be adjusted to address changing circumstances and/or
new opportunities.
4
Public Noticing
This item was publicly noticed for four weeks in the Santa Monica Daily Press
newspaper (October 6, October 13, October 22 and October 27) and posted in four
permanent locations within each project area, pursuant to Community Redevelopment
Law, Section 33490 (d). In addition, notice was mailed to those persons and entities that
requested notice.
Financial Impacts & Budget Actions
There are no immediate budgetary impacts associated with the adoption of the new
Implementation Plan. The.lmplementation Plan simply sets forth the anticipated use of
redevelopment funds; funding for specific projects will be appropriated as part of the.
City's broader budgetary process.
Prepared by: Tina Rodriguez, Redevelopment Administrator
Approved:
Andy Agle, Director
Housing and Econq
Forwarded to Council:
P.
Hager
Attachment A: Redevelopment Agency Five-Year Implementation Plan
FY 2009-10 to FY 2013-14
5
T
Five-Year Implementation Ian
FY 2009-10 through 2013-14
Prepared for:
Santa Monica Redevelopment Agency
November 2009
221 Main Street
Suite 420
San Francisco CA
94105
415.618.0700
fax 415.618.0707
www.seifel.com
Table of Contents
Santa Monica Redevelopment Agency
Five-Year Implementation Plan
FY 2009-10-FY 2013.14
Executive Summary ..............................................................:......................: l
I. Introduction .......................:............................................................. I-1
A. Organization .................................................................................................. .................................. I- I
B. Implementation Plan as Guide ....................................................................... .................................I-2
C. Description of Project Areas .......................................................................... .................................I-3
D. FY 2004-OS-FY 2008-09 Agency Accomplishments ................................... .................................I-6
E. Agency Expenditures during FY 2004-OS-FY 2008-09 ................................ ...............................I-13
II. Redevelopment Program Goals, Projects and Activities............II-1
A. Goals and Objectives .....................................................................................................................H-1
B. Five-Yeaz Implementation Plan Revenues ....................................................................................II-5
C. Five-Year Projects, Activities and Expendimres .........................................................................II-10
D. How the Agency's Proposed Goals, Objectives, Programs and Expenditures Will
Eliminate Blighting Influences ....................................................................................................II-16
III. Housing Component ..................................................................... III-1
A. Affordable Housing Obligations and Housing Production Plan ........................................... ....... III-2
B. Replacement Housing Obligation and Program .................................................................... ....... III-9
C. Agency Housing Resources .................................................................................................. ..... III-12
D. Affordable Housing Program ................................................................................................ ..... III-16
E. Agency Affordable Housing Activities over the Previous Implementation Plan Period...... ..... III-25
F. Completion of Housing Obligations in Ocean Park lA and 1B ........................................... ..... III-29
Santa Monica Redevelopment Agency i Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Table of Contents
Santa Monica Redevelopment Agency
Five-Year Implementation Plan
FY 2009-10-FY 2013-14 (cont.)
Figures
Figure I-1 Project Area Location ...................................................................................................................I-4
T$bICS
Table I-1 Redevelopment Plan Financial and Time Limits .................................................................... .......I-5
Table I-2 Agency Implementation Plan Expenditures and Additional Capital Improvement Project
(CIP) Commitments FY 2004-OS through FY 2008-09 ............................................ .....I-14
Table II-1 Projected Revenues Available for Non-Housing Programs Earthquake Project
Recovery Area ........................................................................................................... ......II-7
Table II-2 Projected Revenues Available for Non-Housing Programs Downtown Project Area .......... ......II-8
Table II-3 Projected Revenues Available for Non-Housing Programs Ocean Park Redevelopment
Project ........................................................................................................................ ......II-9
Table II-4 Projected ERRPA Program Expenditures ............................................................................. ....II-14
Table II-5 Projected Program Expenditures FY 2009-10 through FY 2013-14 ..................................... ....II-IS
Table III-1 Affordable Housing Cost ..................................................................................................... .... RI-3
Table III-2 2009 Los Angeles County Maximum Incomes by Income Category and Household Size. .... III-3
Table III-3 CRL Inclusionary Housing Production Obligations ............................................................. ... III-4
Table III-4 Housing Production and Affordable Housing Obligation ...........................................:......... ... III-7
Table III-5 Replacement Housing Obligation FY 2004-OS through FY 2008-09 ................................... . III-I1
Table III-6 Replacement Housing Obligation FY 2009-10 through FY 2013-14 ................................... . III-11
Table III-7 Agency Resources Available for Affordable Housing Activities ......................................... . III-13
Table III-8 Affordable Housing to be Assisted with Housing Fund Revenues ................... ~.................. . III-21
Table III-9 Redevelopment Housing Trust Fund Expenditure Percentage Targeting by Income
Category ...................................................................................................................... . III-22
Table III-10 Low and Moderate Income Housing Fund Expenditures ................................................... . III-23
Table III-11 Housing Fund Expenditure Requirement ............................................................................ . III-24
Table III-12 Low and Moderate Income Housing Fund Expenditures ................................................... . III-24
Table III-13 Affordable Housing Assisted with Rousing Fund Revenues .............................................. . III-28
Table III-14 Affordable Housing Produced with Locally Controlled Funds .......................................:.. . III-29
Santa Monica Redevelopment Agency ii Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Executive Summary
Introduction
Since 1994, California Community Redevelopment Law (CRL) requires that all redevelopment
agencies adopt afive-yeaz implementation plan. This year, the Redevelopment Agency of the
City of Santa Monica (Agency) is due to adopt its five-yeaz Implementation Plan for FY 2009-10
through FY 2013-14. Together with the Agency's redevelopment consultant and legal counsel,
staff has prepared this updated plan for Agency consideration on November 18, 2009. At this
meeting, the Agency will conduct a public hearing on the FY 2009-10 through FY 2013-14
Implementation Plan and consider its adoption.
Five-Year Implementation Plan
Pursuant to Section 33409 of the Redevelopment Law, the FY 2009-10 through FY 2013-14
Implementation Plan delineates the Agency's goals and objectives for each of the four
redevelopment Project Areas (Earthquake Recovery, Downtown, Ocean Pazk lA and Ocean Pazk
1B). In addition, the Implementation Plan contains specific programs and related expenditures
estimated to be made during the next five years, as well as a description of how the goals and
objectives and programs will alleviate the impacts of the 1994 Northridge earthquake and
eliminate adverse conditions in the Project Areas, as well as help achieve the City's affordable
housing goals and objectives.
The CRL also requires the implementation plan to include a housing component detailing the
agency's affordable housing goals, programs, activities and expenditures. The housing
component must include the affordable housing production plan, the replacement housing plan
and a description of the CRL-required low and moderate income housing fund (the
Redevelopment Housing Trust Fund or Housing Fund). In addition to addressing the CRL
reporting requirements, the Housing Component of this Implementation Plan describes
expenditures of additional revenues the Agency devotes towards affordable housing production
and preservation, known as supplemental funds for affordable housing (SFAH). These funds
underscore the Agency's commitment to providing affordable housing opportunities as a central
goal of its Redevelopment Program.
The purpose of the Implementation Plan is not to approve any specific program, expenditure or
project at this time, but rather to provide a vision and guide for the Agency's anticipated
activities within the nextfive years.
The Plan sets forth a series of programs for each of the Agency's four redevelopment Project
Areas. These programs and estimated expenditures over the next five years are summarized
below. Staff anticipates that the projects and programs implemented during the next five years
would be funded with available tax increment and debt financing. It is assumed for this
Implementation Plan that debt would be issued in FY 2011-12 and FY 2013-14.
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Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
• Earthquake Recovery Project Arear
Over the next five years, the Agency anticipates $283 million to be available for distribution
among five program categories.
- $56.4 million for Disaster Prevention and Mitigation Program
To implement the Downtown Parking Program, completion of the stabilization of the
Palisades Bluff, improvements necessary for seismic safety, rehabilitation and
adaptive reuse of the Civic Center Auditorium, and improvement or replacement of
vulnerable or deteriorating public infrastructure or facilities.
- $10 million for the Commercial Revitalization
For programs that will promote business expansion economic investment in the
Project Area, preserve the area's existing employment base, implement sustainable
land use principles, as set forth in LUCE, and support transit-oriented development.
- $115.9 million for Community Revitalization
To implement the Civic Center Specific Plan, including Civic Center Auditorium
Districts Project, Palisades Garden Walk and Town Square, Early Childhood
Education Center, Freeway Capping and parking enhancements; Memorial Park
Master Plan and design; and undertaking capital improvement projects that serve or
benefit the project area.
- $57 million for Institutional Revitalization
For joint use opportunities on the campus of Santa Monica High School and promote
development of facilities and programs enhancing arts and culture.
- $43.6 million for Affordable Housing
To further increase, improve or preserve the supply of affordable housing within the
City. These funds will be allocated as SFAH revenues in addition to the $70.5 million
required to be deposited into the CRL-mandated Housing Fund.
• Downtown Project Area
- $4.6 million for Affordable Housing
Over the next five years, the new plan proposes to allocate all available funds (net of
administrative expenses and debt obligations) to affordable housing outside of the
Project Area.
- $4.6 million would be used to increase, improve or preserve affordable housing
as SFAH revenues in addition to the $1.9 million required to be deposited into
the CRL-mandated Housing Fund.
~ Because the Ocean Park lA and 1B Project Areas were adopted prior to 1976 and the Downtown Project Area is
designated exclusively for non-residential use, Earthquake Recovery is the only Project Area cuvently subject to the
housing production requirement.
Santa Monica Redevelopment Agency 2 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Ocean Park Projects lA and 1B
$10.5 million for Affordable Housing
Over the next five yeazs, the new plan proposes to allocate all available funds (net of
administrative expenses and debt obligations) to affordable housing outside of the
Project Area.
- $10.5 million would be used to increase, improve or preserve affordable housing
as SFAH revenues in addition to the $4.15 million required to be deposited into
the CRL-mandated Housing Fund.
Affordable Housing Revenues
In summary, for all the Project Areas, approximately $160.9 million of CRL-mandated
Redevelopment Housing Trust Fund monies, SFAH funds and Line of Credit proceeds would be
allocated over the next five yeazs to fund land acquisition, new construction, and acquisition
and/or rehabilitation projects to provide affordable housing. These funds would further increase,
improve or preserve the supply of affordable housing within the City and other activities
consistent with the City's Housing Element, Consolidated Plan and California Redevelopment
Law. Funds maybe loaned or granted to eligible borrowers for these uses.
Housing Component
The Housing Component of the Implementation Plan summarizes the Agency's projected housing
obligations pursuant to the legal requirements of the CRL and provides an overall framework for
the Agency's Housing Program goals and expenditures. It sets forth the Agency's proposed
program for ensuring that an appropriate number of very low, low, and moderate income dwelling
units are produced in connection with any new construction or substantial rehabilitation within
the Project Areas. In general, the CRL provides that in Project Areas adopted on or after
January 1, 1976, at least 15 percent of all new or substantially rehabilitated units, developed by
public or private entities other than the Agency, be available to very low, low and moderate
income households. At least 6 percent must be available to very low income households.
In sum, the Housing Component demonstrates that the Agency has a projected affordable housing
production obligation over the ten-year compliance period (FY 2004-OS through FY 2013-14) of
255 units affordable to very low, low or moderate income households, of which 103 must be
affordable to very low income households After the first five years of the ten-year compliance
period, the Agency is already exceeding its total projected affordable housing production
obligation.
In addition the obligation to produce affordable units, CRL requires that the Agency use Southern
California Association of Governments (SCAG) 2006-2014 Regional Housing needs Allocation
(RHNA) figures for determining its proportionate spending on housing for very low and low
income groups in the community. In order to meet its targeting obligation, the Agency must tazget
its expenditures over the next five years in the following proportions: at least 35 percent on very
low income units, at least 52 percent on low income units, and no more than 13 percent on
moderate income. The Agency anticipates it will meet its very low, low and moderate income
targeting requirements for the ten-year compliance period ending on December 31, 2014.
Santa Monica Redevelopment Agency 3 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Conclusion
Over the next five year period, the Agency will continue to work towards achieving its goals and
objectives, which are focused on eliminating the impacts of the Northridge Earthquake and other
physical and economic adverse conditions, as well preserving and producing affordable housing.
At the end of the next five-year period, the Agency anticipates that it will be in compliance with
all CRL housing requirements. The Santa Monica Redevelopment Agency will continue its
partnership with the community to improve and revitalize the Project Areas.
Santa Monica Redevelopment Agency 4 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
I. Introduction
The California Community Redevelopment Law (CRL) requires each redevelopment agency
administering a redevelopment plan (or plans) to prepare and adopt afive-year Implementation
Plan. The principal goal of the Implementation Plan is to guide an agency in implementing its
redevelopment programs to alleviate or eliminate blighting influences and the adverse effects of
disasters, such as the Northridge Earthquake. The affordable housing component of the
Implementation Plan provides a mechanism for a redevelopment agency to plan and monitor its
progress in meeting both the affordable housing requirements and obligations under the CRL and
the affordable housing needs of the community. The Implementation Plan is a guide,
incorporating the goals, objectives and programs of the Agency for the next five years while
providing flexibility so the Agency may adjust to changing circumstances and new opportunities.
This document is the Five-Year Implementation Plan for FY 2009-10 through 2013-14
(Implementation Plan) for the project areas (Project Areas) administered by the Santa Monica
Redevelopment Agency (Agency), including: ~
Earthquake Recovery Redevelopment Project Area (ERRPA) (adopted 1994, expires 2027);
• Downtown Redevelopment Project Area (adopted 1976, expires 2019);
• Ocean Park lA Redevelopment Project Area (adopted 1960, expires 2012); and
• Ocean Park 1B Redevelopment Project Area (adopted 1961, expires 2012).
A. Organization
This Implementation Plan outlines the Agency's proposed program of disaster mitigation;
commercial, community and institutional revitalization; and affordable housing activities for the
five-year period. Generally, the Implementation Plan must contain the following information:
• Five-year goals and objectives for both housing and non-housing activities.
• Programs and expenditures for the five-year period for both housing and non-housing
activities.
• An explanation of how the goals, objectives, programs and expenditures will assist in
alleviating adverse conditions, and in meeting affordable housing obligations.
• Other information related to the provision of affordable housing.
The Implementation Plan is presented in three chapters:
Chapter I. Introduction
The introductory chapter provides an overview of the CRL requirements, descriptions of the
Project Areas, and summaries of Agency accomplishments and expenditures over the previous
five-year Implementation Plan period (FY 2004-OS through FY 2008-09).
t Pacific Ocean Park (adopted in 1971) is an inactive project area. No projects were established for the area and the
area has not generated tax increment revenue. Therefore, no further reporting is required in this Implementation Plan.
Santa Monica Redevelopment Agency I-1 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Chapter II. Redevelopment Program Goals, Projects and Activities
This chapter includes the five-year goals and objectives for each of the Project Areas, as well as
redevelopment activities and related revenues and expenditures. It also describes how the
five-year Redevelopment Program will continue to alleviate the conditions of blight and. the
impacts of the Northridge Earthquake.
Chapter III. Housing Component
The Housing Component includes the Affordable Housing Production Plan, which summarizes
historical and projected housing production, the affordable housing production obligation, and the
Agency's progress in meeting the obligation. Additionally, the Housing Component includes the
status of the Redevelopment Housing Tmst Fund (Housing Fund) and estimated annual deposits
into the fund over the next five years. The Housing Component also includes the Housing
Program, which estimates Housing Fund expenditures and affordable housing units to be assisted
by the Housing Fund in each of the five years of the Implementation Plan period. It also charts
the Agency's progress in meeting the Housing Fund expenditure targeting requirements and other
affordable housing obligations.
B. Implementation Plan as Guide
The Agency's resources and future implementation of the programs will be affected by the scale
and timing of its issuance of debt instmments or use of other financial mechanisms to fund capital
improvements the Agency expects to undertake during the next five years. The Agency expects
that particular constraints and opportunities not fully predictable at this time will arise in the
course of undertaking the projects and activities described in this Implementation Plan. Thus, the
Agency understands that the specific projects and activities actually implemented over the next
five years may vary in their precise timing, location, cost, expenditure, scope and content from
those set forth in this document. Therefore, the Agency intends to use and interpret this
Implementation Plan as a flexible guide.
State "Take Aways"
A major constraint that the Agency has faced in the past, and that it currently faces today, is the
State "taking" of redevelopment funds. Faced with state budget deficits, the State Legislature
passed, and the Govemor signed, legislation requiring redevelopment agencies to contribute to
the Educational Revenue Augmentation Fund (ERAF) by transferring local tax increment to fund
State obligations in FY 2003-04, FY 2004-05, and FY 2005-06. The Agency was required to
contribute $7.97 million over those three years.
Faced with a state budget gap in FY 2008-09, the State Legislature passed, and the Govemor
signed, legislation requiring redevelopment agencies to contribute to ERAF once again and
transfer $350 million to fund State obligations. The Agency's portion of this transfer was
determined to be $4.3 million. However, the Sacramento Superior Court found this provision to
be unconstitutional and signed a judgment in May 2009, forbidding county auditor-controllers
from taking any actions to carry out or enforce any of the ERAF payment requirements.
With a continuing major budget deficit in FY 2009-10 (and likely beyond), in late July 2009 the
State Legislature approved and the Govemor signed into law AB 26 4x. This law requires that
Santa Monica Redevelopment Agency I-2 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
redevelopment agencies contribute a statewide total of $1.7 billion in FY 2009-10 and an
additional $350 million in FY 2010-11 to a new ERAF-related fund~alled "Supplemental
ERAF" or "SERAF"to further relieve the State of its educational funding obligations. The
impact of this latest budget legislation, if held constitutional, would be to require the Agency to
contribute $20.9 million to the SERAF in FY 2009-10 and an additional $5.1 million in
FY 2010-11. On October 2Q, 2009, the California Redevelopment Association (CRA) filed a
lawsuit challenging the constitutionality of these additional State "take aways" from
redevelopment agencies.
For Implementation.Planplarming purposes, the analysis in this report assumes that the potential
SERAF payments will not have to be made in FY 2009-10 and FY 2010-11. The Agency cannot
predict whether the State Legislature will enact legislation requiring deposits into ERAF in future
years or whether such deposits would be found to be unconstitutional. Therefore, the revenue
projections for the following three fiscal years do not assume a continuation of State ERAF
"take aways" either.
C. Description of Project Areas
The Project Areas consist of approximately 1,894 acres located within Santa Monica, which is
located in Los Angeles County. The Agency's Project Areas were adopted over a 34-year period,
and have been amended over time. Figure I-1 shows the location of the Project Areas within the
City of Santa Monica and Table I-1 summarizes the time and financial limits of each of the
Project Areas.
Earthquake Recovery Redevelopment Project Area
The Earthquake Recovery Redevelopment Project Area (ERRPA), established in June 1994, is
bounded on the east by Cloverfield Boulevard and 26th Street, on the west by the Pacific Coast
Highway-Beach Promenade, on the south roughly by Pico Boulevard, and on the north by
Montana Avenue. The City formed the 1,851-acre Project Area to alleviate the effects of the
January 1994 Northridge Earthquake. Most damaged structures in the city-approximately
90 percent of all red-tagged and almost 80 percent of all yellow-tagged buildings-were included
in the Project Area. The earthquake's damage significantly affected the city's affordable housing
stock, as well as commercial and public properties. As a result of the Agency's State-mandated
contributions to ERAF in 2004 through 2006, the Council was able to extend by three years the
Project Area's time limits on plan activities (to 2027) and the tax increment collection (to 2042).
Santa Monica Redevelopment Agency I-3 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
City of Santa ®nica
Red
(Gene
3
70-6~9
Figure I-1
r
Jlonica
£~ ~n
Tahle I-1
Summary of Project Area Time Limits
Santa Monica Redevelopment Agency
AB1290 TIME LIMIT CHANCES (1/94)"
TAR
INCREMENT EMINENT INCURRING NEW' PLAN RECEIVINGTAX INCREMENT
PROJECT AREA ADOPTED ON AMENDMENTS LIMIT DOMAIN DEHT° ACTIVITIES' & YAYINC DEBT"
OCEAN PARK (lA) G/30/60, Ord. 497 11/14/67, Ord. 757 $66,612,512 Expired 1.1.04 1.1.12 1.L22
HRAF Timc F.xtcnsion 12.9.66
1/13/04, Ord. 2110 (SB 1045 HRAP)
7/1 l/06 Ord. 2196 SH 1096 HRAF
OCEAN PARK 1(B) 1/24/61, Ord. 516 1/26/65, Ord. fi67 $24,637,500 Expired 1.1.04 1.1.12 1.1.22
7/13/71, Ord. 873 12.9.66
9/12/72, Ord. 896
HRAF -time Gxtensio t
1/13/04, Ord. 2111 (SB L045 HRAP)
7/I l/06, Ord. 2195 (SH 1096 ERAF)
DOWNTOWN 1/13/76, Ord. 1021 HRAF Time Extension $125,300,000 Hxpired None 1.13.19 1.13.29
1/13/04, Ord. 2109 (SB 1045 ERAF) 12.9.56
7/11/06, Ord. 2194 (SB 1096 ERAE~
Hliminated by
Ordu~ence 2107 1/13/04
EARTHQUAKE 6/21/94, Ord. 1747 ERAF Time Extension S9S,ODQ000` wl 6.21.14 6.21.27 6.21.42
RECOVERY 1/13/04, Ord. 2108 SB 1045 ERAF
( )
(bonded
authorized
indobtadnass)
7/11/06, Ord. 2197 (SB 1096 ERAF)
PACIFIC OCEAN 7/13/71, Ord. 874 N/A N/A N/A N/A N/A
PARx
(e1'facfively defuneq no
TI generated; no
projects ever
established)
Notes
a. The mgnirrd AB1296 ohanges wmeudoptvd by aMivmroc on 11/22/94.
b. Later of 20 yours from the plan adnptimr date or 1/1/2004; Unless repealed through summary mdiwnce.
c. Later of40 years ffom the plan adoption dole or 1/1/2009; 30 years Porplmrv adopted after 1/1/94; nddidonal3-yr. time extension due to ERAF.
d Later of 50 yoars ffom plan adoption or 1/1/2010; 45 years for pWvs adopted after 1/1/94; addiricnal 3-yr. thno extension doe to ERAF.
e. AB1290 olimivated the tax ineramon[ ceilivg Lnr plans adopted after 1/1/94; however Ole Barthgwke Recovery Projeet Area includes a required limit on bonded indebtedness (excluding the 20% set-aside requirement).
Sourco: Santa Monica Redevelopment Agenoy
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2. Downtown Redevelopment Project Area
The Downtown Redevelopment Project Area (Downtown Project Area) was established in
January 1976 and encompasses about 9.9 acres located in the downtown core of Santa Monica. It
is bounded by Broadway on the north, Fourth Street on the east, Colorado Avenue on the south,
and Second Street on the west. The Agency eliminated its time limit on incurring debt in 2004.
As a result of the Agency's state-mandated contributions to ERAF in 2004 through 2006, the
Council was able to extend by three yeazs the Project Area's time limits on plan activities (to
2019) and tax increment collection (to 2029).
3. Ocean Park Redevelopment Project Area 1A
The Ocean Park Redevelopment Project Area was the first project undertaken by the
Santa Monica Redevelopment Agency. It was designated for study as a potential redevelopment
project area in April 1958, when an application was submitted to the federal government for
survey and planning funds. With these funds, the Agency commenced preparation of formal plans
for the 33-acre area in the southwest comer of the city. In October 1959, as a result of a reduction
in the availability of federal funds for the project, the City divided the proposed Ocean Park
Project Area into two separate project areas so that at least one project could proceed with the
funds available to the. Agency at the time.
Ocean Park Redevelopment Project lA (Ocean Park lA), encompassing the northern 25 acres of
the originally proposed 33-acre project, is bounded by Ocean Park Boulevard on the north,
Neilson Way on the east, Ocean Park Project 1B on the south, and the State beach parking lots
and beach on the west. The City Council approved the Redevelopment Plan for this Project Area
in June 1960. Since then, Council has amended the plan to modify its permitted land uses,
establish time and fiscal limits, and comply with new regulation. As a result of the Agency's
state-mandated contributions to ERAF in 2004 through 2006, the Council was able to extend by
three years the Project Area's time limits on plan activities (to 2012) and tax increment collection
(to 2022).
4. Ocean Park Redevelopment Project Area 1 B
Ocean Park Redevelopment Project 1B (Ocean Park 1B), encompassing the southern $ acres of
the originally proposed Project Area, is bounded by Ocean Park lA on the north, Neilson Way on
the east, the City limit on the south, and the State beach parking lots and beach on the west. The
City Councfl approved the Redevelopment Plan for the Project in January 1961. Since then, the
Council has amended the plan to modify its permitted land uses, establish fiscal limits and
comply with new regulation. As a result of the Agency's contributions to the ERAF in 2004
through 2006, the Council was able to extend by three years the Project Area's time limit on plan
activities (to 2012) and tax increment (to 2022).
D. FY 2004-05-FY 2008-09 Agency Accomplishments
The Agency has undertaken many projects and activities in the Project Areas over the previous
five-year Implementation Plan period. Agency efforts have been focused on the alleviation of the
impacts of the Northridge Earthquake and of blighting conditions through the following activities:
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• Disaster mitigation
Seismically retrofit or demolish and rebuild public pazking structures, stabilize the bluffs and
fund relevant studies to mitigate earthquake effects.
• Commercial revitalization
Promote private sector investment and business expansion within ERRPA, to preserve the
Area's existing employment base and restore localjobs.
Community revitalization
Enhance public parks, recreational facilities, parking and circulation in ERRPA and
implement the Civic Center Specific Plan.
• Institutional revitalization
Assist Santa Monica. Community College District with the costs of repair and reconstruction
of earthquake-damaged facilities.
Affordable housing activities
Increase, improve and preserve affordable housing opportunities and improve the City's
housing stock.
The following subsections include a list of projects and activities accomplished over the last
five years (FY 2004-OS through FY 2008-09) by Project Area.
1. Earthquake Recovery Redevelopment Project Area Accomplishments
The following activities have been the primary focus of the Agency during the last
Implementation Plan period in ERRPA.
a. Disaster Mitigation Program
Downtown Parking Program
On February 28, 2006, Council certified the Downtown Parking Program Environmental Impact
Report (EIR) and approved a Statement of Overriding Considerations for seismic retrofitting of
two nine-story pazking structures; tearing down and rebuilding three five-story parking structures;
and adding up to two new parking structures in the Downtown area, with atotal net increase of
1,712 parking spaces and approximately 59,000 squaze feet of ground-floor commercial space.
Staff was directed to proceed with the strategic plan to retrofit, rebuild and add parking resources
in the downtown area over aten-year period. Efforts include seismic retrofit work, acquisition of
property to serve as a replacement perimeter parking resource, and design development for the
structures slated to be demolished and rebuilt. The following summarizes the program activities
for each of the parking structures.
Parkin¢ Structure 2
Structure 2 is located at 1235 Second Street and was built in 1969 with 633 parking spaces. On
June 26, 2007, Council authorized the award of the seismic retrofit design work for Structure 2
and the work commenced in FY 2007-08. The construction work to strengthen the existing shear
walls and foundations is anticipated to be under construction in winter 2010 and completed in
FY 2010-2011.
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Parkine Structure 4
Structure 4 is located at 1321 2nd Street and was built in 1967 with 660 pazking spaces. Council
awarded a contract for design of seismic retrofit to Structure 4 in May 10, 2005. The seismic
retrofit work and other improvements included design reconfigurations to relocate the storage
area to Parking Structure 2, enlarge the trash enclosure area, accommodate additional service
vehicles, and remodel the resfrooms to provide additional options for the public. These
improvements were completed in FY 2008-09.
Parkin¢ Structure 5
Structure 5 was constructed in 1969-70 and expanded in 1988 with a total capacity of 657 parking
spaces. On February 8, 2005, CouncIl awarded a construction contract for seismic retrofit of
Structure 5. In addition to strengthening the existing sheer walls and foundations, redevelopment
funds assisted with ADA upgrades. The improvements to Structure 5 were completed in 2005.
Pazkin¢ Structures 1 and 6
On June 30, 2009, Council authorized adesign-build contract for preconstruction services for the
demolition and rebuilding of Parking Structures 1 and 6, The Downtown Parking hnprovement
Program recommended that Parking Structures 1 and 6 be demolished and rebuilt in the same
locations to add spaces, with the EIR analysis addressing an envelope of three levels below
ground and up to nine levels above ground. The rebuilding of each structure will result in a net
increase of approximately 250 spaces per structure. The structures will include ground floor
retail, rooftop solar panels, bicycle storage facilities, and public restrooms. The new structures
will also create safe, efficient facIlities for vehicles and pedestrians. The next step in the design-
buildprocess is to negotiate the contract terms for a Guaranteed Maximum Price (GMP) for
design; anticipated to occur in winter 2010, followed by a GMP for construction in FY 2010-11.
Land Acquisitions
The City has been pursuing the acquisition of property within the area bounded by 4d' Street,
5`s Court, Wilshire Boulevazd and Olympic Boulevard for future public projects that may include
light rail transit, public parking, affordable housing or other public supportive commercial uses.
Acquisitions of 430 Arizona, 1324 Sd` Street, 1320 5'h Street, 1321 5'" Street, 1334 5'h Street,
1338-42 5's Street and 1632-36 5'h Street were completed by FY 2008-09.
Palisades Bluff Stabilization
The Palisades Bluffs rise 30 to 150 feet above a 1.6-mile stretch of the Pacific Coast Highway
from the McClure Tunnel to the northerly city limits. The slopes of the bluffs are steep and near
vertical in certain areas, with deeply eroded gullies. After the January 17, 1994 Northridge
earthquake, various sections of the bluffs were impacted by landslides, flows of debris and mud,
and fractures. The damage was further exacerbated by sloughing from the disaster level storms of
1995 and 1998. Efforts to retrofit and stabilize the Palisades Bluffs commenced in 2004 with a
geotechnical study prepared by URS Corporation to evaluate the soils condition and provide
recommendations to mitigate existing damage and potential future deterioration. On
April 26, 2005, Council approved a professional services agreement for design of the project,
which involves the installation of horizontal drains to remove accumulation of groundwater
behind the bluffs as a means to minimize landslides and slope erosion.
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On Febmary 24, 2006, Council approved a contract to perform the environmental analysis and on
August 14, 2007, Council approved the Mitigated Negative Declaration and Mitigation
Monitoring and Reporting Program for the project, satisfying CEQA. On October 9, 2008, the
California Department of Transportation (Caltrans) issued a Categorical Exclusion determination
for the project, satisfying NEPA. The project obtained Federal funding authorization (E-76) and
approval to advertise for construction from Caltrans. In June 2009, City staff issued a notice
inviting bids. Council awarded constrnction contracts for the project on 9/8/09. Construction is
anticipated to begin in October 2009.
Phase II of the project will include stabilization of the bluff along the length of the California
Incline. The extent of the project wIll be determined during the design process. The stabilization
project consists of constructing a soil nail wall (small diameter rods with concrete grout).
Construction is scheduled to begin the first quarter of 2011.
b. Commercial Revitalization
Downtown Parking Program
Facade Improvements to Parkin¢ Structures 1 through 6
On April 10, 2007, the Council approved design concepts to paint Downtown Parking Structures
1 through 6 and upgrade the facades of Parking Structures 2, 4 and 5. Council subsequently
authorized a contract amendment to include artwork for Pazking Structures 2, 4 and 5. In addition,
Council authorized additional design services to include modification to the existing `real-time'
parking availability signs to make them compatible with the proposed parking structure painting
and facade program, upgrade of exterior lighting, and enhancement of existing landscaped azeas.
The Architectural Review Board approved the design program on January 10, 2007. Painting of
all six pazking structures was completed in FY 2008-09. Installation of artwork and signage for
Structures 2, 4 and 5 is anticipated to be fmished in FY 2009-10.
Facade Improvements to Pazking Structures 7 and 8
On June 26; 2007, drawing on the opportunity to coordinate work efforts and improvements with
the other Downtown Parking structures and to complement the extensive remodeling of
Santa Monica Place, Council authorized prepazation of design concepts for facade improvements
to Structures 7 and 8. On July 8, 2008, the Agency approved the proposed schematic designs and
authorized staff to implement the proposed facade improvements including construction of
exterior cladding, pedestrian oriented retail spaces, solar photovoltaic systems, attendant parking
controls and bicycle parking facilities. On July 14, 2009, the Agency consented to phasing the
improvements in two parts based on funding availability. Staff is working with the Macerich
Company to oversee construction of the improvements on behalf of the City. The first phase of
the project is anticipated to be complete by Summer 2010.
2~d and 4~h Street Improvement Project
On August 14, 2007, the Agency authorized funding for improvements to 2"a and 4`h Streets
including installation of new trees, removal of some existing frees, pedestrian lighting to
illuminate the sidewalks, enlargement of tree-wells and installation of decorative uplighting to
enhance the six mid-block crosswalks on 2"d and 4"' Streets. These improvements were identified
as a third phase in the Downtown Urban Design Plan, adopted in 1997. The purpose of this
project is to further enhance the pedestrian environment within the downtown area, encourage
Santa Momca Redevelopment Agency _ ..p. MI-9 ~aw_. Seifel Consulting lnc.
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pedestrian circulation beyond the 3`~ Street Promenade, and improve the pedestrian experience for
the patrons of the many transit lines that run through downtown. The project is substantially
complete with remaining work to be done by early 2010.
20~h Street and Cloverfield Streetscape Improvement Project
On December 11, 2007, Council approved the concept design for 20`s Street and Cloverfield
Boulevard, between the Santa Monica Freeway (I-10) and Pico Boulevard, to address safety,
traffic and aesthetic improvements on these major thoroughfares. The concept design includes
planting of new trees and parkway landscaping, installation of pedestrian lighting, installation of
colored concrete sidewalk sections, curb extensions on Cloverfield Boulevard, traffic signal
modifications, and streetlight circuit upgrades. A fmal concept design will be presented to
Council in Fall-Winter 2010, with construction completion anticipated in Summer 2011.
c. Community Revitalization
415 PCH -Annenberg Beach House
Through an Operating Agreement with the State of California; the City is responsible for the
management and oversight of this five-acre beachfront property and its historical facilities. (The
property has significance as the 1920s estate built by William Randolph Hearst for actress Marion
Davies and designed by noted Califomia architect Julia Morgan.) Over the past four decades
other buildings were added to the estate, and at one time it was operated as a privately owned
hotel before it was sold to the State of California. For a short time in the early 1990s, prior to the
Northridge Earthquake, the City operated 415 PCH as a seasonal public beach facility. The main
building and all ancillary buildings were red-tagged and unoccupied due to the severe damage
caused by the 1994 earthquake. On January 23, 2007, the Council authorized the use of
redevelopment funds to fmance the rehabilitation and adaptive re-use of 415 PCH as a
community beach house. Although the property is outside the Project Area, Council made a
finding that the project benefits the Project Area, as it serves as a public recreational facility and
helps to achieve Redevelopment Plan and Implementation Plan goals. This project was completed
in FY 2008-09. The community celebrated its grand opening on Apri125, 2009.
Main Library Project
The Santa Monica Main Library is located within the ERRPA. On January 28, 2003, Council
approved the design-build construction contract for the new main library and the supplemental
public parking project. Redevelopment funds helped finance the supplemental public parking
project, which involved construction of two additional levels of subterranean public parking under
the new facility to alleviate parking demands for parking in the downtown. This project was
completed in FY 2005-06.
Civic Center Specific Plan
On May 13, 2008, the Civic Center Specific Plan was amended to include the community and
design processes for the Village at the Civic Center project. The Specific Plan amendments
provide development standards for the Village Special Use District including market rate units in
the development; a Living Street and plaza; neighborhood-serving uses; reduction of setbacks,
step backs and building heights to allow the construction of the required number of units within
an acceptable building profile.
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d. Institutional Revitalization Program
Santa Monica -Liberal Arts Building
In FY 2005-06y the Agency committed redevelopment funds to finance construction of a
replacement building for the Liberal Arts program at Santa Monica College (SMC) as an advance
ofpass-through funds owed to SMC. The new facility replaces the original Liberal Arts Building,
which was damaged beyond repair during the 1994 Northridge Earthquake. Construction of the
replacement building was completed in June 2007, providing students and faculty with a
three-level, 59,887 square foot educational facility with two subterranean levels of parking,
including 35 spaces for faculty.
Affordable Housing
The preservation and production of affordable housing has been a top priority for Agency funds.
At its Apri122, 2008 meeting, the Agency authorized an agreement with Bank of America to
obtain a $50 million line of credit for the purpose of accelerating affordable housing
development, with an option to increase this line of credit by an additional $25 million. This
leveraging of funds set aside for housing enhances the City's ability to more immediately address
the need for affordable housing and to avoid inflationary increases in land and construction costs.
Historically, the Agency has provided more than 25 percent of its gross redevelopment tax
increment and has devoted over 40 percent of net available redevelopment revenues to affordable
housing activities.
Over the last five years, the Agency deposited 20 percent of the Project Area's tax increment
revenue in the Redevelopment Housing Tmst Fund to provide fmancing for programs that
provide housing to lower income households and has allocated additional resources beyond the
required 20 percent housing set-aside whenever possible. Each year, after balancing its
obligations, the Agency has determined the amount ofnon-housing funds to be committed to
preserving and producing affordable housing units. These funds are referred to as supplemental
funds for affordable housing (SFAH).
Refer to Chapter III for information on the Agency's affordable housing accomplishments during
FY 2004-OS through FY 2008-09.
2. Downtown Redevelopment Project Area Accomplishments
As ERRPA and the Downtown Project Area are geographically connected and have
complementary goals, the Agency allocated funds from ERRPA to projects in the Downtown
Project Area, including the seismic retrofit of two public parking structures over the last
five years as described in subsection a below.
a. Commercial Revitalization
Santa Monica Place
In the mid-1970s, the Agency entered into a Disposition and Development Agreement for the
creation of Santa Monica Place, an indoor mall. The mall opened in 1980, helping to rejuvenate
Santa Monica's struggling downtown. In 1990, the mall underwent remodeling and was acquired
by the Macerich Company in 1999. Macerich announced its plans to remodel and adaptively
re-use the mall in June 2006 and conducted extensive public outreach efforts for input on the
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Mall's design. Objectives of the mall's renovation include updating and redesigning the enclosed
mall into an outdoor shopping venue, establishing an open connection to the Third Street
Promenade and to adjacent streets in order to better integrate the shopping center into Downtown,
and providing an amactive shopping destination that will better appeal both to retailers and to the
Santa Monica community.
On September 11, 2007, the Agency and Council approved the proposed remodeling of
Santa Monica Place, adopted fmdings that the project is in conformance with the Downtown
Redevelopment Plan, and adopted the resolution adopting the Mitigated Negative Declaration
(MND) for the project. As part of the conditions of approval, the Agency negotiated that
Macerich provide for certain improvements to the two public pazking structures adjacent to the
mall. In a separate project funded by the Agency, the two parking structures will undergo .
extensive facade improvements including the installation of public art and pedestrian oriented
uses; Macerich will be contributing to half the costs related to the conversion of these parking
structures with parking control systems and other improvements. Macerich closed Santa Monica
Place on January 31, 2008 and commenced construction in June 2008. The two anchor
department stores at Santa Monica Place will also undergo extensive remodeling, with significant
improvements to address transparency, scale, materials and the pedestrian experience. The grand
opening is anticipated for Summer 2010.
PS 7 & 8 Improvements Project
The two public parking structures adjacent to Santa Monica Place are owned by the
Redevelopment Agency. Structures 7 and 8 were built in 1979, providing 1,968 spaces for the
Downtown. Since receiving seismic upgrades in 2002 and 2003, no additional capital
improvements have been made to these two parking facilities. Given the extensive remodeling at
Santa Monica Place and the opportunity to coordinate proposed Parking Structure programs with
both the remodeling project and the broader Downtown facade improvement program, on
March 11, 2008, the Agency directed staff to move forward with capital improvements including
exterior cladding ground-level retail, bicycle parking, solar photovoltaic systems, public art and
attendant parking systems in order to align the operations and pricing of Structures 7 and 8 with
downtown pazking Structures 1 through 6. On July 14, 2009, the Agency authorized staff to
proceed with the project with available funds, moving forward with Phase I improvements.
Construction of the proposed improvements is expected to commence in January 2010 and to be
complete by Summer 2010, coinciding with the grand opening of the new Santa Monica Place.
b. Affordable Housing
The Agency has provided funding generated by the Downtown Project Area for the acquisition,
rehabilitation and new construction of affordable housing within other Project Areas and
elsewhere in the community as opportunities have arisen. Over the last five years, the Agency
deposited 20 percent of the Downtown Project Area's tax increment revenue in the
Redevelopment Housing Trust Fund to provide financing for programs that provide housing to
lower income households. In addition, during the last Implementation Plan period, the Agency
dedicated all of the Downtown Project Area's tax increment revenues net of the housing set aside,
debt and administrative costs to increasing, improving and preserving the supply of affordable
housing in the city. As discussed in Section l.e. above, these funds are referred to as
supplemental funds for affordable housing (SFAH). Refer to Chapter III for more information on
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the Agency's affordable housing accomplishments during the period from FY 2004-OS through
FY 2008-09.
3. Ocean Park 1A and 1 B Redevelopment Project Areas Accomplishments
The Agency has provided funding generated by the Ocean Park Project Areas for the acquisition,
rehabilitation and new construction of affordable housing within other Project Areas and
elsewhere in the community as opportunities have arisen. Over the last five years, the Agency
deposited 20 percent of these Project Areas' tax increment revenue in the Redevelopment
Housing Trust Fund to provide financing for programs that provide housing to lower income
households. In addition, during the last Implementation Plan period, the Agency dedicated all of
the Downtown Project Area's tax increment revenues net of the housing set aside, debt and
administrative costs to increasing, improving and preserving the supply of affordable housing in
the city. As discussed in Section l.e. above, these funds are referred to as supplemental funds for
affordable housing (SFAH). Refer to Chapter III for more information on the Agency's affordable
housing accomplishments during the period from FY 2004-OS through FY 2008-09.
E. Agency Expenditures during FY 2004-05-FY 2008-09
Table I-2 summarizes the Agency's expenditures during the prior Implementation Plan period in
each of the Project Areas. Over the last five years, the Agency expended and committed
$176.9 million for the Redevelopment Program. Of this amount, $95.4 million (or 54%) was
expended or committed to the Agency's Affordable Housing Program.
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Table I.2
Agency Implementation Plan Expenditures and Additional Capital Improvement Project (CIP) Commitments
FY 2004105 through FY 2008109
Santa Monica Redevelopment Agency
ERRPA Downtown Ocean Park IA / 1B
Affordable Housing
Actual Expenditures -20% Set Aside 56,967,893 _ 2,424,502 3,323,802
Additional CIP Commitments - 20% Set Aside 15,866,959 258,666 895,839
Actual Expenditures-80%(SFAH) 4,512,197 2,713,804 5,908,865
Additional ClP Commitments-80%(SFAH) 1,318,596 76,447 ],142,111
Subtotal 78,665,645 5,473,419 11,270,617
Disaster Prevention and Mitigatlon ~,
Actual Expenditures 21,399,701 . , , , , ,,,, , ,
imercial Revitalization
Actual Expenditures 40,971,235
Additional CIP Commitment 750.570
imunity Revitalization
Actual Expenditures 4,533,215
Additional CIP Commitment 1,359,764
Institutional Revitalization
Actual Expendimres 10,206,823
Additional CIP Commmitment -
CIP Commitment
Source: Santa Monica Redevelopment Agency
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II. Redevelopment Program Goais, Projects and
Activities
This chapter describes the Agency's five-year Redevelopment Program. In addition to providing
a description of the goals and objectives for the next five years, including projects, activities,
deficiencies to be addressed, and estimated expenditures, this chapter explains how the
Redevelopment Program will alleviate the impacts of the Northridge Earthquake and other
adverse conditions. As they aze implemented, these projects and activities may be modified to
better serve the purposes of redevelopment. The cost estimates included aze preliminary and
subject to refinement as redevelopment planning and implementation proceed. Some of these
projects and activities may not be completed within the next five yeazs, thus related costs may not
be incurred during this period, as discussed in Chapter I.
Chapter III presents detailed information on the Agency's Housing Program, including projects,
activities and estimated costs related to affordable housing.
A. Goals and Objectives
The CRL requires the Agency to establish goals and objectives for the Project Areas for the
five-year Implementation Plan period. The Implementation Plan goals and objectives are intended
to eliminate the impacts of the Northridge Earthquake and other physical and economic adverse
conditions as well as to produce affordable housing. They aze based on the goals and objectives
established when the Redevelopment Plans were adopted and draw upon the Santa Monica
General Plan, with a particulaz focus on its Housing Element and Land Use and Circulation
Element (LUCE).' They also reflect the Civic Center and Bayside District Specific Plan. Together
with zoning regulations, these goals and objectives will continue to guide the direction of all
future development and activities within the Project Areas over the next five years.
The following sections describe the goals and objectives of each Project Area for the five-year
Implementation Plan period, FY 2009-10 through FY 2013-14. These goals and objectives are
consistent with the original Project Area goals and have been updated to reflect new
developments and opportunities. The order of the goals and objectives is not intended to indicate
the category's relative priority.
1. Earthquake Recovery Redevelopment Project Area (ERRPA)
The following categories of goals have guided the implementation of redevelopment activities in
ERRPA since its adoption in 1994:
• Disaster Prevention and Mitigation
Commercial Revitalization
• Community Revitalization
t The City is in the process of completing a comprehensive update of its LUCE. Adoption of the LUCE update is
anticipated to occur in 2010. The Implementation Plan is consistent with the existing LUCE, and as it is proposed to
be updated.
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• Institutional Revitalization
• Affordable Housing
Redevelopment activities in ERRPA have been largely focused on repairing immediate physical
damage caused by the Northridge Earthquake to residential and commercial structures, public
improvements and infrastructure in ERRPA. Since the Plan's inception, many of the structures
needing immediate attention (due to severe earthquake damage) were either repaired or
demolished.
The following goals and objectives to be implemented over the next five years will allow the
Agency to continue meeting its existing goals and objectives while improving the environment
for Project Area residents and businesses.
Goal 1-Disaster Prevention and Mitigation
• Repair, replace, upgrade or reconstruct buildings, public facilities and utilities with remaining
earthquake damage. Such improvements will alleviate the effects of the Northridge
Earthquake.
• Implement the Downtown Parking Program, a comprehensive program to seismically retrofit,
demolish and reconstruct, and acquire and build strategically placed parking structures
throughout the downtown.
Goal 2-Commercial Revitalization
• Improve Santa Monica's commercial corridors and boulevards with a focus on streetscape
improvements, parking, and transportation enhancements.
• Facilitate redevelopment activities that help to retain existing businesses while encouraging
and assisting with the cooperation and participation of owners, businesses and public
agencies in the redevelopment of the Project Area.
• Promote private sector investment and business expansion within the Project Area, with
emphasis on promoting mixed-used developments and neighborhood-serving retail services
and amenities which facilitate residents' ability to walk or bicycle to work.
• Preserve,the area's existing employment base and promote the restoration of local jobs.
• Provide support for transit-oriented development and facilitate transit connections of the area
to the City of Los Angeles and to other districts and redevelopment nodes within Santa
Monica, such as the Mixed Use Creative district, the Bergamot Transit Village and the
Memorial Park Activity Center, as envisioned by the LUCE.
• Promote facilities and programs enhancing arts and cultural facilities in the Civic Auditorium
District and surrounding areas.
• Provide support for infrastructure improvements to facilitate Phase 2 of the Expo Light Rail,
connecting downtown Santa Monica with the City of Los Angeles, in conformance with the
LUCE.
Goal 3-Community Revitalization
• Acquire, upgrade and/or rehabilitate property for essential public facilities and park
improvements in order to promote active gathering spaces and enhanced green and open
space.
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• Provide for adequate parking and street circulation in the Civic Center area, and encourage
the upgrading of surrounding public areas.
• Improve, repair, rebuild or provide for public improvements, facilities and utilities, including
off-street shared flex-car parking when deficiencies in those improvements adversely affect
the ERRPA.
• Facilitate the integration and expansion of mobility options within the Project Area and to
other areas by potentially covering a part of the freeway, building more efficient access to
bridges and reinvigorating the area's network of boulevards.
• Promote and assist in the development and/or expansion of community services such as
on-site childcare centers, and cultural programs.
• Promote more mobility options by enhancing access to jobs, services and amenities for
pedestrians and cyclists, as well as for current and potential users of public transportation and
transit.
• Facilitate safe, efficient and, where appropriate, calm vehicular circulation throughout the
area through proper lighting and traffic signal synchronization, and through improvements to
paving curbs/curb extensions and driveways.
• Achieve an environment reflecting a high level of concern for architectural, landscape, urban
design and land use principles, consistent with the LUCE and appropriate for the attainment
of the objectives of the Redevelopment Plan, with an emphasis on sustainability.
• Assist in the construction of a branch of the Santa Monica Public Library in the Pico
neighborhood.
Goal 4-Institutional Revitalization
• Pursue joint use opportunities on the campus of the Santa Monica High School in alignment
with the goals of the LUCE and the Civic Center Specific Plan.
Goal 5-Affordable Housing
• Continue to facilitate the acquisition, rehabilitation and construcfiori of residential buildings
to increase, improve, and preserve the supply of affordable housing.
• Continue to deposit 20 percent of tax increment into the Redevelopment Housing Trust Fund.
• Continue to use funds above the 20 percent housing set-aside requirement and net of
administrative expenses and debt obligations for affordable housing through the Agency's
supplemental funds for affordable housing (SFAH).
• Promote workforce housing near employment nodes and/or around transit.
• Preserve and enhance neighborhoods.
Chapter III describes the affordable housing goals in more detail and demonstrates how they will
be achieved.
2. Downtown Redevelopment Project Area
When the Downtown Redevelopment Plan was adopted in 1976, the following goals were
included in the Agency Report to City Council, and they have guided the implementation of
redevelopment activities in the Downtown Project Area ever since:
• Revitalize-intensify the Central Business District.
..~-w~ ee~ _. ~. _.__ .._w__. M, _ ~ _. _.~ ..~...we.... ...... ~..,. ..._,_.e,_-.
Santa Monica Redevelopment Agency II-3 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
• Develop a compact, coordinated and integrated business center.
• Redevelop underutilized properties.
• Increase economic vitality.
• Induce mass transit.
• Induce greater design quality.
• Increase employment.
Redevelopment activities in the Downtown Project Area have largely been focused on the
remodeling of the Santa Monica Place shopping center and on the facade and associated parking
improvements to the two adjoining parking structures, which are owned by the Agency. The
following goal to be implemented over the next five years is consistent with the original
Redevelopment Plan.
Goal 1-Commercial Revitalization
• Continue to increase the economic vitality of the Downtown Project Area by maintaining,
repairing, improving and enhancing improvements at Parking Structures 7 and 8.
• Promoting multi modal modes in the project area, including bike parking facilities.
Goal 2-Affordable Housing
• Continue to provide funds for affordable housing outside the Project Area.
° Continue to deposit 20 percent of tax increment into the Redevelopment Housing Trust Fund.
° Continue to use funds above the 20 percent housing set-aside requirement and net of
administrative expenses and debt obligations for affordable housing through the Agency's
supplemental funds for affordable housing (SFAIT).
3. Ocean Park Redevelopment Project Areas 1A and 1B
At the time the Ocean Park lA and 1B Redevelopment Plans were adopted, the goals that
formulated the overall policy direction of the Project Areas were intended to accomplish the
following:
• Eliminate blight.
• Eliminate causes of blight.
• Encourage owner and business participation in redevelopment activities.
• Encourage rehabilitation, redevelopment and development.
• Encomage economic revitalization.
• Provide owner/occupant relocation.
• Rebuild public facilities.
~ The Downtown Project Area is subject to the requirements of Section 33413 of the CRL (Inclusionary Housing
Production obligation, which is described fully in the Housing Component section of the Plan). However, since no
residential units are located within the Project Area, no historical or existing affordable housing producton obligation
applies. If new housing were to be built in the future, the production obligaton would apply. The Agency must
provide at least 20 percent of the gross tax increment from the Downtown Project Atea to the Housing Fund,
pursuant to Section 33334.6 of the CRL.
Santa Monica Redevelopment Agency II-4 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
These original goals have been largely fulfilled with the completion of the Sea Colony
condominiums, Santa Monica Shores apartment complex, Ocean View Park, Neilson Villas and
Barnard Park Villas senior apartments. The effectiveness of the Ocean Park lA and 1B
Redevelopment Plans expires on January 1, 2012.' Thus, the Agency's goals for the remaining
two and a half years of the Redevelopment Plans include:
Goal 1-Affordable Housing
While increasing, improving and preserving the supply of affordable housing was not an
original goal of the 1960 and 1961 Ocean Park Projects, it has been, and will continue to be a
primary objective.'
Continue to deposit 20 percent of tax increment into the Redevelopment Housing Trust Fund.
• Continue to use funds above the 20 percent housing set-aside requirement and net of
administrative expenses and debt obligations for affordable housing through the Agency's
SFAH.
B. Five-Year Implementation Plan Revenues
Over the next five years, the Agency will undertake those activities for the Redevelopment
Program that can be financially supported by its revenue stream. As discussed above, affordable
housing activities have been historically funded and will continue to be funded from additional
tax increment revenues beyond the 20 percent housing set-aside funds (through SFAH).
The Agency has four basic revenue sources for the Redevelopment Program:
• Uncommitted fund balances through FY 2008-09.
• Annual tax increment revenues, net of the Agency's annual obligations including County
property tax administration costs, pass-through payments to affected taxing entities, Agency
administrative expenses, outstanding debt obligations, and the 20 percent Housing Set-Aside
Fund.
• Additional revenues from future debt issued over the next five years.
• Local, state and federal funding sources that could potentially be leveraged with Agency
resources.
Tables II-1, II-2 and II-3 summarize the Agency's projections of anticipated revenues over the
next five years from ERRPA and from the Downtown and Ocean Park Project Areas,
respectively. Each table shows the anticipated yeaz-end fund balance as of the beginning of
FY 2009-10. This fund balance is the amount of funds remaining after the Agency met all of its
obligations through FY 2008-09, including all prior budget commitments the Agency has made to
redevelopment projects that constitute the Non-Housing Program. This uncommitted fund
balance is divided between funds available for non-housing projects and those carried over from
s The Ocean Pazk lA and 1B Project Areas will continue to generate tax increment from the Ocean Pazk Project Area
for another ten years after the Redevelopment Plans' effectiveness expires (i.e., until January 1, 2022).
~ Funding of affordable housing with tax increment generated by the Ocean Pazk Project Areas was not required by the
CRL until 1986.
Santa Monica Redevelopment Agency II-5 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
prior years for affordable housing preservation and production activities. Overall, the Agency
anticipates Non-Housing Program revenues of $298.1 million.
The tables then show the projected tax increment revenues to the Agency over the next five years
after deductions for the Agency's annual obligations, inclusive of additional proceeds from future
debt, in order to project the funds available for the Agency's Redevelopment Programs The funds
are then distributed among non-housing projects and affordable housing preservation and
production projects and activities funded through SFAH.
As required by the CRL, the Agency must invest its property tax increment revenue in
eluninating blight, mitigating the effects of the Northridge Earthquake, and revitalizing the
Project Areas. The Agency will invest in public improvements to foster an environment in which
property values can flourish in the Project Areas. Increased property values translate to a greater
tax base within the Project Areas, and Agency revenues, which can then be reinvested in the
Project Areas.
s The tax increment projections are intended only as estimates that aze based on the best available information at the
present time. Actual tax increments may be higher or lower than indicated in the projections. The projections in this
report are not intended to predict future tax increment growth resulting from the increase in assessed value.
Santa Monica Redevelopment Agency II-6 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Table II.1
Projected Revenues Available for Non Housing Programs
Earthquake Project Recovery Area FY 2009.10 through FY 201314
Santa Monica Redevelopment Agency
Tax
Less:
Less:
Less:
Net r
Other a
Additional v
Non-Housing lU
Program Funds 11
Increment Pass-through Redevelopment Non-Housing Tax Agency Revenue Supplemental Grand
Year Revenues Payments/ Housing Debt lncrementa Income` From Non-Housing Funds for "Total
To Agency" Agency Admin./ Trust Fund Obligations` Future Projects Affordable
County Admin.° Deposits Dubtr Housing (SFAII)
FY 2008-09 Year-
$26,872,000
$1,319,000 ~ $28,191,000
~FY 2012-13 ~ $72,460000 ~ $28,225000 ~ $14,492,000 ~ $10,157,000 ~ $]9,586,000 ~ $1,660,000 $0 $21.146,000 $0 $2].]46.000
. w„-,v ai4,u i4,uuv aw,ro i,wV :;1v,v10,wV yt4,v~Y,000 $16,U33,000 $1,560,000 $56,611,000 $74,204,000 $0 $74,204,000
Total $352,924,000 $136,829,000 $70,585,000 $41,890,000 $103,620,000 $7,800,000 $143,389,000 $239,400,000 $43,600,000 $283,000,000
a. Bquals the amount remitted to the Agency, whioh ie grow tax revenues less Section 33676 Base Year Adjustment Valves.
b. Bquels the sum of pace-through payments, Agency admin costs, pay~nente into the Property Besad Aesessruent Dislric[ (PBAD), and Conn[y admin coats.
a Includes promissory note payments and debt service for Series 1999 and estimated increases For additional debt obligations that ue anticipated to bogie on FY 2011-12.
d. Bquals not tax increment rovennes to Agcucy less pass-tlvough payments, Agency and Cotmty admin, Redevclopmon[ Housing Truat Pund deposits end non-housing debt obligations.
e. Inclndae property revenue and regular interest.
E Aaeumes new dab[ issued in PY 2011-12 and PY 2013-14.
Sourco: Santa Monica RudavelopmentAgency.
Santa Monica Redevelopment Agency Seifel Consulting Inc.
Five Year Implementation Plan FY 200910-FY 2013-14 II-7 November 2009
Table II.2
Projected Revenues Available for Non-Housing Programs
Downtown Redevelopment Project FY 2009.10 through FY 2013.14
Santa Monica Redevelopment Agency
1 2 3 4 5 6 7 8 9 10 11
Taz Less: Less: Less: Net Other .Additional Non-Housing Program Funds -
Increment Pass-through Redevelopment Non-Housing Tax Agency Revenue Supplemental Grand
Year Revenues Payments/ Housing Debt Increment` Income" From Non-Housing Funds for Total
To Agency" Agency Admin./ Trust Fund Obligations Future Projects Affordable
County Admin." Deposits Debt Housing (SFAH)`
FY 2008-09 Year-
End Fund Balance $0 $716,000 $716,000
FY 2009-10 $1,228,000 $443,000 $246,000 $230,000 $309,000 $58,000 $0~ $0 $367,000 $367,000
FY 2010-11 $1,809,000 $502,000 $362,000 $230,000 $715,000 $58,000 $0 $0 $773,000 $773,000
FY 2011-12 $2,116,000 $594,000 $423,000 $230,000 $869,000 $58,000 $0 $0 $927,000 $927,000
FY 2012-13 $2,159,000 $627,000 $432,000 $230,000 $870,000 $58,000 $0 $0 $928,000 $928,000
FY 2013-14 $2,203,000 $662,000 $441,000 $230,000 $870,000 $58,000 $0 $0 $928,000 $928,000
Total $9,515,000 $2,828,000 $1,904,000 $1,150,000 $3,633,000 $290,000 $0 $0 $4,639,000 $4,639,000
a. Equals [hc amount remitted to the Agency, which is gross tax revenues less Section 33676 Basc Ycae Adjustment Values.
b. Equals the sum ofpass-tlu'ough payments, Agency admin costs and County admin costs.
c. Equals net tax increment revenues to Agency lass pass-through payments, Ageuoy and County ndmin, Redevelopment Housing Trust Fund deposits and
non-horsing debt obligations
d. Other Agency income includes interest payments
e. To the extent that such non-housing program funds are not utilized for the repayment of existing debt service.
Source: Santa Monica Redevelopment Agency.
Santa Monica Redevelopment Agency Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 201314 II-8 November 2009
Table II.3
Projected Revenues Available for Non-Housing Programs
Ocean Park Redevelopment Project 1A and 1B FY 2009.10 through FY 2013.14
Santa Monica Redevelopment Agency
r z ~ a 5 6 7 8 9 la 11
Tax Less: Less: Less: Net Ocher AddiCional Non-Housing Program Funds
Increment Agency Admin./ Redevelopment Non-Housing Tax Agency Revenue Supplemental Grand
Year Revenues County Admim" Housing Debt Increment' Income` From Non-Housing Funds for Total
To Agency° Trust Fund Obligations` Future Projects Affm~dable
Deposits Debt Housing (SFAH)`
FY 2008-09 Year-
End Fund Balance $0 $2,049,000 $2,049,000
FY 2009-10 $3,987,000 $352,000 $798,000 $1,399,000 $1,438,000 $155,000 $0 $0 $1,593,000 $1,593,000
FY 2010-11 $4,066,000 $372,000 $813,000 $1,398,000 $1,483,000 $155,000 SO $0 $1,638,000 $1,638,000
FY 2011-12 $4,148,000 $384,000 $829,000 $1,398,000 $1,537,000 $155,000 $0 $0 $1,692,000 $1,692,000
FY 201.2-]3 $4,233,000 $399,000 $846,000 $1,399,000 $1,589,000 $1.55,000 $0 $0 $1,744,000 $1,744,000
FY 2013-14 $4,32Q000 $412,000 $864,000 $1,397,000 $1,647,000 $155,000 $0 $0 $1,802,000 $1,802,000
Total $20,754,000 $1,919,000 $4,150,000 $6,991,000 $7,694,000 $775,000 $0 $0 $10,518,000 $10,518,000
n. Equals the amount remitted to the Agency, which is gross tax revenues less Section 33676 Base Year Adjushnem Values.
b. Equals the snm oPAgency admin costs and County admin vests. Ocean Park lA & IB do not pay pass through payments.
c. hrclndee debt servioe payments for Series 20020P.
d. Equals not tax incremenl'rovonues to Agency less Agenoy and County admin, RcJovelopment l4ousing Trust Fund Joposite and non-housing dobt obligfltions.
e. Includes interest income only.
f. To the extant that such non-housing program funds are not utilizod for the repayment of existing debt service.
Sonree: Santa Monioa Redevelopment Ayrency.
Santa Monica Redevelopment Agency Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 201314 II'9 November 2009
C. Five-Year Projects, Activities and Expenditures
The Agency will undertake projects and activities in the Project Areas over the next five years to
alleviate the impacts of the Northridge Earthquake and other adverse conditions and to achieve
the redevelopment goals described in this Implementation Plan. These projects and activities
constitute the Agency's Non-Housing Program. Chapter III describes the affordable housing
projects and activities funded through both the Redevelopment Housing Trust Fund
(Housing Fund) and through the Agency's supplemental funds for affordable housing (SEAR).
The Agency anticipates that over the five-yeaz period, projects and activities will be funded with
available tax increment revenue and through a series of debt fmancing structures. It is assumed
that the Agency will increase its debt obligations by leveraging its increment and incurring new
debt during this five-year Implementation Plan period.
The Agency anticipates expenditures and commitments during the FY 2009-10 to FY 2013-14
period of approximately $298.1 million based on the Agency's financial plans as described
above e These estimated expenditures and commitments are generally described below and
assume new debt of $143.4 million. The following sections outline the estimated expenditures
and commitments by specific goal and program area. The expenditures discussed aze only
estimates of anticipated costs, which may change as actual funding obligations are made through
budgetary approvals or appropriations by the Agency over the next five years.
Tables II-4 and II-5 summarizes estimated expenditures during the five-year Implementation Plan
period, FY 2009-10 through FY 2013-14.' The nature and scope of the activities and expenditures
have been shaped by Agency goals and objectives for the Project Areas, available revenues for
funding projects and activities, and the impacts of the Northridge Earthquake and other blighting
factors to be eliminated within the Project Areas. The projected expenditures on Agency projects
and activities included in Tables II-4 and II-5 represent an estimate based on reasonable
assumptions regarding potential tax increment revenues over the next five years and is organized
by the Redevelopment Program activities s
ERRPA Programs for FY 2009-10 through FY 2013-14
Over the next five years, the Agency anticipates $283 million to be available for distribution
among five program categories that reflect the goals and objectives. Of this amount,
$239.4 million is available for non-housing projects and activities and $43.6 million in SFAH for
housing.
Section 33490 requires that the Implementation Plan include an explanation of how the goals and
objectives, programs and expenditures will eliminate blight within the Project Area. Although the
primary purposes of the ERRPA are to alleviate the impacts of the Northridge Earthquake by
5 This amount includes 558.7 million for SFAFI, but does not include the $70.5 million in housing set aside to be
deposited into the Housing Fund.
~ All historical and projectedrevenues and expenditures in this document aze expressed in furore value dollars, also
referred to as nominal dollars.
s FY 2008-09 through FY 2013-14 revenues and expenditures do not include prior yeaz appropriations, but show the
FY 2007-08 yeaz-end balance.
Santa Monica Redevelopment Agency II-10 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
assisting in the reconstruction of buildings and stimulation of local economic activity, programs
will alleviate additional blighting conditions, as identified under each program category below.
The Agency anticipates undertaking the following activities and allocating the following amounts
to each major program:
Disaster Prevention and Mitigation
ERRPA funds will continue to assist ih the seismic upgrade of essential or vulnerable public
facilities and structures within the Project Area that are vital to the health and safety or
commercial revitalization of the Project Area. The Agency anticipates undertaking the following
categories of programs:
• Implement the Downtown Parking Program providing for (1) the seismic retrofit of one more
parking structure and (2) the demolition and rebuilding of two parking structures in the
downtown area, (3) general improvements to six parking structures, and (4) the acquisition of
sites for and construction of additional parking structures in the downtown.
• Complete the stabilization of the Palisades Bluff area and any improvements necessary for
seismic safety.
• Rehabilitate and adaptive reuse the Civic Center Auditorium.
• Improvement or replacement of vulnerable or deteriorating public infrastructure, such as
bridges and piers, drainage and sewage systems, water and wastewater mains, pier utility
hangers, fire protection systems and traffic signal systems.
In addition to alleviating the impacts of the Northridge Earthquake by assisting in the
reconstruction of buildings and stimulation of local economic activity, implementation of this
program would also alleviate the following conditions of blight: (1) unsafe, dilapidated or
deteriorated buildings caused by the earthquake; and (2) inadequate public improvements,
infrastructure and facilities.
Estimated Five-Year Program Expenditure: $56.4 million
Commercial Revitalization
ERRPA funds will be used for programs that will promote business expansion and economic
investment in the Project Area, preserve the area's existing employment base, implement
sustainable land use principles, as set forth in LUCE, and support transit-oriented development, as
follows.
• Improve the area's streetscapes, including lighting, curbs; landscaping, crosswalks, traffic
signals and paving to enhance the consumer and business experience.
• Promote transit and transit-oriented development.
• Infrastructure improvements to facilitate Phase 2 of the Expo Light Rail, connecting
downtown Santa Monica with the Ciry of Los Angeles, in conformance with the LUCE.
Implementation of this program would alleviate the following additional conditions of blight (1)
inadequate public improvements, infrastructure and facilities and (2) depreciated or stagnant
property values or impaired investment.
Estimated Five-Pear Program Expenditure: $10 million
Santa Monica Redevelopment Agency II-11 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Community Revitalization
ERRPA funds will be used to implement the community revitalization goals through funding of
the following activities:
• Implement the Civic Center Specific Plan, including Civic Center Auditorium Districts
Project, Palisades Garden Walk and Town Square, Early Childhood Education Center,
Freeway Capping, and parking enhancements.
• Promote the development of facilities and programs enhancing arts and culture.
• Formulate and implement the Memorial Park Master Plan.
• Undertake capital improvement projects and architectural or engineering studies for projects
that serve or benefit the Project Area. Such projects may include the following: circulation;
water, sewer or electrical system improvements; facilities to improve and enhance safety in
the Project Area; off-street, flex or shared parking; Expo green streets and pathways,
including streetscape improvements; Pico Neighborhood Branch Library and other public
facilities and park improvements, such as those associated with the Civic Center Specific
Plan.
• Improve and upgrade buildings with community-serving purposes.
• Supporting developments with public benefits and community-serving projects.
• Facilitate alternate forms of transportation.
Implementation of this program would alleviate the following additional conditions of blight:
(1) factors preventing the economically viable use of buildings-lots; and (2) inadequate public
improvements, infrastructure and facilities.
Estimated Five-Year Program Expenditure $115.9 million
Institutional Revitalization
ERRPA funds will be used to implement the community revitalization goals through funding of
the following activities:
• Undertake joint use opportunities on the campus of the Santa Monica High School, such as
creating a new Michigan Avenue bicycle and pedestrian path connecting 7`" and 4`" Streets
and various recreational, athletic and cultural facilities.
Implementation of this program would alleviate the additional condition of blight: inadequate
public improvements, infrastructure and facilities.
Estimated Five-Year Proeram Exaenditure: $57 million
Affordable Housing
The Agency proposes to allocate funds over the next five years to provide affordable housing for
very low, low and moderate-income households. Pursuant to the Agency's affordable housing
objectives delineated in Chapter III, the funds will be used for land acquisition, new construction,
and acquisition and rehabilitation projects to increase, improve or preserve the supply of
affordable housing within the city. Other activities consistent with the City's Housing Element,
Santa Monica Redevelopment Agency II-12 Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Consolidated Plan, and the CRL may also be considered. Funds maybe loaned or granted to
eligible borrowers for these uses. Refer to Chapter III for the Agency's Affordable Housing
Program.
Estimated Five-Year Pro~-am Expenditure: $43.6 million (SFAH)
2. Downtown Programs for FY 2009-10 through FY 2013-14
Over the next five years, the Agency proposes to allocate all available funds generated by the
Project Area (net of administrative expenses and debt obligations) to affordable housing outside
of the Project Area. Refer to Chapter III for the Agency's Affordable Housing Program.
Estimated Five-Year Program Expenditure: $4.6 million (SFAH)
3. Ocean Park 1A and 1B Programs for 2009-10 through January 1, 2012
Over the next five years, the new plan proposes to allocate all available funds (net of
administrative expenses and debt obligations) to affordable housing. Refer to Chapter III for the
Agency's Affordable Housing Program.
Estimated Five-YearPro2ram Expenditure: $IO.Smillion(SFAH)
Santa Monica Redevelopment Agency II-13 Seifel Consulting Inc.
Five-Year Implementation PIan.FY 2009-10-FY 2013-14 November 2009
Table 11-4
Projected ERRPA Non Housing Program Expenditures
FY 2009-10 through FY 2013-14
Santa Monica Redevelopment Agency
Estimated Program
Expenditures
Disaster Prevention and Mitigation
Civic Auditorium Renovation
$25,000,000
Downtown Parking Program $27,000,000
Traffic Signal Master Plan $4,400,000
Subtotal Disaster Prevention and Mitigation $56,400,000
Commercial Revitalizafion
Exposition Light Rail Station Enhancements
$10,000,000
Subtotal Commercial Revitalization $10,000,000
Community Revitalization
Civic Auditorium Districts Project
$21,000,000
Civic Center Parks and Public Facilities Planning and Design $2,500,000
Palisades Garden Walk and Town Square $25,000,000
Early Childhood Education Center $4,400,000
Freeway Capping $2,000,000
Expo Green Streets and Pathways $20,900,000
Shared Parking $25,000,000
Pico Neighborhood Branch Library $12,800,000
Memorial Park Expansion $2,300,000
Subtotal Community Revitalizafion $115,900,000
Institutional Revitalization
School District Joint Use Master Plan
$57,000,000
Subtotal Institutional Revitalization $57,000,000
Affordable Housing $43 600 000
> >
TOTAL $283,000,000
Sowce: Santa Monica Redevelopment Agency
Santa Monica Redevelopment Agency Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 II-14 November 2009
Table II.5
Projected Five Year Non-Housing Program Expenditures
FY 2009.10 through FY 2013-14
Santa Monica Redevelopment Agency
Project Area Estimated Program
Expenditures
2009-10-2013-14
Earthquake Recovery
Disaster Prevention and Mitigation $56,400,000
Commercial Revitalization $10,000,000
Community Revitalization $115,900,000
Institutional Revitalization $57,000,000
Affordable Housing $43,600,000
Total for Earthquake Recovery $283,000,000
Downtown
Affordable Housings $4,639,000
Total for Downtown $4,639,000
Ocean Park lA/1B
Affordable Housing' $10;518,000
Total for Ocean Park lA/1B $10,518,000
Total Expenditures $298,157,000
a. Includes a combined total of 56.7 million of SFAH funds which may be reduced to pay existing debt service.
Source: Santa Monica Redevelopment Agency
Santa Monica Redevelopment Agency Seifel Consulting Inc.
Five-Year Implementation Plan FY 2009-10-FY 2013-14 II-15 November 2009
Housing Component
This chapter comprises the housing component of the Implementation Plan. The housing
component summarizes the Agency's housing obligations pursuant to the legal requirements of
the CRL and provides an overall framework for the Agency's Housing Program goals and
expenditures. Pursuant to state law; the Agency is guided by the City's adopted and certified
General Plan Housing Element and its Consolidated Plan.' The Agency intends to implement all
relevant goals, policies, strategies, and programs from the Housing Element and Consolidated
Plan, as generally described in this chapter.
The housing portion of the Implementation Plan is required to set forth housing goals and
objectives for the five-year Implementation Plan period (FY 2009-10 through FY 2013-14),
present estimates of deposits into the Redevelopment Housing Trust Fund (also refereed to as the
Housing Fund), describe potential projects and estimated expenditures planned for the five-year
Implementation Plan period, and explain how the stated goals, objectives, deposits, programs,
projects, and expenditures will produce affordable housing units to meet these obligations.
This chapter includes all affordable housing planning components required by the CRL for an
implementation plan. It is organized as follows:
• Section A: The Housing Production Plan, including the total number of housing units
estimated to be produced and the number of affordable housing units to be produced for two
time periods:
- For the current compliance period
- Over the life of the Redevelopment Plan
• Section B: Identification of proposed locations for replacement housing that the Agency
would be required to produce if a planned project will result in the destruction of existing
affordable housing.
° Section C: The amount available for affordable housing activities, includmg estimates of
annual deposits into the Housing Fund, Line of Credit Proceeds and supplemental funds for
affordable housing (SFAH) during the five-year Implementation Plan period, and the
Agency's plans for using the funds; and estimated expenditures for each of the five years.
• Secfion D: The Affordable Housing Program with estimates of the number of new,
rehabilitated or price-restricted affordable housing units to be assisted by the Housing Fund
during each of the five years and a description of how the Affordable Housing Program will
implement the Housing Fund expenditure targeting based on income, non age-restricted
housing, and other requirements.
• Section E: A description of the Agency's Affordable Housing Activities over the previous
five-year Implementation Plan period that meets CRL reporting requirements.
• Section F: A description of how the Agency will meet its housing obligations for the
Ocean Park lA and 1B Project Areas, which arewithin six years of completion bf project
activities.
~ The City's Housing Element was certified by the State of California Department of Housing and Community
Development (HCD) in February 2009. The current Consolidated Plan is in effect until June 3Q, 2010. The Ciry will
begin to update its Consolidated Plan in the beginning of 2010.
._.....__._ ,. _~_.__ ...,-...__. ...__.__ _,..,~n~, w.w..~_.., ..v . ......... ... .. ..:_.~ ........~..,_~.
Santa Monica Redevelopment Agency III 1 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
A. Affordable Housing Obligations and Housing Production Plan
This section constitutes the Housing Production Plan and includes descriptions of the Agency's
affordable housing obligations over the current ten-year compliance period and over the life of
the Redevelopment Plans. It includes estimates of housing production subject to the affordable
housing production requirements and the Agency's strategy for meeting its affordable housing
production obligations.
CRL Affordable Housing Obligations
Redevelopment agencies administering project areas created by redevelopment plans adopted on
or after January 1, 1976 must meet an affordable housing production requirement. Since the
Ocean Park lA and 1B Project Areas were adopted prior to 1976 and the Downtown Project Area
is designated exclusively for non-residential use, ERRPA is the only Project Area subject to the
housing production requirement.
As part of an implementation plan, an agency must adopt the Housing Production Plan, a plan
showing how the agency intends to meet its affordable housing production requirements. The
plan must be consistent with the community's housing element and must cover the following time
periods:
Production over the ten year compliance period (FY 2004-OS through FY 2013-14).
• Production through the life of the ERRPA Redevelopment Plan (through FY 2024-25).
The Housing Production Plan must include estimates of the number of residential units to be
produced within project areas. It also must include the number of units to be developed or
substantially rehabilitated at an affordable housing cost to very low, low and moderate-income
households in order to meet the affordable housing obligation (CRL Section 33413).
Additionally, the Plan must include estimates of the number of units the agency itself will
produce or will provide assistance to produce during the time period of the Plan, including the
number of units available at an affordable housing cost to very low, low and moderate-income
households, generally defined as those with:
• Very Low Income: up to 50 percent of azea median income, adjusted for household size.
• Low Income: from 50 percent up to 80 percent of area median income, adjusted for
household size.
• Moderate Income: from 80 percent up to 120 percent of area median income, adjusted for
household size.
a. Affordable Housing Cost and County's Maximum Income Limits
Affordable housing cost is defined with regard to proportion of household income spent on
housing and to Area Median Income figures published by HCD. These defmitions are shown
below in Table III-1.
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Table III-1
Affordable Housing Cost
Santa Monica Redevelopment Agency
Rental Housin ~ Ownersh i Housin
Income Level Income Spent
on Housin
g % of Area
n
Median Income % Income Spent
on Housin
g % of Area Median
n
Income
Very Low 30% 50% 30% 50%
Low 30% 60% 30%` 70%`
Moderate 30% 110% 35%` 110%
a. Rental housing costs include rent and utility allowance. Affordable housing costs are adjusted by number
of persons in household.
b. The CRL requires HCD median income figures published by HCD, and not HUD, to be utilized. In many
instances, this causes CRL-restricted rents to be lower thanHOME rents and low-income housing tax
credit rents. In the instance a project receives Housing Fund and HOME or tax credit assistance, the
project must meet all applicable CRL requirements and the CRL-restricted rents must prevail in order
to meet the.Agency's obligations.
c. With optional higher housing cost linked to actual income at upper end of income category.
Source: CRL Sections 50052.5 and 50053(b).
Table III-2, below, shows the maximum income limits for each income level by household size,
published in 2009 bythe State of California Department of Housing and Community
Development (HCD) utilizing income limits prepared by the U.S. Department of Housing and
Urban Development (HUD) for Los Angeles County.
Table III-2
2009 Los Angeles County Maximum Incomes by Income Category and Household Size
Santa Monica Redevelopment Agency
Persons per Household
Income Cate or 1 2 3 4 5 6 7 8
Very Low Income 27,750 31,700 35,700 39,650 42,800 46,000 49,150 52,350
Lower Income 44,400. 50,750 57,100 63,450 63,550 73,600 78,700 83,750
Median Income 43,450 49;700 55,900 62,100 67,050 72,050 77,000 81,950
Moderate Income 52 150 59 600 67 050 74 500 80,450 86 400 92 400 98 350
Source: California Deparonent of Housing and Community Development, 2008.
The subsections below describe the Agency's affordable housing production requirements in
detail, including Agency developed housing, housing not developed by the Agency, required
affordability covenants, Agency ability to acquire affordability covenants, aggregation of
affordable housing units, and fulfillment of the Agency's housing production obligations.
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b. Inclusionary Obligation
Housing Developed by the Agency
For housing units duectly developed by the Agency, the CRL inclusionary housing obligation
requires at least 30 percent of the units to be affordable to persons and families of very low, low
or moderate-income. Of those units, at least 50 percent must be affordable to very low income
households. As shown in Table III-3 below, the 50 percent requirement translates to 15 percent of
the total number of units developed or rehabilitated by an agency (50 percent of 30 percent equals
I S percent). This requirement applies only to units developed by an agency and does not apply to
units developed by housing developers pursuant to agreements with an agency
(Section 33413(b)(1)). This production requirement is not anticipated to apply because the
Agency has not directly developed housing and does not anticipate directly developing dwelling
units.
Housing Not Developed by the Agency
When new dwelling units are developed in a project area by public or private entities other than
the agency or when housing is substantially rehabilitated in a project area by public or private
entities with agency assistance, at least 15 percent of these units must be affordable to very low,
low or moderate income-households ~ Of those units, at least 40 percent must be affordable to
very low income households. As shown below in Table III-3, this 40 percent requirement for very.
low income households translates to 6 percent of the total number of units (40 percent of
15 percent equals 6 percent) (Section 33413(b)(2)). This affordable housing production
requirement applies to the ERRPA.
Table III-3
CRL Inclusionary Housing Production Obligations
Santa Monica Redevelopment Agency
Income Level A ency Developed° Not A enc Develo ed
Ve Low 15% 6%
Low/Moderate 15% 9%
Total 30% IS%
a. Requirement expressed as percentage of all units developed.
b. The Agency has not developed, nor does it expect to develop,
any housing units within the Project Areas.
Source: CRL Sections 33413.(b)(1) and 33413.(b)(Z)(A)(i).
"Prior to 1994, the rehabilitation of any unit, whether substantial or not, triggered affordable housing production
requirements. Afrer 1993 and until January 1, 2002, housing production requirements were triggered by (a) the
substantial rehabilitation of a multifamily residental project with three or mote units regardless of whether an agency
provided fmancial assistance and (b) the substantial rehabilitation of a one or two unit residential project i£ the project
received agency assistance. Legislation effective January 1, 2002, impose the affordable housing production
requirement on substantial rehabilitation projects that receive agency assistance regardless of the number of units.
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c. Covenant Requirements
Duration and Enforceability of Affordability Covenants
As of January 1, 2002, affordable housing units must be subject to affordability covenants of the
longest feasible time, but not less than 55 years for rental units and 45 for owner occupied units to
meet the affordable housing production requirement (Section 33413(c)(1)) s An agency may .
permit sales of owner-occupied units prior to the expiration of the 45-year period for a sales price
in excess of affordable cost pursuant to a program that protects the agency's investment of
Housing Fund monies, including, but not limited to, an equity sharing program that establishes a
schedule of equity shazing that pernuts retention by the seller of a portion of the excess proceeds,
based on the length of occupancy. The remainder of the excess proceeds of the sale must be
allocated to the agency and deposited in the Housing Fund. Within three years from the sale of
the units, the agency must expend funds to make affordable an equal number of units at the same
income level as the units sold. Only the units originally assisted by the agency can count towards
the agency's affordable housing replacement and production obligations (Section (33413(c)(2)).
An agency must require the recording of affordability covenants or restrictions for each parcel or
unit with the office of the county recorder of covenants or restrictions. Covenants and restrictions
are enforceable by the agency ox community (Section 33413(c)(3)).
Agency Acquisition of Affordability Covenants
To satisfy the affordable housing production requirements, an agency may purchase or otherwise
acquire affordability covenants on existing multifamily housing units that are not presently
available at affordable housing cost, or are affordable to households of low or very low incomes
but are units that the agency finds, based upon substantial evidence after a public hearing, cannot
reasonably be expected to remain affordable to the same group of persons or families. Affordable
units made available by an agency's acquisition of long-term affordability covenants may count
towards the agency's affordable housing obligation. The covenants must be for 55 years for rental
units and 45 years for owner occupied units. However, no more than 50 percent of an agency's
affordable housing production obligation can consist of units made available by the acquisition of
long term affordability covenants, and not less than 50 percent of units made available by the
acquisition of long term affordabIlity covenants shall be available at an affordable housing cost
to, and occupied by, very low income households (Sections 33413(b)(2)(B) and (C)).
d. Compliance with Production Requirements
Aggregation of Units
The CRL permits an agency with more than one project area to meet its affordable housing
production requirements in the aggregate in one or more of those project areas if the agency finds,
based on substantial evidence, after a public hearing, that the aggregation will not cause or
exacerbate racial, ethnic, or economic segregation (Section 33413(b)(2)(A)(v)).
~ Prior to January I, 2002, in order for units to count towards fulfilling affordable housing production requirements,
units had to be subject to affordability covenants of at least the duration of the redevelopment plan's land use
controls.
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Units Produced Outside of Project Areas
The Agency may also count affordable units built outside of the Project Areas towards its
production obligation. For every two units built within the community and outside of the Project
Areas, the Agency receives credit for one unit towards its affordable housing production
requirement (Section 33413(b)(2)(a)(ii)).
Fulfillment of Housing Production Obligation
The affordable housing production obligation must be fulfilled prior to the time limit on a
redevelopment plan's effectiveness. Alternatively, a redevelopment plan maybe extended until
the Agency's housing obligations are met. Under the CRL, a redevelopment project cannot be
terrninated if the agency has not met its affordable housing production requirements. Refer to
Section E, which discusses the Ocean Park lA and 1B Project Areas, for further detail.
2. Historical Housing Production, Obligation and Compliance
(Through FY 2003-04)
The Agency reports that 2,825 units were produced in the ERRPA through FY 2003-04, of which
2,298 units were newly constructed and 527 were substantially rehabilitated, as shown in Table
III-4, below. This level of production resulted in a housing production obligation of 424
affordable units (15 percent), of which 170 units (40 percent) ware required to be affordable to
very low income households.
The Agency met its affordable housing production requirements through the first ten year
compliance period (FY 1994-95 through FY 2003-04). Through 2003-04, 1,154 affordable units
count towards the Agency's affordable housing production obligation, of which 496 are
affordable to very low income households.° The Agency exceeded the requirements for the
production of units affordable to very low income households and units available to very low, low
and moderate income households: These units, along with the requirements described in the
preceding pazagraph, are displayed in Table III-4, below.
"Units produced outside Project Areas have been included on a one for two basis.
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Table III-4
Housing Production and ANordable Housing Obligation
Earthquake Recovery Redevelopment Project Area
Santa Monica Redevelopment Agency
Through
FY 2003-04 FY 2004-OS -
FY 2006-D9 FY 2009-SO -
FY 2013-14 FY 2004-OS -
FY 2013-14" FY 2014-15 -
Life of Plan° 'fatal over
Life of Plan`
Percent over Life of Plan
Housing Pmdnction in ERRPA°
Newt Constructed Units 2,298 707 946 1,653 1,910 5,861
8ubs[au[ially Rehabilifated Units 527 46 0 46 0 573
Total 2,825 753 946 1,699 1,910 6,434 ~,
CRL AffoNuhle Housing Obligation`
Very Low 170 46 57 103 115 3S8 6%
Total Very Low, Low ar Moderate 424 113 142 255 287 966 15%,
„ ,~
AtTnrdablo Houein Production`
g
Ver Low 496 165 137 302 115 913 16%
Total Very Low, Low or Moderate 7,754 38U 323 703 287 2,144 33
Affordable Production Surplus (Deficit)°
Very Low 326 ]l9 BO 199 0 525
Total VeryLOw, Low or Moderate 730 267 181 448 U 1,178 -
Note: Totals may gym[ add exactly due to rounding. CAL affordable housing production requirements are rounded up to the neazest whole unit for each time period.
The total obligel'iun for the tea year and overall compliance period may be less Phan fha total of tho individual year's.
a. As rogrdrnd by CRL, total units over tan year compliance period (Seotion 3349U(a)(2)(H)).
h. 'focal units produced in the ERRPA from FY 20]4-15 through the life of the redevelopment plan. This estimate is based an Appendix E (Suitable Sitce Analysis) of rho
2008 - 2014 Santa Monica Housing Hlement and assrtmes thee BO % of ell units to be built in the City will ba built within the HRRPA.
e. As required by the CRL, total unite over the life o4 the Redevelopment Plau (Section 33490(a)(2)(B)).
d. Total units produced in the HRRPA during [he spwifmd time period. (HRRPA is the only Project azea with a production obligation.)
e. Number ofaffordabla units required based on total housing production. Affordable housing production obligation Pox non-Agoncy developed housing requires
15 % of total write to bo available at affordable cost. Of those units, a0least 40 % must be affordable to very low ineomc households (6% of the votal units).
Agency developed housing has ]uglier iuclueionary requirements. Tha Agency has not, and does not entlclpata, directly developing unite ($ectiou 33413(6)(2)).
E Number of units satisfying CRL affordable housing production obligation, including affordable units located outside the ERRPA. Affordable units
produced outside the ERRPA count rat a ouc for lino basis. The number of very low, low or moderate income units for FY 2009-]0 -FY 2013-14 equals the number
of affordably units identified in Appaudix D (Affordable Housing in Cnnant Projeota) of the Santa Monica I-Iousing Hlement [o be built inside the ERRPA, plus 50%
of the units expected to be built outside of tho HRRPA. For the period from FY 2014-15 - Life oPPlan, this table assumes that the Agency will meet rho minimum '
CRL production requirements for vory low, low and moderate income unite. Proposition R, approved by Santa Monica voters in 1990, cequires that 30 % of all units
built within the City be made affordable to very low, low and moderate income households. Thus, the Agency is expected to Fer exceed its hooeing production requirement
for the current ten year complianco period mrd over the life of l'hc HRRPA Redevelopment Plan.
g. Remaining affordable surplrts or obligation at the end ofehe epecifiod period.
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Santa Monica Redevelopment Agency Seifel Consulting Inc.
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3. Ten Year Housing Production, Obligation and Compliance
(FY 2004-05 through FY 2013.14)
In the fast five yeazs of the ten-year compliance period (FY 2004-OS through FY 2008-09), the
Agency reports that 753 units have been produced in the ERRPA through FY 2008-09, of which
707 units have been newly constructed and 46 have been substantially rehabilitated. In total, 380
units aze available to very low, low and/or moderate income households, of which 165 are
available to very low income households.
Based on building permit data and known future projects as listed in the 2008 Housing Element,
the Agency estimates that 946 total housing units will be produced in the ERRPA between
FY 2009-10 and FY 2013-14, the second half of the ten year compliance periods Based upon this
forecast, the Agency will have an obligation to ensure at least 142 additional units (15 percent)
are affordable to very low, low and moderate income households. Of these, at least 57 units
(40 percent) must be available at affordable housing cost to very low income households.
Combining actual production in the first five years and projected production in the second five
years, a total of 1,699 units are estimated to be produced in the current ten-year compliance
period. This projection would create an obligation over the entire ten-year compliance period to
produce 255 units affordable to very low, low and/or moderate income households, of which 103
must be affordable to very low income households. After the first five years, the Agency is
already exceeding its projected affordable housing production obligation for the ten-year
compliance period.
The Agency estimates that 703 units affordable to very low, low and/or moderate income
households would count towards the Agency's affordable housing production obligation. Of
these, 302 units affordable to very low income households would count towards the Agency's
obligation. Thus, the Agency expects to produce more than twice the number of affordable
housing units required by the CRL.
Historical production, projected production, the Agency's resulting affordable housing
obligations, and the Agency's compliance are all displayed in Table III-4, above.
4. Production, Obligation and Compliance over the Life of the
Redevelopment Plan
Following the ten-year compliance period from FY 2004-OS through FY 2013-14, the Agency
estimates that 1,910 additional new units will be produced between FY 2014-15 and the date of
plan expiration, based on Housing Element forecasts.b For these years, the CRL requires that 287
units be made affordable, with at least 115 of these units affordable to very low income
households. Table III-4 assumes that the Agency will meet this affordable housing production
obligation. However, as Proposition R; approved by Santa Monica voters in 1990, provides. that
the City Council by ordinance shall require not less than 30 percent of all housing units be made
s The 946-unit estimate for FY 2009-I O through FY 2013- l4 was based on an analysis of housing developments in the
entitlement "pipeline" listed in Santa Monica's Housing Element.
e This estimate assumes that 80 percent of all units that the Housing Element forecasts to be built within the City will
be developed within the ERRPA.
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Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
affordable, half of which should be made affordable to very low income households, it is more
than likely that the amount of affordable housing actually produced in this period will exceed 287
units.
Based on the above, along with historical and projected substantial rehabilitation, the Agency
projects that a total of 6,434 housing units will be produced in the ERRPA over the life of the
Redevelopment Plan. Under this estimate, the Agency will have an obligation to ensure that at
least 966 units (15 percent) are affordable to very low, low and moderate income households. Of
these, at least 388 units (40 percent) must be available at affordable housing cost to very low
income households.
The Agency anticipates that 2,144 housing units affordable to very low, low and moderate
income households would count towards the Agency's affordable housing production obligation
over the life of the Redevelopment Plan. Of these, 913 units affordable to very low income
households would count towards the obligation.' Thus, the Agency anticipates that it will far
exceed the affordable housing production obligations over the life of the Redevelopment Plan.
Table III-4, shown above, summarizes the Agency's historical and project production, along with
its production obligations, by time period.
5. Agency's Plan to Meet Its Affordable Housing Obligation
The Agency has provided assistance, and plans to continue to provide assistance for the
development of affordable housing both inside and outside the ERRPA. The Agency has
exceeded, and expects to exceed, its obligation through Agency assistance for affordable housing
development and substantial rehabilitation.
The Agency itself has not drrectly developed any housing in the past, nor does it have plans to do
so in the future. The Agency has found it more cost effective and administratively efficient to
provide financial assistance, as necessary, to private developers (both for-profit and nonprofit) to
construct and rehabilitate affordable housing, than to act as a housing developer.
B. Replacement Housing Obligation and Program
When residential units occupied by very low, low and moderate-income households aze
destroyed, removed, or are no longer affordable due to agency action or assistance, an agency
must cause the replacement of those units within four yeazss The Agency may fulfill this
obligation with fewer units if an equal or greater number of bedrooms are provided than the
amount removed (Section 33413). At least thirty days prior to acquiring property or adopting an
agreement that will lead to the destruction or removal of low and moderate income housing units,
an agency must adopt by resolution a replacement housing plan that generally describes the
location, timing and method by which replacement housing will be provided (Section 33413.5).
~ Units produced outside Project Areas have been included on a one for two basis. Therefore the total number of units
that count towards the Agency's affordable housing production obligation does not equal the total number of
affordable units produced inside and outside the ERRPA.
$ The replacement housing requirement applies to project areas adopted after 1975. Thus, this requirement applies to
the ERRPA. Although the Downtown Project Area was adopted after 1975, the Project Area does not contain
residential uses. The requirement does not apply to the Ocean Park Projects Areas, which were adopted prior to
1975.
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Replacement units maybe located anywhere within the territorial jurisdiction of the agency
(Section 33413(a)). An agency may either construct replacement housing itself, or assist with the
development of replacement housing through agreements with housing developers.
Income and Affordability Requirements
The basic income and affordability standazds for replacement housing are the same as those
described above in Table III-1. The units must be available at affordable housing cost to
households of very low, low and moderate income. As of January 1, 2002, the CRL requires
100 percent of replacement units to be available at affordable housing cost to the same or lower
income level of households as the households displaced.9 Replacement units do not have to match
the tenure (rental versus ownership) or tenancy (age restricted or non-age restricted) of the units
that were destroyed or removed from the market.
2. Duration and Enforceability of Affordability Covenants
The affordability duration and enforceability requirements for replacement housing are the same
as those required for affordable housing production (Section 33413(c)). Refer to Subsection l.c.
above for a description of the requirements.
3. Priority Households
An agency must give priority in renting or buying housing developed as part of a redevelopment
project to households displaced by an agency regardless of whether the units are inside or outside
of a project area. As of January 1, 2002, an agency must maintain a list of displaced households
that are to be given priority. An agency may establish rules to determine priority:
4. Agency Replacement Housing Obligations FY 2004-05 through
FY 2008.09
During the previous five-year Implementation Plan period (FY 2004-OS through FY 2008-09), the
Agency participated in redevelopment activities that require replacement housing obligations. As
Table III-5 shows, 33 bedrooms in units affordable to very low income households and
3 bedrooms in moderate income units were removed from the affordable housing market. The
removed bedrooms were replaced with 33 very low income and 3 low income bedrooms in units
built in the-2411 Centinela (Tahiti) development. Thus, the Agency fulfilled its replacement
housing obligation within the previous five-year Implementation Plan period.
~ For dwelling units destroyed or removed afrer September 1, 1989 and before January (, 2002, the CRL required that
75 percent of the replacement units be available at affordable housing cost to the same income level of households
(very low, low or moderate income) as were displaced from the units removed or destroyed (Section 33413(a)).
..v~„ .~.~.._._. ..rem... ~~e...P ..emme.w. .. ..e .e.. .., .. .., `""' __ _~._.._ ._.._..... _ ._._~._.
Santa Monica Redevelopment Agency III-10 Seilel Consulting Inc.
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Table III-5
Replacement Housing Obligation FY 2004-q5 through FY 2008.09
Santa Monica Redevelopment Agency
5.
Ve Low Low Moderates Total
Bedrooms Removed
High Place East (FY 2008-09)
2411 Centinela FY 2005-06
11
22
0
0
3
0
14
22
Total Bedrooms Removed 33 0 3 36
Replacement Bedrooms Built
2411 Centinela Y 2005-06
33
3
0
36
Total Re IacementBedrooms 33 3 0 36
Remainin Obli ation 0 0 0 0
a. Replacement bedrooms must be at the same or lower income category as the bedrooms
removed. Thus, bedrooms in units affordable to moderate income households maybe
replaced with bedrooms in units with low income households.
Source: Santa Monica Redevelopment Agency.
Agency Replacement Housing Obligations FY 2009-10 through
FY 2013-14
During the current five-year Implementation Plan period (FY 2009-10 through FY 2013-14), the
Agency anticipates that 22 bedrooms in units affordable to very low income households will be
removed from the affordable housing market by two different developments, as shown in
Table III-6, below. The Agency's replacement housing plan requires that the units removed by
these projects be provided onsite in the new developments within four years, thus fulfilling }he
Agency's replacement housing obligation.
Table III-6
Replacement Housing Obligation FY 2009-10 through FY 2013-14
Santa Monica Redevelopment Agency
Ve Low Low Moderate Total
Bedrooms Removed
430 Pico 10 0 0 10
FAME 12 0 0 12
Total Bedrooms Removed 22 0 0 22
Replacement Bedrooms to Be Built 0
430 Pico 10 0 0 10
FAME 12 0 0 12
Total Re lacement Bedrooms 22 0 0 22
Remainin Obli ation 0 0 0 0
Source: Santa Monica Redevelopment Agency.
Santa Monica Redevelopment Agency III-11 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
C. Agency Housing Resources
This section describes the resources available for the Agency's affordable housing activities
during the five-year Implementation Plan period. These sources include the CRL required
housing fund, which consists of the CRL-required 20 percent housing set-aside of annual tax
increment revenue; debt issuance proceeds; and interest income. Agency housing resources also
include supplemental funds for affordable housing (SFAH), which are non-housing tax increment
funds used for affordable housing activities. The Agency uses these funds to leverage other
funding sources such as CDBG and HOME.
The Agency has considered affordable housing, along with alleviating the impacts of the
Northridge Earthquake, the two top priorities for the use of tax increment funds. As part of the
adoption of the Agency's 1999 Five Year Implementation Plan, the Santa Monica Redevelopment
Agency Boazd set policy by directing Agency staff to identify ways to accelerate the generation
of housing revenues and target tax increment not needed for critical seismic work to affordable
housing. Specifically, the Agency Board directed staff to direct uncommitted funds and funds not
legally mandated for affordable housing from three of its Redevelopment Project Areas to be
allocated to affordable housing. This policy was continued in 2004, and will be continued over
the next five yeazs.
Each year, after balancing its obligations, the Agency determines the amount ofnon-housing
funds to be committed to preserving and producing affordable housing units. These SFAH
revenues complement Housing Fund monies and underscore the Agency's decision to prioritize
affordable housing production as a major redevelopment activity. The Agency has more
flexibility in expending SFAH than Housing Fund revenues. Therefore, SFAH is a critical tool for
the Agency to meet the affordable housing needs of the ERRPA and the community as a whole.
1. Agency's Housing Resources (FY 2009-10 through FY 2013.14)
Table III-7 below presents the Agency's resources available for affordable housing activities for
FY 2009-10 through FY2013-14. Approximately $160.9 million will be available over the five-
yeazperiod, including $102.1 million from the CRL-required 20% housing set-aside and
$58.7 million through SFAH.
a. Deposits to Redevelopment Housing Trust Fund (Housing Fund)
The Agency has made deposits to the Housing Fund and/or direct expenditures in an amount not
less than 20 percent of the cumulative tax increment revenue allocated to the Agency from each
Project Area. The Housing Fund balance of uncommitted funds through FY 2008-09 was
$2.6 million, as shown below in Table III-7.
The Agencyplans to continue to deposit funds from its Project Areas into the Redevelopment
Housing Trust Fund. Based on the Agency's projections, the Agency estimates that the total
five-year deposit into the Housing Fund will be $76.6 million. After deducting debt obligations
and adding interest income and net proceeds from the issuance of debt instruments, the Agency
will have approximately $102.1 million available in the Housing. Fund for its Housing Program,
as shown in Table III-7 below. The Agency plans to use all of its available Housing Fund revenue
in the next five years.
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Table III.7
Agency Resources Available for Affordable Housing Activities, FY 2009-10 through FY 2013.74
Santa Monica Redevelopment Agency
1 2 3 4 5 6 7 R 9 lU
Redevelopment less: Less: Net Interest Income Net Housin Resources
Fiscal Housing Agency Housing Share Redevelopment From Line o1' Redevelopment Supplemental Total Combined
Year Trust Fund Admin" of Housing Trust Redevelopment Credit housing. Funds for Housing
Deposits Debt Obligations" Fund Deposits` Housing Proceeds Trust Funds" A}}'ordable Resources
Trust Fund° Housin (SFAIi)r
Carryover Funds
from FY 2008-09 $2,648,000 $4,084,000 $6,732,OOD
FY 2009-]0 $14,393,000 $0 $2,777,000 $11,616,000 $374,000 $31,20.4,000 $43,234,000 $5,641,000 $48,875,000
FY 2010-11 $14,899,000 $0 $7,022,000 $7,877,000 $374,000 $25,D00,000 $33,251,000 $2,411,000 $35,662,000
FY 2011-12 $15,357,000 $0 $9,014,000 $6,343,000 $374,000 $0 $6,717,000 $41,219,000 $47,936,000
FY 2012-13 $15,770,000 $0 $8,474,000 $7,296,000 $374,000 $0 $7,fi70,000 $2,672,000 $10,342,000
FY 2013-14 $16,220,000 $0 $7,970,000 $8,250,000 $374,000 $0 58,624,000 $2,730,000 $11,354,000
Total $76,639,000 $0 $35,257,000 $41,382,000 $1,870,000 $56,244,000 $102,140.,000 $58,757,000 $160,901,000
a. The Redevelopment Housing True[ 1>und does no[ wvlnbuta to Agency housing admin ousts. Nnn-housing revenues cover Ab'amy housing admin casts.
b. Includes dobt service payments for 2005 Earthquake Bands, 2002 Ocean Park Bonds and Bnnk ofAmedca line of credit.
c. Equale Redevelopment Housing Tmst Pund deposits less housing share uF debt obligations.
d. hsclndes intexes[income from Redevelopment Housing TnisrFUnd.
e. Bquals Ne sum of net Redevoloproent Housing Trust Pund deposits, interest Rom 2eUevelopment }Iousivg'Cmst Fuvd, net lino of credit proceeds wrd uncommitted Rmd bnlanco through BY 2008-2009.
These Rinds ore subject to CaliPomia Redevelopmovt Law (CRL) requixentents.
f Includes nov-Lousing lax ivcxement revenues allocated a Supplemental Ponds for Affordable Housing (SPA]"I), ns ehoxm on Tables lI-1,11-2 avd E-3. Over the next five-yeax Impleroenlotiov Plnv
paxiod, SNAH include approximately $43.6 million Rom the ERRPA, $4.6 million Rom the Downtown Projoct Ama and $10.5 mill{on from Poe Ocoun Park IA wtd IE Pmjeot Areas.
Souxce: Santa Monica Redevelopment Agency.
Santa Monica Redevelepment Agency Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2073-14 III-13 Novemher 2009
b. Supplemental Funds for Affordable Housing (SEAN)
SFAH includes all non-housing tax increment from the Ocean Park lA and 1B and Downtown
Project Areas net of administrative costs and debt repayment obligations, as well as a portion of
non-housing tax increment funds from the ERRPA. Through FY 2008-09, the SFAH balance was
$4.1 million. During this five-year Implementation Plan period, all taxinexement revenue from
the Ocean Park lA and 1B and Downtown Project Areas net of administrative costs, debt
repayment obligations, and Housing Fund deposits will be dedicated to SFAH. Additionally,
approximately $43.6 million ofnon-housing funds from the ERRPA will be designated as SFAH.
Thus, approximately $58.7 million of SFAH will be available for housing projects and activities,
as shown in Table III-7 above.
2. CRL Housing Fund Requirements
The CRL requires an agency to set aside in a separate low and moderate income housing fund
(called the Redevelopment Housing Tmst Fund or Housing Fund in Santa Monica) at least
20 percent of all tax increment revenue generated from its project areas. The funds must be used
for the purpose of increasing, improving and preserving the community's supply of affordable
housing. Such housing must be available at affordable housing cost and occupied by households
of very low, low or moderate income (Sections 33334.2 and 33334.3).
Housing assisted by Housing Fund monies must be available to very low, low and moderate
income households at an affordable housing cost in accordance with the CRL.10 For housing
assisted by Housing Fund monies after January 1, 1991, the affordable housing cost definitions
presented above in Table III-1 apply. For housing assisted by Housing Fund monies prior to
January 1, 1991, affordable housing cost is defined as rent or cost for rental or ownership housing
that does not exceed 25 percent of the household's gross income.
The CRL imposes Housing Fund expenditure requirements based on the proportion of unmet
need for housing affordable to households of very low, low and moderate incomes
(Section 33334.4(a)). dt also requires that a minimum percentage of Housing Fund expenditures
be spent on non-age restricted housing (Section 33334.4). The CRL also places other limits on the
use of Housing Fund monies, as described below in Section D.
a. Housing Fund Leveraging
The CRL prohibits agencies from using Housing Fund monies to the extent that other reasonable
means of private or commercial financing for new or substantially rehabilitated units at the same
level of affordability and quantity are reasonably available (Section 33334.3(j)). When more than
50 percent of an affordable housing development's funding is provided from the Housing Fund,
an agency must make a finding that no other private or commercial means of financing the units
at the same level of affordability and quantity could be reasonably obtained.
10 CRL Section 50052.5 includes the definition of affordable housing cost. AB 637 added the words "occupied by" to
all references in the CRL that refer to the requirement that housing units be "affordable to" very low, low and
moderate income households in order to clarify the existing law that the units required to be "available" at affordable
housing cost to qualifying households are also required to be "occupied by" such households.
Santa Monica Redevelopment Agency ~~ _ III-14 w ~ Seifel Consulting~lnc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
The Agency will use Housing Fund to leverage other funding sources devoted to the provision of
affordable housing to maximize the number of affordable units that can be developed,
substantially rehabilitated, or acquired. These other funding sources include CDBG and HOME
Investment Partnership funds from HUD, Ca1HFA, HCD, Low Income Housing Tax Credit
equity funds, and other City Housing Trust funds. Any other loans, grants or financial assistance
from any other public or private source may be utilized if available.
By combining various funding sources, and partnering and collaborating with other entities
dedicated to the preservation and development of affordable housing, the Agency is confident it
will be able to meet its affordable housing production obligations and expenditure requirements
within the ten-year compliance period, as well as over the life of the Redevelopment Plans.
b. Other Limitations on Use of Housing Fund Monies
The CRL imposes limits on the use of Housing Fund monies for the constmction of infrastructure
and public improvements (Section 33334.2(e)(2)). The conditions under which Housing Fund
monies maybe used to fund these costs aze:
• The improvements must be a reasonable and fundamental component of the new constmction
or rehabilitation of income restricted housing units that are directly benefited by the
improvements.
• A 55-year affordability control must be imposed on rental units, and a 45-year affordability
control must be imposed on owner occupied units. Covenant and deed restrictions must be
recorded with the redevelopment agency."
If the newly constructed or rehabilitated affordable units are part of a larger project such as a
mixed income or mixed use project, Housing Fund monies may only be utilized for a pro rata
share of the cost of the improvements. For mixed income residential developments, the
maximum amount is based on the ratio of the number of affordable units to the total number
of housing units. For mixed use projects, the maximum is based on the ratio of total cost of
the affordable units to the total cost of the project.
c. Use of Funds outside of Project Area
An agency can use funds outside a project area upon resolution by the agency and legislative
body that the use will be of benefit to the project (Section 33334.2(8)). If an agency has more
than one project area, it can spend housing funds from one project area in other areas, pursuant to
a resolution by the agency and legislative body that such use of the funds will benefit the project
(Section 33334.2(8)(1)). The Agency must meet these legal requirements with respect to the
expenditure of Housing Funds. Section F describes the Agency's compliance with meeting the
expenditure requirements. The City Council and Agency have approved resolutions determining
that the use of Housing Fund monies to assist housing activities located outside the Project Areas
is of benefit to the Redevelopment Programs. Thus, Housing Fund monies have been, and will be
spent both inside and outside the Project Areas.
" As of January 1, 2008, the Agency must prepare for units developed with Housing Fund assistance, a document for
each price-restricted unit entitled "Notice of Affordability Restrictions on Transfer of Property" containing a
recitation of the affordability covenants or restrictions; the date the covenants or restrictions expire; the street address,
assessor's parcel number and legal description of the property; and record the unit with the County recorder pursuant
Section 33334.4(f)(3)(B).
Santa Monica Redevelopment Agency Ill-15 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
d. Housing Fund Expenditure Targeting
Housing Fund monies must be used to assist housing for persons of very low and low income in
at least the same proportion as the total number of housing units needed for each of these income
groups in the community bears to the total number of units needed for very low, low, and
moderate income groups within the community. The Agency plans to target its Housing Fund
expenditures for specific income groups as required by the CRL.
D. Affordable Housing Program
Agencies are required to prepaze a Housing Program with estimates of the number of new,
rehabilitated, or price restricted affordable housing units to be assisted during each of the five
years in the Implementation Plan period. The Housing Program must also include estimates of
expenditures of monies from the Housing Fund during each of the five years. Finally, it must
include a description of how it will implement the expenditure requirements over the ten year
compliance period.
Goals and Objectives
During the five-year Implementation Plan period, the Agency will concentrate on housing
activities that are most applicable to the Agency's goals and objectives. In developing its
affordable Housing Program, the Agency has been guided by the goals and objectives of the
City's Housing Element and the Consolidated Plan, both of which are incorporated into this
Implementation Plan by this reference. Through its affordable housing activities, the Agency will
support and advance the overall Housing Element programs as well as contribute to the
implementation of the policies and strategies identified in the City's Consolidated Plan."- The
Agency is committed to assisting the City in achieving the goals and objectives and policies
presented in the Housing Element and the Ciry's Consolidated Plan, including:
• Promote the construction of new housing within the City's regulatory framework.
• Encourage the production of housing for all income categories including housing for the
community's workforce.
• Protect the existing supply of affordable housing.
• Promote the rehabilitation and continued maintenance of existing housing.
• Provide housing assistance and supportive services to very low, low and moderate income
households and households with special needs including homeless.
• Eliminate discrimination in the rental or sale or housing on the basis of race, religion, national
origin, sex, sexual orientation, age, disability, family status, AIDS, or other such
characteristics.
• Promote quality housing and neighborhoods.
Promote the participation of citizens, community groups, and governmental agencies in
housing and community development activities.
12 The parts of the Implementation Plan that address the affordable housing requirements must be adopted every five
yeazs either in conjunction with the community's housing element cycle or the implementation plan cycle
(Section 33490(a)(1)(A)).
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Santa Monica Redevelopment Agency III lg Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
As discussed above, the Agency has been guided by the Housing Element's goals and objectives
in developing its affordable Housing Program. Therefore, the Agency will use redevelopment
funds for housing developments and activities to assist in the production of housing affordable to
very low, low and moderate income households. The goal of the Housing Program is to increase
and improve the supply of affordable housing to very low, low and moderate income households,
and preserve the existing stock of affordable housing in the ERRPA and the City as a whole.
The Agency recognizes the important role of the Housing Program and its activities in its overall
Redevelopment Program. Consequently, the proposed Housing Program should be viewed not
simply as the means of implementing the Agency's stated goals and objectives related to
affordable housing, but as a key element in its overall blight alleviation and revitalization efforts.
2. Agency Financial and Technical Assistance
The Agency intends to implement its Housing Program through the provision of financial and
technical assistance for housing that may include, but will not be limited to, new construction of
rental and ownership housing, and substantial rehabilitation of affordable housing units. Private
and nonprofit developers maybe assisted with land write-downs, predevelopment loans,
development subsidies or land leases. Affordability will be enforced through deed restrictions and
language incorporated into loan and lease documents.
The Agency's housing resources will be used in a flexible manner to respond to favorable
opportunities for development, substantial rehabilitation and affordability covenant acquisition.
The type of fmancial assistance to be provided may include cost write-down and gap fmancing
for projects utilizing federal and state funds, as well as loans for property acquisition,
development, renovation, on- and off-site improvements, predevelopment costs and development
fees. In carrying out its purpose to preserve, improve and increase the affordable housing supply,
the Agency may use the following methods:
• Acquire land or building sites.
• Improve land or building sites with on-site or off-site improvements.
• Donate land to private or public persons or entities.
• Finance insurance premiums pursuant to CRL Section 33136.
• Constmct buildings or structures.
• Provide subsidies to, or for the benefit of, persons or families of very low, low, or moderate
income.
• Develop plans, pay principal and interest on bonds, loans, advances or other indebtedness, or
pay financing or carrying charges.
• Require the integration of affordable housing sites with sites developed for market rate
housing.
• Assist the development of housing by developers.
3. Specific Housing Activities FY 2009.10 through FY 2013-14
Over the five-year period, the Agency expects to fund a number of new construction
developments aimed at very low, low ormoderate income homeowners and renters as well as
acquisition/xehabilitation projects. Some examples of future projects that will likely receive
Housing Fund assistance over the next five years are discussed below.
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Santa Monica Redevelopment Agency III-17 ~ Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
a. Agency Assistance to New Construction of Affordable Units
The Agency anticipates that it will provide assistance for the following newly constructed
affordable housing developments:
430 Pico Boulevard: Approximately 32 units, available to low income households. The Agency
provided a $3.7 million acquisition/predevelopment loan to support this project. The full extent of
Agency assistance will not be determined until the design and financial planning are complete.
Construction estimated to stazt fall 2010, with completion in summer 2012.
1458 14th Street: Agency assistance of $5.2 million to fund the construction of 19 one-bedroom
units available to senior households. Affordability levels: 2 units are targeted to extremely low,
2 to very-low, and 15 to low income. The project is anticipated to be completed by
December 2009.
1700 Main Street, (Civic Center Village): On June 10, 2008, the Agency approved the
Disposition and Development Agreement with the Related Companies for the development of the
Civic Center Village, amixed-use housing development on approximately 3.7 acres, in the heart
of the city's Civic Center. The Village project will enhance the Civic Center area with 325
residences, of which 160 will be affordable to low income households, including families and
artists; public open space; an extension of Olympic Drive; public art and sustainable design. The
project is scheduled to commence construction in summer 2010. The Agency will contribute
$23.8 million toward the affordable housing portion of this mixed-use development. Of the total
Agency contribution, $4.8 million will be revenues from the Housing Fund to assist the
development of 58 very low income and 100 moderate income rental units.
1924 & 1930 Euclid, 1753 18th St & 1754 19th Street (FAME Development): Agency
assistance of $6.7 million to fund the acquisition and new construction of approximately 25 units
targeted to very low and 24 units targeted to low income. Units will be available to senior
households. The development will create much-needed senior efficiencies and help support
Housing Element goals (2g) to facilitate development and maintenance of special needs housing.
Developer proposes to obtain tax credits and bank financing complete azchitectural design, and
undergo plan check over the course of the next 12 months. The target construction start date is
Apri12010.
1943-59 High Place East: The Agency expects to contribute $14.5 million of Rousing Fund
revenues to this development, which will include 45 ownership units affordable to moderate
income households. (Agency provided $3.1 million in assistance in prior five-year period.)
2602 Broadway: Agency assistance for this development of approximately 33 units tazgeted to
very low and low income households includes $6.6 million acquisition/predevelopment loan. The
extent of the Agency's full assistance will not be determined until the design and financing plans
are complete. Land was acquired in January 2009, and construction is estimated to start in fall
2010, with completion in summer 2012.
2802 Pico Boulevard: Land was acquired for the construction of 2802 Pico Boulevard in
February 2009 with the help of a $5.6 million loan from the Agency for the property purchase,
holding costs and design of the project. The total amount of Agency assistance will not be
determined untilpxoject planning is more advanced. Construction of the approximately 33 units
affordable to very low and low income households is estimated to start fa112010, with completion
in summer 2012.
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Santa Monica Redevelopment Agency Ill 18 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
b. Agency Assisted for Acquisition and Rehabilitation of Affordable Housing
The Agency anticipates that it may provide assistance for the acquisition and rehabilitation of
existing housing if opportunities arise.
c. Other Agency Assistance
In addition to assistance for new developments and the acquisition and rehabilitation of existing
developments, the Agency will provide the following assistance:
1930 Stewart (Mountain View MobIle Home Park): Mountain View was built in the eazly
1950s as a mobile home park. In FY 2000-O1, the Agency provided partial funding for the City to
purchase Mountain View and 36 mobile homes to preserve the property for affordable housing as
part of a legal settlement with the prior owner. In FY 2006-07, the City initiated efforts to address
needs for new sewer and water lines, new concrete slab, new framing of structural members and
bearing walls, new electrical, new drywall and flooring and new bathrooms that will meet
Americans with Disabilities Act (ADA) requirements, as well as reconfiguration of the existing
105 unit mobile home park, establishment of lots lines for individual spaces as part of a
repair-replacement plan for on-site utilities, and installation of 8 mobile home units. Construction
bids and selection of contractor was completed in FY 2007-08. Construction commenced in
Spring 2008 and is anticipated to be completed by Fa112009.
Senior Homeless Prevention and Rental Assistance Program: Beginning in the FY 2006-07
Budget, Council authorized an allocation of $1.34 million from the Housing Fund, with annual
deposits in following fiscal yeazs, to fund rental assistance for very-low income homeless seniors,
55 years old and older, who have participated, for a minimum of one year, in a case management
program, including the Chronic Homeless Program. The Senior Homeless Prevention and Rental
Assistance Program provides one-time $2,000 homelessness prevention grants to Santa Monica
households headed by someone 55 years old and older, which are in imminent danger of
becoming homeless. Participants are required to receive case management services in order to be
eligible for the program. The program will continue to utilize inter-agency and inter-divisional
resources in the Chronic Homeless Program to refer applicants for services. Since its inception,
71 senior households have been assisted by this program, receiving RDA senior rental assistance.
175 Ocean Park Boulevard: The Agency continues to fulfill its lease payment obligations to
maintain 22 housing units for very low income senior and family households. The lease payment
is made by the Agency on behalf of the 175 Ocean Pazk Boulevard public housing development
operated by the County of Los Angeles. This has been an ongoing activity of the Redevelopment
Agency for many years.
4. Estimated Housing Fund Expenditures FY 2009-10 through 2013-14
Table III-8 presents the Agency's estimated Housing Fund expenditures for each of the five years
in the Implementation Plan period. The Agency estimates Housing Fund expenditures of
approximately $102.1 million for housing activities during the next five yeazs. Projected revenues
will be sufficient to cover the Agency's planned expenditures for housing projects and activities
over the next five years.
The Agency plans to target its Housing Fund for specific income groups and non-age restricted
housing as required by the CRL. These targeting requirements are discussed below. The Agency
will make every effort to encourage the development of housing affordable to a variety of income
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Santa Monica Redevelopment Agency 111.19 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
levels and needs. By combining various funding sources, and in partnership and collaboration
with others dedicated to the development of affordable housing, the Agency is confident it will be
able to meet its housing production obligations over the life of the Redevelopment Plan.
It should be noted, however, that several factors may result in expenditures and unit production
for given yeazs being either less than or greater than what is projected. These factors include the
timing of the development process, the levels of Housing Fund revenue and other public
assistance, the need to amass sufficient funds for an efficiently sized development, and
development opportunities.
a. Housing Fund Income Targeting
Housing Fund monies must be used to assist housing for persons of very low and low income in
at least the same proportion as the total number of housing units needed for each of these income
groups in the community beazs to the total number of units needed for very low, low, and
moderate income groups within the community. The CRL requires that the Agency use Southern
California Association of Governments (SCAG) 2006-2014 Regional Housing Needs Allocation
(RHNA) figures for detemuning its proportionate spending on housing for very low, and low
income groups in the community. Therefore, the proportion of Agency expenditures required for
very low and low income housing units is determined by dividing the number of housing units
needed for very low income and low income households, respectively, (as calculated by SCAG)
by the total number of units needed for very low, low and moderate income households within the
community (as calculated by SCAG) (Section 33334.4). The Agency's proportionate income
targeting obligation must be met over the ten yeaz compliance period. However, the initial period
for meeting this requirement will be January 1, 2002, the date the targeting requirements became
effective, through the ten-year compliance period ending on December 31, 2014
(Section 3349o(a)(2)(A)(iii)).
Under the CRL, an agency is allowed to reduce its income targeting requirement if other locally
controlled funds are used to produce newly constructed housing for the targeted incomes, as long
as such units are produced without any agency assistance and their continued affordability is
ensured through long term affordability covenants (45 years for owner occupied and 55 years for
rental). An agency may adjusTthe income targeting proportion by subtracting from the need
identified for each income category, the number of units for persons of that income category that
are newly constructed with other locally controlled government assistance over the duration of
the implementation plan. However, an agency cannot subtract units developed pursuant to a
replacement-housing obligation under federal or state law (Section 33334.4(a)). Locally
controlled means government assistance where the local government entity has discretion and
authority to determine the recipient and the amount of assistance (Section 33334.4). Examples of
such funding are CDBG, HOME Investment Partnership Program, and fees received by a city
pursuant to acity-authorized program. Pursuant to these requirements, Table III-8, below, shows
the Agency's proportionate spending requirements for housing affordable to persons at or below
120 percent of median income, including the adjustment for units produced with locally
controlled funds. Table III-14, below, displays housing units produced with locally controlled
funds by income level. As described above, these developments allow for reductions in the
Agency's targeting.
Santa Monica Redevelopment Agency III-20 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Table III.B
Affordable Housing to be Assisted with Housing Fund Revenues
FY 2009.10 through FY 2013.14
Santa Monica Redevelopment Agency
Number of Units" Honsin Fund Lx enditures
Low Low Moderate Totnl Re tncted FY 2009-10 FY 2010-11 FY 20]1-12 FY 2012-13 FY 2013-]4 Total
0
1 Sth, & ] 754 19th (FAME
1700 Main
4
Affordable Housing.
pmcnts and Activities"
45
a. The total number of horsing Waits assisted with Horsing Pund revenues, as shown in this table, differs from the number ofhonsing units counted toward the affordable horsing production requirement
shown in Table 111-4. Table lll-4 includes affordable housing produced with and without Horsing Fund assistance, and also includes affordable housing produced outside oftha ERRPA on a lfm' 2 bxeis.
b. Affordable housing developments and activities receiving Houeing Fund assistance over the next Eve-year Implementation Plan period ihathave no0 yet been ideuuifred. Expenditures will be made such thou nre
Agency meets CRL income and age targeting requirements (75 percent of 555.1 million to be expended on very low income housing, and 25 percent to be expended on ]ow income housing).
Source: Santa Monica Redevelopment Agency, Seifel Consulting lne.
Santa Monica Redevelopment Agency III-21 Seitel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Table III-9
Redevelopment Housing Trust Fund Expenditure
Percentage Targeting by income Category
Santa Monica Redevelopment Agency
Housing
Expenditure Unit Adjustment Adjusted
Adjusted Expenditure
Units Percentage Targeting for Locally Housing Units Percentage Targeting
Income Grou Needed' b Income Level Controlled Funds" Needed` b Income Level
Very Low (0-50%AMI) 164 At least 43% 60 104 At least 35%
Low (51-80 %AMI) 106 At least 28 % 31 75 At least 26%
Moderate 81-120% ArVII 114 No more than 30% 0 I l4 No more than 39%
Total 384 100% ``v~`x~~jn~~\~~?•;1„?`,.say\~ti*' 293 100%
a. Based on SCAG's 2006-2014 Re, onal Housing Needs Assessment.
6. Based on vumber ofunits produced in the ERRPA usivg locally-controlled funds and without Agency assistance.
c. According to CRL Sectiov 33334.4, the Agency may adjust its Housing Fund targeting obligations to account for housing units built using
locally-controlled funds and without Agency assistance.
Source: Santa Movica Redevelopment Agency; SCAG Adopted Regional Housivg Needs Assessment, 2006-2014; Seifel Consulting Inc
Table III-9 outlines the Agency's income taggeting obligations based on Santa Monica's RFINA
allocation, adjusted for the number of newly constructed very low and low income housing units
produced with locally controlled funds and without Agency assistance. The adjustment reduces
the number of very low and low income units used to calculate the income targeting percentages
by 60 very low income units and 31 low income units, based on two projects completed with
locally controlled funds and without Agency assistance listed on Table III-14.
With the adjustment to the RHNA numbers, the Agency is required to expend Housing Fund
monies in the following proportions: at least 35 percent for units affordable to very low income
households, at least 26 percent for units affordable to very low and low income households, and
no more than 39 percent on housing affordable to moderate income households. However, the
Agency is entitled to expend a disproportionate amount of the funds for very low income
households, and to subtract a commensurate amount from the low and/or moderate income
thresholds, as long as it spends the minimum amount required for very low income households
and no more than the maximum amount allowed for moderate income households.
The Agency plans to target its Housing Fund monies to specific income groups in the proportions
shown in Table III-9. As shown in Table III-10 below, from January 1, 2002 through
June 30, 2009 the Agency has spent 26 percent of its Housing Fund revenues on very low income
units, 68 percent on low income units and 6 percent on moderate income units. In order to meet
its targeting obligation described above, the Agency must target its expenditures over the next
five years in the following proportions: at least 44 percent on very low income units and no more
than 56 percent on low and moderate income units combined. The Agency will monitor its
Housing Fund expenditures with reference to the relative percentages of need demonstrated by
each income category, will conduct periodic reviews of expenditures, and will consider
adjustments to expenditures as needed. The Agency anticipates it will meet its very low, low and
moderate income targeting requirements for the ten-year compliance period ending on
December 31, 2014.
Santa Monica Redevelopment Agency III-22 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Table III.10
Low and Moderate Income Housing Fund Expenditures
Expenditure Targeted by Income 11112002-12/31/2014
Santa Monica Redevelopment Agency
1/1/2002/302009
Actual 7/1/2009-12/31/2014
x ected
Over Com Hance Period`
Income Tar etin LMIHF
E enditures" percent
Tar eted L!VIIHIt
Ec enditures" Percent
Tar eted LN[IIII7
Ex enditures Percent
Tar eted
Ve Low $24218,000 26% $45278,000 44°/a $69,496000 35%
Low $64,079,000 68% $39,306000 38% $103385000 53%
Moderate $5,351000 6% $17,560,000 17% $22911000 12%
Total $93 64S 000 100 % $102144 000 100% $195 792 000 100
a. Agency expendiures detailed in Table III-13 plus $1.34 million expended in FY 2006-07 far Senior Homeless Prevention and Rental
Assistance Program to assist very low inwme seniors.
b. Projected Agency expenditures detailed in Table nI-8.
c. January 1, 2002 to December 31, 2014 is the first compliance period far meeting Housing Fund expenditure tazgeting obligations,
as required by CRL Section 33334.4
Note: Numbers rounded to the nearest thousand
Source: Santa Monica Redevelopment Agency, Seifel Consulting Inc.
b. Housing Fund Assistance for Non-Age Restricted Housing
In addition to the requirement outlined above, as of January 1, 2002, a defined minimum
percentage of Housing Fund moneys must be spent on housing available to all persons regardless
of age. In 2005, the state legislature amended the method of determining the minimum percentage
of Housing Fund moneys spent on non age-restricted housing. This minimum is equal to the
percentage of Santa Monica's low income households with a member under age 65, as reported in
the most recent US Census. The 2000 Census indicates that 76 percent of the City's low income
households have a householder under 65 years of age as shown in Table III-11.'s Thus, the
Agency must expend at least 76 percent of its funds on housing that does not impose age
restrictions on residents. This requirement must be achieved over the period between
January 1, 2002 and the compliance period ending on December 31, 2014 and over the life of the
Redevelopment Plan.
's The Census does not report low income household information according to the age of household members, but
rather identifies households by the age of the householder. Therefore, this will be used as a proxy for low income
households with a member under age 65.
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Santa Monica Redevelopment Agency III 23 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Table 111.11
Housing Fund Expenditure Requirement
Non Age-Restricted Housing
Santa Monica Redevelopment Agency
A e Tar etin ° Low Income
Householde6
Ex enditure Percents e
With Householder under 65 17 872 76°/n minimum ex enditures
With Householder 65 and over 5 696 24°/n maximum ex enditures
Total 23 568 100%
a. Based on Census data showing low-income households by householder age.
Data is not available for low-income households by household members' ages.
b. Three-person households with incomes of less than $45,200
(HCD limit published in 2000 defined as "lower income").
Source: 2000 US Census, HCD Income Limits 2000, Seifel Consulting Inc.
The Agency plans to target Housing Fund expenditures to provide affordable housing that is not
restricted by age. Specifically, at least 91 percent of Housing Fund monies is planned to be spent
on non-age restricted housing over the period between January 1, 2002 and the compliance period
ending on December 31, 2014, as shown below in Table III-12. The Agency will continue to
monitor Housing Fund expenditures in order to comply with the requirement for minimum
Housing Fund expenditures on non-age restricted housing.
Table III.12
Low and Moderate Income Housing Fund Expenditures
Targeted Non Age-Restricted Housing 11112002-613012014
Santa Monica Redevelopment Agency
1/1/2002-6/30/2009
Actual' 7/1/2009-12/31/2014
ected "
Over Com fiance Period`
A e Tar etin LMIHF
Ex enditures Percent
Tar eted LMIHF
Ex enditures Percent
Tar eted LMIHF
Ex enditures Percent
Tar eted
Non-a erestricted housin $80,392000 86% $99860000 98% $180,252000 92%
Age-restricted housing $ 13,256,000 14% $2,284000 2% $15,540,000 8%
Total $93 648 000 100°/ $102 144 000 100°/ $195 792 000 100°
a. Agency expenditures detailed in Table III-13 plus $134 million expended in FY 2006-07 for Senior Homeless Prevention
and Rental Assistance Program to assist very low income seniors.
b. Projected Agency expenditures detailed in Table ]II-8.
c. January 1, 2002 to December 31, 2014 is the first comphance period For meeting Housing Fund expenditure targeting
obligations, as required by CRL Section 33334.4
Note: Numbers rounded to the nearest tlrousand.
Sonme: Sams Monica Redevelopment Agency, Seifel Consulting Inc.
Santa Monica Redevelopment Agency III-24 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
E. Agency Affordable Housing Activities over the Previous
Implementation Plan Period
This section discusses the Agency's affordable housing activities over the previous five-year
Implementation Plan period; including descriptions of housing projects assisted with Agency
resources are described. The CRL requires that the Agency report certain expenditures and details
of affordable housing produced during the previous five-year Implementation Plan period. These
requirements are described and addressed below.
Housing Program Accomplishments
During the previous Implementation Plan period, the Agency used Housing Fund and other
resources to assist in the development of both rental and ownership affordable housing for a
vaziety of household with a range of different sizes and needs, along with a spectrum of
affordability. Some examples of projects developed with Agency assistance include:
a. Acquisition and Rehabilitation of Affordable Rental Housing
Rehabilitation improvements typically include repair or replacement of roofs, gutters, doors,
windows, handrails/guardrails, signs, cabinets, floorings, water heaters, plumbing and electrical
upgrades, termite damage, and new paint. Collectively, these properties now represent 122
affordable units for low and moderate income households preserved for a minimum of 55 years.
2211 4th St: At 2211 4th St, the Agency provided funding for the acquisition and rehabilitation
of 22 (2 two-bedroom and 20 one-bedroom) units restricted to households earning 60% or less of
AMI in FY 2006-07. This project was completed in FY 2008-09.
2900 4th St: Funding for the acquisition and rehabilitation of this project was authorized by
Agency in FY 2006-07. Rehabilitation work was completed in FY 2007-08. This project provides
19 (2 three-bedroom, 9two-bedroom, and 8one-bedroom) units affordable to low income
households.
1944 20th Street: Agency provided funding for the acquisition and rehabilitation of 8
three-bedroom units suitable for large families at very-low and low income levels in FY 2005-06.
2624 Santa Monica Blvd: Redevelopment funds were provided in FY 2007-08 to fund
acquisition costs and a portion of rehabilitation costs. The property is a two-story motel
containing 7 single-room units and aone-bedroom manager's unit. This project was completed in
FY 2008-09. The non-profit organization Step Up on Second operates the units as permanent
supportive housing for very low income young adults who aze experiencing their first episodes of
mental illness.
b. Agency Assisted -New Construction Affordable Units
New construction of affordable units is critical to both the expansion of housing opportunity and
the maintenance of the community's supply of affordable housing. Collectively, these properties
will ultimately house 497 affordable units for low and moderate income households, preserved
for a minimum of 55 years.
_..w. - ___~ _--_-..~ ..m ~ e. -.. __. M.. ~. _... ... _ .. --.. ,_ ~ .. ~-_.-.w°°
Santa Monica Redevelopment Agency III 25 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
1548 5th Street: The Agency provided assistance in FY 2004-OS for acquisition and
predevelopment costs, the permanent loan closed in FY 2007-08. The project, completed in FY
2008-09, provides 44 single room occupancy (SRO) units affordable to very-low income
households and available to mentally disabled and homeless persons.
145814th Street: In FY 2006-07, the Agency assisted with the acquisition of this property and in
FY 2007-08 provided funds to help with its construction. The project will add approximately 19
one-bedroom apartment units to the community, affordable to very-low and low- income senior
citizen households. Construction commenced in FY 2008-09 and will be completed in
FY 2009-10.
1349 26th Street-2601 Santa Monica Boulevard: Agency provided assistance in FY 2002-03
for acquisition and additional funds for construction. This project was completed in FY 2006-07
and fully leased in August 2007, providing 44 units affordable to households of very-low and low
income (15 units are three-bedroom and 29 are two-bedroom).
1424 Broadway (1512 15th Street): The Agency supported this project by providing funds in
FY 2002-03 for acquisition. Completed in FY 2006-07, this project provides 25 two-bedroom and
16 three-bedroom units for households at very-low and low income.
2411-23 Centinela Avenue: In FY 2006-07, loan ahd conditional grant documents were executed
for the construction and permanent fmancing of 36 rental units affordable to very-low and
low income households. This project was completed in FY 2008-09.
1751 Cloverfield Boulevard: The Agency assisted this adaptive re-use project by providing
funding to Ocean Park Community Center (OPCC) to acquire the property in FY 2003-04; OPCC
conveyed title to the property to the Agency and upon conveyance, the Agency leased the
property to OPCC for a term of 55 years. In exchange for providing a 55-year lease, OPCC has
executed a covenant to use the property solely for affordable housing. Ocean Park Community
Center ("OPCC") opened its new Cloverfield Services Center in November 2006, providing
housing to 55 homeless men and women.
2. Compliance Requirements in CRL Section 33490(a)(2)(C)(iv)
CRL Section 33490(a)(2)(C)(iv) requires agencies report the amounts of Low and Moderate
Income Housing Fund moneys utilized to assist units affordable to, and occupied by, extremely
low income, very low income and low income households during the previous Implementation
Plan period. In addition, agencies must indicate the number, location and level of affordability of
units newly constructed with other locally controlled governmental assistance (but without
Agency assistance). Finally, agencies must also report on the amount of Housing Fund moneys
utilized to assist housing units not restricted to seniors (non-age restricted housing), and the
number, location, and level of affordability of those units.
During the previous Implementation Plan period the Agency did not spend any revenues from the
Housing Fund to support housing for extremely low income households, and spent $24.2 million
for very low income households and $64.1 million for low income households, as shown above in
Table III-10. The number, location and level of affordability of units constructed with Housing
Fund assistance during the previous Implementation Period aze shown in Table III-13.
Table III-14 shows the number of affordable housing units constmcted with other (non-Agency)
locally controlled governmental assistance and without Agency assistance during the previous
Santa Monica Redevelopment Agency III-26 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Implementation Plan period. Roughly $80.4 million was spent during the previous
Implementation Plan period to support non age restricted housing, as shown in Table III-12 and
the number, location, and level of affordability of those units are shown in Table III-13.
Santa Monica Redevelopment Agency III-27 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November 2009
Table III.13
Affordable Housing Assisted with Housing Fund Revenues
11112002.1 213112 0 0 9
Santa Monica Redevelopment Agency
Number of Units"
Location
New Construction ICxtremely
Low"
~ gory
Low
~
Low
~
Moderate
Total Non Age-
Restricted° project
Completed
Housing Fund Ltzpendituros
~
1751 Cloverfield 0 55 0 0 55 55 x $4,703 405
1424 Broadwa 0 34 7 0 41 41 x $2 900 000
.1548 5th Street 0 44 0 2 46 46 x $5 870 000
1349 26th Street 0 3G 8 0 44 44 x $1 450 000
2411-23 Cen[inela Ave 0 ]8 t8 0 36 36 x $3417145
1943-59 Hi h Place East 0 0 0 45 45 45 $3 095 000
1458 ]4th 0 14 5 0 ]9 0 $5 207 314
2602 Broadwa 0 0 33 0 33 33 $5 313 803
1924 & 1930 Euclid, 1573
18th, & 1754 19th (FAME
Pro'ect)
0
25
24
0
49
0
$6,708 407
430 Pico 0 0 32 0 32 32 $3 720 204
2802 Pico 0 0 33 0 33 33 $5 595 897
Subtotal
8i nifioant Rehabilitation
914 4th 0
~,~, ,,;
0 226
" ;; ,,
0 160
,..
16 ~~~~ 47
~..,~,
0 433
c,
16 365
.,
16 "~"
,;: .~„
...._r.
x $47,981775
„ '. ~,,;.., ~ ,.
° _ ,,,
$6,478 726
2211 4th 0 0 22 0 22 22 x $6 782 455
2900 4th 0 0 l9 0 19 19 x $5 867 993
24186th 0 0 6 0 6 6 x $1,818818
194420th 0 0 8 0 8 R x $3,010789
2029-31 20th 0 0 12 0 12 12 x $4 517 723
1438 25th 0 0 12 0 12 12 x $4 656 (i64
232034th 0 0 6 0 6 6 x $130127.7
1513 Centinela 0 0 8 0 ft 8 x $3,112 089
844 Linconln 0 0 10 0 ]0 10 $3 673 362
750-752 Maxine 0 0 0 8 8 R x $2 000 800
1930 Stewart 0 0 105 0 ]06 105 x $1106059
Subrotad 0 0 224 8 232 232 $44326,685
Total 0 226 384 55 665 597 $92 307 860
a. The unite reported in [his fable serve to meet [hc reporting requirements for bnplemental'ionP1ans pursuant CRL Section 33490(a)(2)(C)(iv). The number of
non age-restricted housing units serves as a proxy £or "housing units available to families with children" The reponing mquitement is for the previous
Implementation Plau period, but since the expendihue requirements extend bank to January 1, 2002 for [he first ]0-yoaz' compliance period, this table shows
the expenditures since that data.
Source: Santa Monica Redevelopmene Agency, Seifel Consulting Inc.
Santa Monica Redevelopment Agency - III-23 Seifel Consulting Inc.
Five Year Implementation Plan FY 2009-10-FY 2013-14 November2009