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sr-022812-4a"_ City of City Council Report Santa Meaiea City Council Meeting: February 28, 2012 Agenda Item: -°� To: Mayor and City Council From: Andy Agle, Director of Housing and Economic Development Subject: Housing Needs Study Session Recommended Action Staff recommends that the City Council review and provide direction on issues relating to the continued provision of housing in Santa Monica, including direction on the policy issues and trade -offs identified in the report. Executive Summary This study session report is intended to provide the City Council with current information about housing in Santa Monica, including existing resources, current needs, and trends. This report also suggests key policy considerations related to housing in Santa Monica, including desirable typologies for future housing, moderate - income housing needs, and affordable housing as a community benefit of development. Background For many decades, a majority of Santa Monica residents have resided in small households in rental housing. With the adoption of rent control in 1979, a large portion of Santa Monica's rental housing stock was affordable to people with a diversity of incomes. Since the implementation of state - mandated vacancy decontrol in 1999, over sixty percent of rent - controlled apartments have been rented at stabilized market rates. In addition to rent control, Santa Monica has an extensive history that prioritizes affordable housing to preserve and promote a diverse and sustainable community. Residents have affirmed this priority in local voter - approved initiatives, such as Proposition R (1990), requiring that 30 percent of all new multifamily housing be affordable, and Proposition 1 (1998), authorizing the City to participate financially in creating affordable housing equal to one -half of one percent of the housing stock annually (approximately 250 residences). A third local initiative, the Tenant Ownership 1 Rights Charter Amendment (TORCA; 2002), directed that condominium conversion fees be used for affordable housing. City Council has further facilitated affordable housing through adoption of land use incentives and administrative funding guidelines to streamline affordable housing production and preservation, based on a policy foundation supporting affordable housing in the General Plan Land Use and Housing Elements. The Land Use Element also identifies affordable housing as a primary community benefit in new development. The Affordable Housing Production Program (AHPP) requires developers of multi - family housing to contribute to affordable housing production through a flexible framework to help the City meet its affordable housing goals. Finally, City Council has approved a local preference policy that prioritizes affordable housing opportunities for Santa Monica residents and workers. Demographic Trends Demographic information for Santa Monica indicates the population is aging somewhat and becoming more affluent. From 1990 to 2010, census data indicates that the median age increased from 37.9 to 40.4 years, much higher than the Los Angeles County median age (30.7 to 34.8, respectively). Also, while the young adult (25 -44 years) population is decreasing, the middle age (45 -64 years) population is increasing (other age groups, such as school age, college age and seniors are fairly stable). The average household size of 1.8 persons has remained constant since 1990. Median household income rose from $36,000 to $68,842 between 1990 and 2010. Adjusted for inflation (70 percent inflation since 1990), the 1990 median income would be $61,200, demonstrating moderate real growth (approximately 12.5 percent over 20 years) in median incomes. Seniors represent 15 percent of current Santa Monica residents and 16 percent of current residents are persons living with disabilities. Housing Stock According to the 2010 census, there are a total of 50,912 housing units in Santa Monica, of which 71 percent are in multifamily buildings. The American Community Survey provides further information about the type of multifamily rental units in Santa Monica, as follows: 2 Multifamily Housing # of Bedrooms Units Studio 10% One Bedroom 47% Two Bedrooms 35% Three or More Bedrooms 8% Comparing the housing stock to Santa Monica's demographic information shows a predominance of smaller households and multifamily residences of two bedrooms or fewer to accommodate the smaller households. Regarding affordable housing, there are currently 3,764 residences specifically affordable for very low -, low -, and moderate - income households (seven percent of multifamily units), with 675 more in the pipeline (either in construction or with zoning approvals) for a total of 4,439 residences. Forty -five percent of the existing and pipeline residences are for very low- income households, 36 percent for low- income households and 19 percent for moderate - income households. More than two- thirds of these are zero - bedroom and one - bedroom apartments, with the balance comprising mostly two - bedroom apartments. The following tables summarize the portfolio of affordable housing in Santa Monica: Affordable Housing Stock Characteristics Table 1 Table 2 Income Level Unit Size Very Low Low Moderate; 0 -Bdrm` 1 =Bdrm 2 -Bdrm 3 -Bdrm 4 -Bdrm' 45% 36% 19% 23% 46% 20% 1 11% 0 %* Less than %z of 1% The 4,439 affordable residences (completed and in pipeline) are generated through public subsidies, regulatory approaches (such as the AHPP), or development agreements. Approximately two- thirds of these received City financing and were developed by nonprofit housing organizations, while the other one -third was built by for- 3 profit developers in concert with the development of market -rate housing. Recently, several for - profit buildings have been constructed with studio apartments targeted to moderate - income households ($60,000- $68,000 per year for one- to two - person households) with rents of approximately $1,495 per month. Rental Assistance Programs Section 8 Housing Choice Vouchers, Shelter Plus Care vouchers, and HOME Tenant - Based Rental Assistance vouchers are an important means by which affordable rental housing is made available in Santa Monica. The City's Housing Authority currently administers more than 1,400 vouchers that are funded primarily by the federal government, with 82 of the vouchers dedicated to low- income seniors and previously funded by redevelopment tax increment. Included in the 1,400 vouchers administered by the Housing Authority are also vouchers specifically for formerly homeless and special needs households. Each voucher provides direct rental payment assistance to fill the gap between what a tenant can afford to pay and the actual rent charged. A major challenge of the voucher program is that participants must find landlords willing to accept the voucher program's allowable rent payment maximums (established by household size and unit size). Unfortunately, market rents in Santa Monica typically exceed the allowed payment maximums. This situation limits the opportunities for program participants, other than in deed - restricted affordable housing which is already subject to rent limits. In this instance, renting to a voucher household may be financially advantageous if the payment standard is higher than the deed - restricted rent limit. Approximately 300 rental voucher households are currently residing in buildings that are also deed - restricted as affordable housing. SCAG Determination of Housing Needs Housing need is also projected by the Southern California Association of Governments (SCAG) and through the periodic Regional Housing Needs Allocation process (RHNA). Through the RHNA process, SCAG distributes regional housing demand among all cities within its jurisdiction, in the categories of very-low, low -, moderate -, and above- moderate - income housing. These housing targets must be addressed in each city's 4 Housing Element, and the next required update is due in 2013. SCAG's draft housing need allocation for Santa Monica currently circulating for public comment indicates that Santa Monica should demonstrate adequate sites to accommodate 1,674 housing units during the next Housing Element cycle (2014- 2021), with 691 of these affordable to very low- and low- income households. Housing Pipeline Exhibit A lists housing developments that are in construction, have received approvals, or are in the planning stages in Santa Monica. Recognizing that all currently proposed projects may not ultimately be built, the data demonstrates general trends regarding affordable and market -rate housing planned for Santa Monica. The data shows development proposals involving more than 2,600 proposed residences, in addition to nearly 1,000 residences that are under construction and another 381 residences that have been approved for development. The bedroom breakdown of pipeline housing is summarized below. As several of the pipeline projects are in preliminary stages and have yet to define the exact number of residences and associated bedrooms, their bedroom make -up is not included in the percentages. The pipeline data shows that housing that is under construction will provide a greater percentage of three - bedroom units and fewer studios and one - bedroom units relative to Santa Monica's current multifamily housing stock. The "under construction" numbers are likely skewed by the Civic Center Village and four low- income residential 9 Pipeline Residential Development Number of Bedrooms Units 0 1 2 3 Under Construction 963 7% 36% 38% 18% Approved 381 24% 34% 37% 6% Pending Approvals 2650 30% 44% 23% 2% TOTAL 3994 23% 44% 23% 2% The pipeline data shows that housing that is under construction will provide a greater percentage of three - bedroom units and fewer studios and one - bedroom units relative to Santa Monica's current multifamily housing stock. The "under construction" numbers are likely skewed by the Civic Center Village and four low- income residential 9 developments which emphasize family housing. Overall, the residential pipeline shows a higher percentage of studios and a lower percentage of two- and three - bedroom units relative to Santa Monica's current multifamily housing stock. Home Ownership Home ownership in Santa Monica is out of reach for low -and moderate - income households. Over the last nine months, the median condominium sales price in Santa Monica was $674,080 and the median single - family sales price was $1,368,500. Down payment requirements, credit ratings, and homeowner association dues pose additional barriers to ownership for families of limited means. While the prolonged recession caused some reduction in median sales prices in Santa Monica, the decline has generally not been large enough to make home ownership affordable to low -and moderate - income families. Even households whose incomes exceed moderate - income standards can have difficulty affording home ownership in Santa Monica. Purchasing the median - priced condominium would require a down - payment of nearly $135,000 and an annual household income of approximately $125,000, or approximately 145 percent of the area median income. Purchasing the median - priced single - family home would require a down - payment of over $270,000 and an annual household income of approximately $275,000, or approximately 320 percent of the area median income for a family of four. Foreclosure The Los Angeles County Assessor reported that in Fiscal Year 2011/12, one percent of all housing units in Santa Monica completed the foreclosure process. Comparing July 2010 to July 2011, notices of default declined by 20 percent, the number of notices of trustee sales declined by 37 percent, and real estate owned by the lender declined by 56 percent. While the data indicates declining foreclosures in Santa Monica, the overall numbers are small. For example, in July 2011, a total of 12 foreclosures were filed. A Market -Rate Rental Housing A large portion of market -rate rental housing is currently affordable to moderate - income households as evidenced by the 2011 Rent Control Board's Annual Report. The report indicates that median rents for zero- bedroom and one - bedroom apartments are at levels affordable to moderate - income households ($85,400 for a four - person household; 2011). However, median rent for two - bedroom apartments is slightly above the moderate - income affordability level and three - bedroom median rents are priced considerably above the moderate - income affordability level. The following table illustrates the 2011 market -rate median rents and rent levels affordable to moderate income households: Market Rents and fAffordability Unit Type Market Rent (2011) Affordable; Rent — Moderate Income 0- Bedroom $1,240 $1,495 1- Bedroom $1,595 $1,708 2- Bedroom $2,150 $2,028 3- Bedroom $2,850 $2,316 Demand for Affordable Housing Specific data on incomes, associated housing costs, and household size for all persons that live or work in Santa Monica would precisely identify the need for housing, but such data is not readily available. However, a good proxy of current demand for affordable housing is found in the recent affordable housing waiting list established in late 2011 by the Housing Authority. Out of more than 33,000 applicants who completed online applications during a two -day enrollment period, 3,370 applicants either live or work in Santa Monica and will therefore receive a priority ('local preference') for affordable housing opportunities. Ninety -five percent of the applicants who live or work in Santa Monica have incomes considered extremely low or very low- income. Significant portions of the 3,370 applicants are seniors (25 %), disabled persons (33 %) and persons experiencing homelessness (10 %), although these are not mutually exclusive groups. 7 For reference, 2011 income categories for various size households are shown in the following table: Table 3 Household Income Categories Household Size Extremely tow 30% Very Low 50% Low (80 %) ; 1 $17,950 $29,900 $47,850 2 $20,500 $34,200 $54,650 3 $23,050 $38,450 $61,500 4 $25,600 $42,700 $68,300 5 $27,650 $46,150 $73,800 6 $29,700 $49,550 $79,250 Seventy -eight percent of waiting list applicants are one- to two- person households at extremely low- or very low- income levels. The remaining households on the waiting list are also mostly extremely low- and very low- income, but are larger households with three or more persons. Less than one percent of the waiting list applicants are moderate - income households, while another one percent have incomes above the moderate - income level. The following table summarizes the waiting list demographics with respect to income level and household size for applicants who live or work in Santa Monica: Table 4 Waiting List Demographics OVERALL 52% 15% 6% 4% 2% 7% 4% 2% 1% 0.4% 2% 1% 0.4% 0.2% n/a 0.0% 0.0% 0.2% 0.1% 0.2% 0.7% 0.5% 0.1% 0.2% 0.0% E 100% The following three tables summarize the waitlist information among seniors, people with disabilities and homeless people: Table 5 Waiting List Demographics SENIORS (25% OF TOTAL 11% 4% 1% 0.5% 2% 1% 1% n/a Table 6 Waiting List Demographics DISABLED PERSONS (33% OF TOTAL) 6% 2% 1% 1% 0% 0.2% 0.2% n/a Table 7 Waiting List Demographics HOMELESS PERSONS (10% OF TOTAL) 0.1% n/a 0.1% n/a 1% 1% 1% n/a 1% 0.3% n/a n/a n/a n/a 100% 100% 100% Current Affordable Housing Programs and Policies The City's approach to providing affordable housing involves direct funding of affordable housing as well as requiring or negotiating consideration of affordable housing needs as part of larger developments. Existing policies do not necessarily address all affordable 9 housing needs. For example, the AHPP does not require 'extremely low income' units and generally requires two- bedroom units because of the requirement that affordable units be comparable in size to the associated market -rate units. The Office Mitigation Fee program excludes creative office space, a popular development trend in Santa Monica that brings jobs and increases the demand for housing. The following table describes the affordable housing programs associated with various types of development. Santa Monica nonprofit affordable housing developments have been successful in competitive funding applications. They also receive significant subsidy from City Housing Trust Funds, which have recently averaged $285,000 per housing unit. The largest source of the City's Housing Trust Fund had been redevelopment tax increment which represented 75 percent of the City's housing trust funds (approximately $100 million over the last 10 years). Other revenue sources include: • Developer fees - $250,000 to $1.5 million annually over the last decade • Condominium conversion fees — insignificant amounts over last several years • Community Development Block Grant - approximately $1.2 million annually; used primarily for non - housing activities 10 Development Type Affordable Housing Affordable Housing Production Program required multifamily development to Market -rate multifamily housing contribute to affordable housing production. Housing Trust Funds are invested by the Low - income multifamily housing City; redevelopment was primary source. Zoning incentives are provided for the Moderate - income multifamily housing production of 100 percent affordable housing. Office Mitigation Fee Program collects a General office space (excl. creative fee that is applied toward affordable space) housing and parks. All other development (e.g. hotel, retail, No policy currently exists. office other than general office Affordable housing is negotiated as part of Development Agreement the development agreement. Santa Monica nonprofit affordable housing developments have been successful in competitive funding applications. They also receive significant subsidy from City Housing Trust Funds, which have recently averaged $285,000 per housing unit. The largest source of the City's Housing Trust Fund had been redevelopment tax increment which represented 75 percent of the City's housing trust funds (approximately $100 million over the last 10 years). Other revenue sources include: • Developer fees - $250,000 to $1.5 million annually over the last decade • Condominium conversion fees — insignificant amounts over last several years • Community Development Block Grant - approximately $1.2 million annually; used primarily for non - housing activities 10 • HOME Investment Partnerships Program - decreased by 20 percent over the last several years; approximately $700,000 per year; used primarily for rental housing vouchers. Locally controlled funding has leveraged State funding, private tax - credit investor equity and bank loans. However, the recent dissolution of redevelopment agencies in California has eliminated Santa Monica's primary revenue source for affordable housing. State funding from voter - approved bonds is also largely exhausted. Discussion Market -Rate Housing Typology Santa Monica is an extremely desirable place to live. As a result, the demand for housing far exceeds supply, making ownership and rental housing prices much higher than regional averages. As a result of the unmet demand, strong housing values, and high barriers to entry, the City continues to receive proposals to create new housing. The City has a solid policy basis for allowing the continued production of all types of housing in Santa Monica, including SCAG targets, the need to provide housing options for Santa Monica residents as household needs change, and a desire to create housing to meet the needs of the many workers employed in Santa Monica. One critical question is what types of future housing would serve the needs of Santa Monica residents and workers. Nationally, the 2010 Census found that less than 30 percent of households are families with children. Traditionally, many Americans have considered the single - family house to be the most appropriate place for families with children. With 29 percent of all Santa Monica housing in single - family dwelling units, the availability of housing for families with children matches national trends. Of course, not all single - family homes are occupied by families with children and many such families live in multifamily housing. Additionally, it is unlikely that many new single - family homes will be created in Santa Monica, given that most opportunities for new residential development occur in Santa Monica's commercial districts. 11 A critical question then becomes what type of multifamily housing will serve the needs of Santa Monica's current and future households. Santa Monica's average household size of 1.8 people is well below the national average of 2.6, indicating smaller households. For market -rate housing, the City could prioritize larger units in order to attempt to increase the number of families with children in Santa Monica, though there is no guarantee that larger units will be occupied by families with children. Alternatively, the City could prioritize smaller units that reflect Santa Monica's current demographics. A third course is to prioritize a mix of unit sizes in order to create housing for a variety of current and future Santa Monica households. Finally, the City could let the private market dictate what type of market -rate housing should be built. An additional market -rate housing consideration is neighborhood stability. Even with a majority of its housing stock in rental apartments, Santa Monica has enjoyed noteworthy neighborhood stability as a result of rent control. Rent control has allowed many residents to stay in their apartments for decades and become invested in their neighborhoods. A concern is that newer market -rate apartments, which are not subject to rent control, do not experience the same type of long -term residency. Owners of newer apartment buildings explain that average tenancies are less than two years. Greater turn -over may be caused by the high rents commanded by newer apartments, the potential for significant rent increases in non - controlled apartments, and the fact that monthly rents can be comparable to mortgage payments or rents for larger, older apartments. Such transiency of the residential population makes it difficult to establish residential stakeholders who have a sense of ownership in the community and who can participate in community activities, such as neighborhood watch and other neighborhood groups. The concern is particular acute in Downtown Santa Monica, where approximately 2,000 rental apartments have been built in the last decade, while only one condominium building has been built and another has received approvals. The current lending environment makes it very difficult to secure financing for condominium development. However, once the lending environment improves, Council may wish to consider planning and entitlement mechanisms to support the creation of home 12 ownership opportunities in neighborhoods that are largely composed of market -rate apartments without rent - control protections. Affordable Housing Typology The mismatch between supply and demand is particularly acute for low- income households who are unable to afford market -rate housing. For example, the vacancy rate in affordable residences is consistently around two percent; vacancies are rare and quickly filled. Additionally, a total of four percent of all housing vouchers turn over annually, which provides few opportunities for those on the waiting list. The vacancy rates reflect a great demand for affordable housing, especially among the most vulnerable populations (seniors, people with disabilities, and people experiencing homelessness). As a result, opportunities for affordable housing resulting from available vacancies or voucher turn -over are minimal. If the affordable housing waiting list is representative of the overall community's affordable housing needs, it indicates a need for deep affordability levels and smaller apartment sizes to accommodate the needs of low- income Santa Monica residents and workers seeking affordable housing. If the waiting list is not representative, it does indicate, nonetheless, that over 3,000 Santa Monica resident and worker households are seeking affordable housing in Santa Monica and need deep affordability and smaller units to meet their needs. Affordable Housing Typology in Private Development Currently, the AHPP requires unit sizes and bedrooms of affordable housing to generally match the unit sizes and bedrooms of the associated market -rate housing. While such an approach helps ensure an element of equity between the affordable and market -rate housing, it may not best serve the needs of low- income resident and worker households. According to available data, low- income resident and worker households who are seeking affordable housing could be accommodated by smaller units. To address these needs, an alternative AHPP approach could promote a larger number 13 of smaller units, rather than fewer, larger units, to serve a greater number of needy households. Council could also consider the provision of apartments that are affordable to extremely low- income households as satisfying greater needs than a larger number of apartments that are affordable to households with higher incomes. While making such changes to the AHPP would require additional studies and analyses, Council could consider endorsing such an approach in upcoming development agreement considerations. Entitlement Incentives Downtown Santa Monica provides a case study in using entitlement incentives to produce housing, particularly affordable housing. The zoning code allowed certain residential developments that provided on -site or off -site housing pursuant to AHPP requirements to be approved administratively. Under the zoning allowances, thousands of apartments, and hundreds of affordable apartments, were constructed. Until a new Downtown Specific Plan is adopted, most downtown development triggers the requirement for a development agreement. In order to support the creation of affordable housing, Council could consider providing entitlement incentives for housing developments that provide far more affordable housing than required by the AHPP. Providing entitlement incentives such as administrative approvals for housing developments that meet certain affordable housing goals would run counter to the desire for more public input in the development process. While Architectural Review Board approval is required of administratively approved development, administrative approval does not include the Planning Commission review associated with development review permits or the Planning Commission and Council review associated with development agreements. Workforce Housing There is general agreement about the need for housing that serves the needs of all Santa Monica residents and workers. The LUCE identifies the construction of additional affordable and workforce housing above current regulatory requirements as a 14 community benefit. Several current development agreement proposals are considering this option. However, there are currently no adopted requirements for workforce housing, which generally targets households earning up to 180 percent of the area median income (approximately $154,000). Discussion of workforce housing has generally focused on opportunities to address the housing needs of Santa Monica residents and workers whose incomes do not qualify them for existing affordable programs but who may struggle, nonetheless, to afford housing in Santa Monica. Given that market -rate apartment rents do not differ significantly from moderate - income rents, community benefits associated with creating apartments that are affordable to moderate - income households (or households with incomes above the moderate - income level) are questionable. There could be some community benefit associated with providing three - bedroom or larger apartments that are affordable to moderate - income households, though the data is unclear as to whether there are significant numbers of moderate - income households searching for such housing. Unlike rental opportunities, there may be workforce housing benefits associated with creating ownership housing for moderate - income and above - moderate - income households who work or live in Santa Monica. Households with these incomes generally are unable to afford market -rate condominiums in Santa Monica. As evidenced by the difficulty in securing financing for moderate - income condominiums that were originally proposed for High Place East, the creation of such workforce housing may be difficult. Housing Locational Issues The Land Use and Circulation Elements of the General Plan set forth a framework for allowing additional development to occur in a few select locations that are well - served by transit and other infrastructure. The attributes that are favorable for all development types are also favorable for housing development. In particular, the development of three Exposition light rail stations in Santa Monica provides an outstanding opportunity 15 to provide excellent transit access for nearby residents. The LUCE encourages new housing resources in complete neighborhoods near the new stations, generally in locations where residential development was previously not allowed. It is critical that new development near the stations include a significant component of affordable housing. This is especially important because low- income people tend to be more frequent users of transit and because the City's largest funding source for affordable housing, redevelopment tax increment, is no longer available. Primacy of Affordable Housing as a Community Benefit The dissolution of redevelopment funding for affordable housing means the City's primary new affordable housing pipeline may be housing built by for - profit developers as a part of larger developments. The LUCE identifies affordable housing as a primary community benefit. Council may wish to refine or expand this direction to ensure that community diversity continues to be addressed. Council may also wish to consider whether affordable housing should be provided by all new development. Traditionally, affordable housing has been provided in concert with market -rate housing. However, other development types, including hotels, retail, creative office and general office, generate demand for affordable housing. Given the variety of development agreements that Council will consider in the coming months and years (see Attachment B), negotiating the provision of affordable housing as part of commercial developments would provide Santa Monica with additional tools to address affordable housing needs. The City could also prepare a nexus study to ascertain the link between commercial development and affordable housing in order to address affordable housing needs in developments that are subject to development review permits. Other Funding Sources Affordable housing funding sources available to the City are small compared to what was available through redevelopment tax increment. Leaders in Sacramento have UP committed to finding a new funding source. However, given the gridlock and financial problems in Sacramento, it is unclear that a viable solution is readily available. If the state government is unable to develop a long -term affordable housing funding solution in the coming months, Council may wish to consider opportunities to develop a local funding source, such as a tax or fee, that could be used to support affordable housing. Ground -Floor Housing Approximately one -third of the Santa Monica residents and workers on the affordable housing wait list are people with disabilities. Many are people with mobility impairments, who have expressed a need to reside in ground -floor housing in order to access exits more easily in an emergency. In reviewing future development proposals, Council may wish to consider ground -floor approaches that create engaging, sidewalk - oriented storefronts without preventing opportunities to create access for people with mobility impairments. Commission Action The Housing Commission discussed the study session information at its February 16, 2012 meeting. The Commission was generally supportive of various approaches to continue to support affordable housing. One Commissioner expressed concern about efforts focused primarily on the production of smaller affordable housing units rather than family housing, even though the data reflects the greatest need for smaller units. The Commission recommended that studios and one - bedroom apartments be well- designed to maximize livability for their residents. Summary of Key Issues This staff report covers a variety of important issues related to multifamily housing in Santa Monica's future. Given the many development agreements that the City will consider in the coming months, staff has prioritized the need for Council direction on the following policy issues: Should rental apartments that are affordable to moderate - income households be considered a community benefit? 17 • Should affordable housing community benefits be targeted toward smaller units that serve extremely low- and low- income households that make up the large majority of the Santa Monica residents and workers seeking affordable housing? • Should affordable housing be negotiated as a community benefit associated with commercial development? If so, should staff begin to lay the groundwork for a nexus study between commercial development and affordable housing? • Should entitlement incentives be used to promote affordable housing development, even if it means fewer opportunities for public participation? • If workforce housing is proposed as a community benefit, should it be targeted toward ownership opportunities? Financial Impacts & Budget Actions There are no financial impacts associated with conducting the study session. If Council wishes to implement new programs or practices, staff will return with an evaluation of resource implications. Prepared by: Jim Kemper, Housing Administrator Andy Agle, Director / Housing and Economic Development Attachments: Forwarded to Council: Rod Gould City Manager A. Residences in Construction, Approved, or Proposed (as of February 22, 2012) B. Planning Commission Caselist (as of February 16, 2012) IN ATTACHMENT A Residences in Construction, Approved, or Proposed (as of February 22, 2012) PROJECT # of Units Number of Bedrooms UNDER CONSTRUCTION Studio 1 2 3 4 Civic Center Village 318 0 88 147 83 0 High Place (CCSM) 91 0 0 32 59 0 2802 Pico (CCSM) 33 0 0 23 10 0 6th and Pico (CCSM) 32 0 0 22 10 0 26th and Broadway (CCSM) 33 0 0 21 12 0 1502 Broadway (NMS) 32 19 13 0 D 0 1420 -40 5th Street (NMS) 100 0 361 64 0 0 1427 7th Street (NMS) 50 7 16 27 0 0 Broadway and Lincoln (NMS) 98 12 84 2 0 0 Broadway and 9th (NMS) 98 32 66 0 0 0 Mayfair 38 0 21 17 0 0 519 Santa Monica Blvd 40 0 25 15 0 0 TOTAL 963 70 349 3701 174 0 APPROVED Studio 1 2 3 4 401 Broadway 56 48 8 0 0 0 7th and Arizona 106 22 71 13 0 0 301 Ocean 20 0 0 5 14 1 525 Broadway 125 4 49 72 0 0 _ _ 711 Colorado 26 11 0 15 0 0 15147th Street 26 6 0 20 0 0 3214 -3218 Highland Avenue 6 01 01 1 51 0 2323 28th Street 8 0 0 8 0 0 2438 Ocean Park Avenue 2 0 0 0 2 0 1518 11th Street 6 0 0 6 0 0 TOTAL 381 91 128 140 21 1 PENDING APPROVAL Studio 1 2 3 4 Papermate 325 TED --- > Village Trailer Park 481 2071 1981 761 0 0 Roberts Center * see note 169 48 80 23 0 0 Pasco Nebraska (NMS) 545 175 175 175 20 0 1802 Santa Monica 26 24 2 0 0 0 2901 Santa Monica (NMS) 50 0! 40 8 2 0 3402 Pico 300 771 139 68 16 0 1318 2nd Street 56 281 28 0 0 0 1443 Lincoln (NMS) 100 TBD - - -> 1650 Lincoln (NMS) 0 75 15 0 0 _ __90 1660 Lincoln (NMS) 82 1 61 20 01 0 1415- 335th(NMS) 200 TED --- > 1547 7th (NMS) 40 TBD - - -> Miramar 120 TED --- > 2300 Wilshire 30 0 7 23 0 0 2919 Wilshire 26 0 6 13 7 0 1803 16th Street 10 0 5 5 0 0 _ *also has 18live /work units TOTAL 2650 560 816 426 45 0 GRAND TOTAL 1 3994 721 1293 9361 240 1 ATTACHMENT B Planning Commission Caselist* List Prepared as of: February 16, 2012 * this list includes all discretionary applications that will require a public hearing by the Planning Commission. Also listed are Development Agreement float -up discussions where an application has not yet been formally submitted. Tentative Hearing Date Project Applicant Planner fCommercial Proiects TA 05 -003, VAR 05 -011 David Forbes Hlbbert, 401 Wilshire Boulevard AIA, Contact 310 - 394 -4045 To Allow Continued Use of 4800 sf Storage Area on 4th Level of Subterranean Garage. Douglas Emmett, Applicant 310 - 255 -7700 Filed 4/14/2005 CUP 06 -020, DR 06 -019, TA 06 -007 (T. Kim) 1131 Arizona Avenue Pending Jeoung & II Hie Lee, New 3- Story, Skilled Nursing Facility w/48 Beds Applicants Environmental Review & 27 Parking Spaces to Replace Existing 1- Community Meeting: Story Facility. TA to Amend SMMC Sec. 1210112009; 31112011 9.04.08.06.060 & 9.04.08.06.070. Filed 11/14/2006 Float -UP: 3/2312011 CUP 11 -010, VAR 11 -023 3/21/2012 2800 Wilshire Boulevard Fresh &Easy Neighborhood Market, (R. Bunim) Remodel Existing 12,947sf Retail Store to new Linda Haynes, Market w/ Type 21 Alcohol License. Variance Applicant pp Community Meeting: for Parking: Site is Deficient 10 Stalls; 11 Bicycle Racks are Proposed. 31112012 Filed 11/08/2011 Fernando Martin, FCUP,1 Applicant Howard 2/15/2012, Cont. to Robinson, Contact 310- 2/22/2012 828 -0180 1654 Ocean Avenue (R. Bunim) Type 47 Alcohol License for New 1521 sf Restaurant "Casa Martin" in the RVC District. Filed 12/08/2011 CUP 12 -001 ---- - - - - -— –_ � _ Mani Brothers Portfino 1401 Ocean Avenue Plaza LLC, Applicant Proposed Restaurant w/ Type 47 Alcohol Kevin Kozel, Contact (S. Mizokami) License & Request for Parking Variance. 310- 393 -1007 Filed 1/24/2012 RESIDENTIAL & MIXED -USE PROJECTS DCP 03 -013, TM 03 -014 3/21/2012 1803 -1807 Sixteenth Street (L. Yegazu) Steven W. Stapakis 11 -Unit Condominium, Townhouse - Style, 2- 949- 500 -3427 Pending story w/ "tuck- under" parking below grade (25 Environmental Review spaces) in 15,000 sf total. Modification To Project Filed 9/10/2003 TM 05 -009, VAR 05 -010 [TTM #54420] 1211 Twelfth Street (R. Bunim) E -Ho Lin, Contact 15 -Unit Condominium w/ Semi - Subterranean Turtle Sunset Villas LP 310- 478 -6873 Pending Parking. Environmental Review Filed 3/31/2005, 4/14/2005 DR 06 -007 & TM 06 -021 [VTTM #66625] (S. Mizokami) Park Virginia, LLC, 2002 -2018 Twenty -First Street Applicant Pending Farhad Ashofteh, Environmental Review 19 -Unit Townhouse -Style Condominium w/ 42 Contact Parking Spaces in Subterranean Garage. 310 - 399 -9995 Community Meeting: 11/18/2010 Filed 7/1212006 [TM] & 7118/2006 [DR] DR 06 -012, DCP 06 -012, TM 06 -027 [VTTM PLUS Architects, NOTE: EIR Process #67005] Shahab Ghods, Contact Suspended per 310- 478 -0439 Applicant. 1639 Eleventh Street Pacifica Equities LLC, (G. Page) 66 -Unit Artist Lofts in 3- Stories Over 2- Levels of Property Owner Subterranean Parking (147 Parking Spaces) in Pending M -1 District. Environmental Review Total 54,058sf Community Meeting: Filed 9/12/2006 111212009 DR 06 -020, DCP 06 -009, TM 06 -034 ]VTTM 3/21/2012 #68096] Danny Soroudi, 2300 -2320 Wilshire Boulevard Maxxam Enterprises, (G. Page) Applicant New Mixed -Use Building, 3- Stories w/ 24,910sf Draft EIR Released Ground Floor Commercial; 35,990sf (30 -Unit Roberto Moreno, 912912011; Comments Condominium) on 2nd & 3rd Floors w/ 2- Levels Contact Moule & Due 1111212011 of Subterran -ean Parking. Polyzoides, Architects 626 -844 -2400 Community Meeting: Filed 11/30/2006 31312011; 10/1112011 TM 06 -048 [VTTM #68473] Harvey Goodman, C.E., 1134 Euclid Street Contact (G. Szilak) 310- 829 -1037 6 -Unit Condominium w/ Moderate Income Unit Pending Changes to Over Subterranean Garage. Khadijeh Momtaz, Parking & Affordable Applicant/Property Housing Requirement. Owner Filed 12/28/2006 TM 09- 002___ -_ [VTPM #68198] 927 -929 Lincoln Boulevard Ali Sharifi, Applicant Harvey (S. Albright) Relocation of Existing Historic Bungalow On- Goodman, Contact 310 - Site & Construction of 3 Condominium Units w/ 829 -1037 Semi - Subterranean Parking. Filed 3/19/2009 TM 09 -003 [TPM #71063] 1047 Ninth Street Camille Zeitouny, Proposed 3 -Unit Condominium 2- Stories w/ Applicant (C. Townes) Subterranean Parking (6 Parking Spaces) in 626 -581 -7899 7004sf total. Filed 4123/2009 TM 11 -004 [TTM #715151 1533 Eleventh Street Shokrollah M. Jahromi, Applicant 310 - 678 -2543 (D. Banks) 5 -Unit Condominium, 2 -Story w/ Mezzanine & Subterranean parking. Filed 8/11/2011 DR 11 -003 17th Street Villas, LLC, 1041 -1047 Seventeenth Street Applicant 4/18/2012 Extension Request for 3 Years for DR 09 -002. Kevin V. Kozal, Contact (G. Szilak) 310 - 451 -4138 Filed 9/29/2011 DR 11 -004 1453 Third Street Promenade Promenade Gateway, LP, Applicant 4/18/2012 Modify DR #374 to Add a New Condition Requiring the Public Passageway to Remain Howard Robinson, (L. Yegazu) Open to the Public from 7:OOAM to Midnight Contact 310 - 838 -0180 Daily. Filed 12/13/2011 FPeVe[OplTtent Agreements [Pending & Filed] e � —�� (J. Yeo) DEV 07 -005 Float -Up: Review by 2930 Colorado Avenue PC 811612007; Forwarded Proposed LEED - Certified Mixed -Use Recommendation to Development on 3.85 acres: 240 Condominiums City Council to Begin Units, 109 Apartment Units (Low- Income & DA Process. SRO), in approximately 181,800 sf w/ Village Trailer Park LLC Commercial (40,030sf) & Retail Space Mark. L. Luzzatto, NOP for EIR Released (8,030sf); 503 Parking Spaces in 1 -Level Contact 310 - 261 -8777 6/10/2010 Subterranean Garage & At -Grade Covered & Uncovered Parking. TOTAL SF: 229,860sf. Also NOA for DEIR: Requesting Zone Change from R -MH Released 10/14/2011, (Residential - Mobile Home) District to LMSD Comments Due (Light Manufacturing & Studio District). 11/28/2011 Filed 6/25/2007 DEV 07 -006 710 Wilshire Boulevard (& associated addresses: 718 Wilshire Boulevard, 1213 -33 Seventh Street) 1/25/2012, Continued for Design Changes to Proposed hotel & mixed -use project located on 2/15/2012 8 lots fronting on Wilshire Boulevard, Seventh Street and Lincoln Boulevard. The proposed Forwarded project includes 2 potential development Recommendation to scenarios. The first scenario ( "Development City Council to Scenario 1 ") would involve construction of a Approve DA. 285 -room hotel & 16,421 sf retail/ restaurant Maxser & Company, project, including adaptive reuse of an existing Ltd., Applicant (J. Yeo) Landmark building structure (Santa Monica Professional Building), & a separate mixed -use Ken Kutcher, Attorney, Float -Un Hearing: 24 -unit residential building w/ 1,600sf of ground Contact 310 - 441 -3669 009 Forwarded floor retail on a separate lot across 7th Court Recommendation to Reco alley w/ frontage on Lincoln Boulevard. The Howard Laks, AIA, City Council to Begin hotel & retail/ restaurant project would occupy Architect 310 - 393 -4455 DA Process. the lots currently addressed as 710 Wilshire Boulevard, 718 Wilshire Boulevard and 1213- 1233 7th Street. The mixed -use building would City Council Float -LID: May 25, 2010 occupy an adjacent lot addressed as 1218 Lincoln Boulevard. The second scenario ( "Development Scenario 2 ") would involve the NOA for DEIR development of the same hotel & retail/ Comments Due restaurant project components of the first 9/1/2011 scenario, but would not include the development of the mixed -use residential building. Filed 7/2412007 DEV 09 -001 1802 Santa Monica Boulevard (S. Mizokami) [1407 & 1413 18th Street] Plus Architects, Float-Up Hearing: 3- Story, Mixed -Use Building w/ 32 Residential Applicant 211612011 Units (8 -Units Workforce Housing - Median Shahab Ghods, Contact Recommendation to Income) & 9400sf Ground Floor Commercial 310 - 478 -6149 Proceed Forwarded to Space Over 2- Levels Subterranean Parking City Council to Begin Garage w/ 95 Parking Spaces. Total Square DA Process. Footage: 36,OOOsf Filed 12/10/2009 Development Agreement DEV 10 -002 Hines 26th Street LLC, 4/25/2012 Applicant 1681 Twenty -Sixth Street (Papermate site) Colin Shepherd, (J. Yeo) Contact 213 -626 -5200 Proposed Mixed -Use Project: Creative Arts Community Meelings: Office Space; Ground Floor Commercial Harding Larmore (Neighborhood Serving); Housing - Mix of Kutcher & Kozal LLP 1211512009 Affordable, Workforce & Market -Rate; Ground 310 - 393 -1007 Floor Public Open Space For Community Float -Up Hearing: Gathering & Cultural Arts Venue; Street 1/2712010 Forwarded Improvements - New North /South Street to Recommendation to Bisect Site for Vehicle / Bicycle Access; New City Council to Begin East/West Street for Service Access on North of DA Process. Site; & North /South Pedestrian Access From Olympic Boulevard Through Site; & NOP for EIR Released Subterranean Parking. 11/16/2010 Filed 5/20/2010 DEIR Comments Due..: 3/12/2012 CC Float -UP: 3/22/2011 - CC did not move this project forward. 812312011 Council Meeting #2 DEV 11 -001 (R. Tanemori) AMC Theater Project AMC Entertainment, Community Meeting: 1318 -1320 Fourth Street Inc. & Metropolitan Pacific Capital, Inc, April 12, 2010 Applicant Construction of an Approximately 63,OOOsf Float -Up Hearing: theater Building Which Includes Approximately Dale Goldsmith, 6/1612010; Cont. to 2,197 Theater Seats; An Approximately 21 00s Contact Armbruster 7/2112010- Retail Tenant Space; & An Interior Restaurant Goldsmith & Delvac Recommendation to CC Space That Will Be For Theater Patrons & Also LLP 310 - 209 -8800 to Being DA Process Open to the Public; Removal of 324 Existing Parking Spaces in Parking Structure #3 (Demolish Parking Structure). City of Santa Monica, Property Owner NOP EIR Comments Filed 1/7/2011 Due 6/112011 DEV 11 -003 (R. Tanemori) Miramar Hotel Development Agreement Community Meeting: Ocean Avenue LLC c/o 613012011 1133 Ocean Avenue (aka: 101 Wilshire MDS Capital Boulevard) Alan Epstein Contact Proposed Revitalization Includes: Preserving 310 - 458 -3600 Float -Up Hearing: Morton Bay Fig Tree & Palisades Building; 2/08/2012, Cont. to Providing Increased Open Space w/ New Plaza 2/22/2012 @ Corner of Wilshire & Ocean; Removing Surrounding Walls; Replacing 2 Surface Parking Lots w/ New Retail Shops; Adding Up to 120 For -Sale Condominiums & Affordable Housing Per Code; Creating 150 New Jobs; Objective to Obtain LEED Silver Certification for All New Buildings; & Provide for All Uses (freeing up 100 -150 On- Street Parking Spaces). Application Submittal Digital Plans Filed 4/2011 DEV 11 -004 [Salvation Army Site] (S. Albright) 1666 Eleventh Street & 1665 Tenth Street NOI & draft MIND Howard Laks, AIA, Released 9/6/2011, Proposed New 2- Story, 60,800sf Rehabilitation Applicant & Contact Comments Due By Center w/ 1 -Level Subterranean Parking & 310 - 393 -4455 10/5/2011 7,500sf Surface Parking Lot @ 1665 Tenth Street, Filed 5/12/2011 DEV 11 -005 4/18/2012 1660 Lincoln Boulevard DE Architects, Don Empakeris, AIA as (G. Page) Applicant 310-451-7917 82 -Unit, 6 -Story (59 -Ft.) 100% Affordable & Community Meeting: Workforce Housing Apartment Complex w/ 1660 Lincoln NMS LLC, 111712012 Subterranean Parking & 1500sf Retail space. Property Owner Filed 6116/2011 DEV 11 -006 - - -- ---- - - - - -- — - - - --- 1447 Lincoln Boulevard Expand the Ground Floor Retail / Residential Lincoln Studios LLC / Floor Area from 7000sf to 13,100sf (Comprised NMS Properties, 3/21/2012 of Additional 4,333sf Retail & 1,767sf Applicant Commercial (for Residential Leasing Office), for (T. Kim) Total Floor Area Not to Exceed 46,475sf. Initial Tim Ball, Contact Project Approval for 97 -Unit, 100% Affordable 310- 593 -4224 Housing Project w/ 3- Levels Subterranean Parking (Currently Under Construction). Filed 6/30/2011 DEV 11 -009 OTO Development LLC, Applicant 501 Colorado Avenue (S. Mizokami) Michael Gallen, Contact Proposed 136 -Room, 5 -Story Hotel w/ 310 - 379 -4030 Community Meeting: Subterranean Parking for Hampton Inn & Suites 1012712011 by Hilton. Float -Up Hearing: Filed 7/14/2011 12/14/2011 DEV 11 -010 1554 Fifth Street OTO Development LLC, (S. Mizokami) Applicant Proposed 136 -Room, 6 -Story Hotel w/ Community Meeting: Subterranean Parking for Courtyard by Marriot. Michael Gallen, Contact 1012712011 310- 379 -4030 Filed 7/14/2011 Float -Up Hearing: 12/14/2011 DEV 11 -012 ------ -- �— ._ - - - -- - - -- — 1548 Sixth Street LUXE LLC -NMS Add 4 -Units to Existing 50 -Unit Mixed -Use Properties, Inc., Applicant 5/16/2011 Project. Units will be within Existing Bldg. Envelope. New FAR: 2.11. Request that Current Tim Ball, Contact (R. Bunim) Parking (102 Spaces) Satisfy Parking 310 - 893 -4224 Requirements. Filed 7/2612011 DEV 11 -013 NMS Broadway 819 -829 Broadway Properties, LP., Applicant Expand Ground Floor Retail Space * & Add 1 3/21/2012 SRO Unit to a 97 -Unit, Mixed -Use Affordable Tim Ball, Contact Housing Project Currently Under Construction. 310 - 893 -4224 (T. Kim) *Expansion from 7,OOOsf to 9915sf & Total Residential SF from 33,375sf to 34,435sf. Filed 7126/2011 DEV 11 -014 1650 Lincoln Boulevard 4/18/2012 1650 Lincoln MNS, Proposed 90 -Unit, 6- Story, Mixed -Use Project LLC., Applicant Over 2 -Level Subterranean Parking Garage. (G. Page) Project Consists of 34 Market -Rate One- Tim Ball, Contact Bedroom Units; 56 Affordable Units (22 310 -441 -3700 Community Meeting: Workforce & 19 Moderate Income Units & 15 111712012 Very -Low Income Two - Bedroom Units) & 1500sf Ground Floor Retail. Filed 8/30/2011 DEV 11-015 David Forbes Hibbert, 3008 Santa Monica Boulevard AIA, Applicant 310-394-4045 New 2-Story Office Bldg. w/ Ground Floor Retail (G. Page) Over 2-Levels Subterranean Parking (71 Pkg. Albinas & Vita Spaces) in 25,21 Osf Total. Markevicius Trust, Property Owner Filed 10/27/2011 DEV 11-016: Community Meetings: March 13,2009; May 7, "Roberts Center" 2009 2848 - 2912 Colorado Avenue The Roberts Float-Up Hearina: Mixed-Use Project: Approx. 300,000sf w/ Companies, Robert 1111012010 Production, Post-Production Studio Space, Blumenfield, Applicant Forwarded Creative Office Space & Ground Floor Recommendation to Neighborhood Serving Retail & Restaurant E.D.D.G. Inc., Contact CC to Begin DA Space & Between 169 - 231 Rental Units (Multi- Sami El Bayar Process. Family housing); 2-Levels Subterranean Parking 310-503-1295 [510 Spaces] & Public Spaces w/ Pedestrian City Council Float-Up: July 26, 2011 Access on 2.8 acres. Filed 11/30/2011 NOP for EIR Released 1211412011, Comments Due 112612012 DEV 11-017 3402 Pico Boulevard, 2337 Continela Avenue & 2403-2409 Centinela Avenue (T. Kim) Gregg Amees, Applicant TC Pico Proposed 4-Story, 300-Unit Apartment Building Development LLC Community Meeting: w/ 5000sf Ground Floor Retail & Two Levels 112612012 Subterranean Parking w/ 554 Parking Stalls. Filed 12/15/2011 DEV 12-001 1318-1324 Second Street David Forbes Hibbert, AlA, Applicant (S. Mizokami) Proposed 4-Story, Mixed-Use Project w/ 56- Kati Joyce, Contact Units on 3 Stories Above Ground Floor Retail 310-394-4045 x110 [6840sq in 47,171 sf Total. 2-Levels Subterranean Parking [66 Parking Stalls] in 28,103sf. Filed 1/13/2012 Proposed Development Agreement: Paseo Nebraska (R. Tanemori) 3020, 3030 -3060 Nebraska Avenue, 3025 Nebraska Studios, LLC, Community Meeting: Olympic Boulevard, & 1819, 1820 Berkeley Developer January 14, 2010 Street Dale Goldsmith, Proposed Approximately 545 Multi - Family Contact Armbruster Housing Units (20% Moderate Income, 60% Goldsmith & Delvac Workforce Housing, 20% Market Rate); Approx. LLP 310 - 209 -8800 Float-Up Hearing: 80,OOsf Neighborhood Serving Commercial 2/3/2010 Space & Creative Office Space; Series of Forwarded Publicly Accessible Pedestrian Paseos to Recommendation to Connect Public Streets Through the Site; Public CC to Begin DA Street Improvements & Construction of Approx. Process. 1000- Space, 2 -Level Subterranean Garage. Text Amendments & General Plan Amendments TA 08 -004 201 Palisades Beach Road The Beach Club, Applicant Amend SMMC Section 9.04.08.12.060(f) to David Forbes Hibbert, (L. Bar -EI) Eliminate Everything After the Works "Rear AIA, Contact Yard Setback Fifteen Feet." 310 - 394 -4045 Filed 5/23/2008 TA 08 -007 1144 Twelfth Street 1144 12th Street, LLC (G. Page) Amend Bootleg Unit Ordinance. 310- 315 -1956 Filed 10/21/2008 TA 12 -001 C -4 & CM Districts City of Santa Monica, Planning & Community 5/16/2012 To Permit Off- Street Food Truck Venues in the Development Department, C -4 & CM Districts by Performance Standard Applicant 310 -458- (P. Foley) Permit (PSP). 8341 Filed 1/26/2012 ito] TA 12 -002 City of Santa Monica, Citywide Planning & Community Development 3/7/2012 Department, Amendment to Add Subchapter 9.73, Applicant 310 -458- (B. Rolandson) Establishing a Transportation Impact Fee. 8288 APPEALS TO PLANNING COMMISSION -- - - - - -- - - - - -- ------ APPEAL 11 -006 - - - - -- --------------- - -- 137 Hart Avenue Appeal of Zoning Administrator's Denial to Allow 'low Robert Ward, AIA, 4/18/2012 One, Sub - standard Parking Space in 10 Applicant & Appellant (R. Bunim) Setback. Appeal Filed 7/27/2011 APPEALS TO CITY COUNCIL APPEAL 10 -004 of DR 07 -006, VAR 07 -018, & EIR 09 -003 Vickie Neemeyer, 2919 -23 Wilshire Boulevard Appellant 310 - 279 -5900 Date Pending Approved by PC 6116/2010: Mixed -Use Building W/ 11,259sf Retail / Commercial & 26 -Unit Wilshire Structures, (G. Page) Apartments; & 100 Parking Spaces in LLC, Applicant Subterranean Garage;38281sf Total 310 - 829 -0200 Appeal Filed 6/2812010 APPEAL 11 -010 of DR 09 -001; CUP 10 -023, VAR 10 -021 & Denial of SOC 1907 -1929 Lincoln Boulevard Proposed One - Story, Retail Building w/ South Dillon Tidwell, Applicant At -Grade Parking (31 Parking Spaces) /Appellant 970 -282- Date Pending Accessed from Bay Street & Lincoln Court & w/ 1038 Basement Stock & Electrical Room. Total: (L. Yegazu) 11586 Gross Sq. Ft. EIR Certified 9/21/2011; CA Lincoln & Pico LLC SOC Denied 11/2/2011. c!o Tatum Real Estate Appeal Filed 11/16/2011 11