R10823Attachment B
RESOLUTION NUMBER 10923 (CCS)
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA MONICA
SUBMITTING TO THE VOTERS A MEASURE PROPOSING TO SET
THE REAL PROPERTY TRANSFER TAX RATE
AT NINE DOLLARS PER THOUSAND DOLLARS
OF SALE VALUE FOR ALL SALES OF ONE MILLION DOLLARS OR GREATER,
ALONG WITH AN ADVISORY, COMPANION MEASURE
ASKING WHETHER THE INCREASED REVENUES
SHOULD BE SPENT ON AFFORDABLE HOUSING,
AT THE GENERAL MUNICIPAL ELECTION TO BE HELD ON
TUESDAY, NOVEMBER 4, 2014,
AND AUTHORIZING CITY COUNCIL MEMBERS TO FILE
WRITTEN ARGUMENTS FOR OR AGAINST THE MEASURE
AND DIRECTING THE CITY ATTORNEY TO PREPARE
AN IMPARTIAL ANALYSIS OF THE MEASURE
WHEREAS, all redevelopment agencies in California, including the Santa Monica
Redevelopment Agency, were dissolved on February 1, 2012; and
WHEREAS, the Santa Monica Redevelopment Agency generated nearly $40
million per year that was used for Santa Monica community priorities such as seismic
safety improvements to public buildings, affordable housing, and capital improvements;
and
WHEREAS, the dissolution of the Santa Monica Redevelopment Agency
severely diminished the funds available to address Santa Monica community priorities;
and
WHEREAS, many residents live in the City of Santa Monica because the City
invests in community priorities, offering extensive services and programs that
substantially enhance quality of life; and
WHEREAS, residents depend upon the City to continue to protect their quality of
life and effectuate community priorities, but with the loss of redevelopment funds, the
City must seek other resources; and
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WHEREAS, an increase in the real property transfer tax would partially fill the
revenue gap left by the loss of redevelopment funds; and
WHEREAS, all City revenues are subject to annual independent audits with
public review of the City Budget being widely available, including at City Hall, on -line
and at the public library; and
WHEREAS, median sales values for commercial and residential properties have
fully recovered from the recession that began in 2007; and
WHEREAS, the existing City of Santa Monica real property transfer tax is set at
only three dollars per thousand dollars of sales price for all sales of commercial and
residential properties; and
WHEREAS, the City of Santa Monica proposes to set the City of Santa Monica
real property transfer tax for all sales of commercial and residential properties sold for
one million dollars or more at nine dollars per thousand dollars of sales price; and
WHEREAS, redevelopment funds provided over $15 million annually to support
the production and preservation of affordable housing in Santa Monica; and
WHEREAS, the dissolution of the Santa Monica Redevelopment Agency has
severely diminished funding available for affordable housing, with approximately
$300,000 expected to be available in each of the coming years; and
WHEREAS, affordable housing addresses a great need in Santa Monica, where
the 2013 median market rent for a two - bedroom apartment was nearly three times
greater than what a low- income family can afford; and
WHEREAS, affordable housing continues to be critical to addressing the needs
of Santa Monica residents, where one in five households made less than $25,000 in
2012 and over 50 percent of households made less than $75,000 in 2012; and
WHEREAS, a lack of affordable housing in high -cost areas such as Santa
Monica causes many households to be overburdened by housing costs, reducing
available funds for other necessities that are essential for health and wellbeing; and
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WHEREAS, an increase in the real property transfer tax would increase
revenues for the City of Santa Monica; and
WHEREAS, the City Council could allocate those increased funds toward the
production and preservation of affordable housing; and
WHEREAS, increased funding for the production and preservation of affordable
housing would allow the City of Santa Monica to continue if efforts to address the
housing needs of low- income seniors, veterans, working families, and people with
disabilities; and
WHEREAS, on June 10, 2014, the City Council adopted resolutions calling for
and giving notice of a General Municipal Election on November 4, 2014; and
WHEREAS, the proposal would set the real property transfer tax in accordance
with state law; and
WHEREAS, the City Council of the City of Santa Monica proposes to place the
following proposition amending Chapter 6.96.020 of the Santa Monica Municipal Code,
along with a companion advisory measure, on the ballot at the General Municipal
Election to be held on November 4, 2014,
NOW THEREFORE, the City Council of the City of Santa Monica does ordain as
follows:
SECTION 1. A General Municipal Election has been called for on November 4,
2014 for the purpose, among other things, of electing City Council members and
submitting measures and ballot propositions to the voters.
SECTION 2. At the General Municipal Election called for November 4, 2014, the
following proposition shall be submitted to the qualified electors of the City of Santa
uI�LTfi O
E
PROPOSITION " ". Shall an ordinance be
adopted that amends the real estate transfer Yes
tax so that for commercial and non- commercial --------------- - --
real estate sold for one million dollars or more, No
the tax rate would be $9 for each thousand
dollars of sales price?
SECTION 3. At the General Municipal Election called for November 4, 2014, the
following advisory question shall also be submitted to the qualified electors of the City of
Santa Monica:
If the proposed transfer tax on commercial and
non - commercial real estate sales is approved
by voters, should the revenue be used to Yes
preserve, repair, renovate and construct ------ - - - - --
affordable housing for low- income people who No
work or live in Santa Monica, including seniors,
veterans, working families and persons with
SECTION 4. The City Clerk shall transmit to the City Attorney, in accordance with
Elections Code Section 9280, copies of both measures. The City Attorney shall prepare
an impartial analysis of them, which analysis shall not exceed 500 words in length each.
The impartial analysis shall be filed by the date set by the City Clerk for the filing of
primary arguments. In accordance with Santa Monica Municipal Code section
11.04.190 and California Elections Code Section 9295, not less.than 10 calendar days
before the City Clerk submits the official election materials for printing, the City Clerk
shall make a copy of all applicable elections materials available for public examination
in the City Clerk's Office.
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SECTION 5. The C.ity Council authorizes its members, as follows, to file written
arguments for and against the measures:
FOR:
AGAINST:
All written arguments filed by any person in favor of or against any measure,
including any rebuttal arguments, shall be accompanied by the names and signatures of
the persons submitting the arguments as required by applicable law, and any names,
signatures and arguments may be filed until the time and date fixed by the City Clerk in
accordance with applicable law, after which no change may be submitted to the City
Clerk unless permitted by law.
SECTION 6. The City Clerk shall cause the text of the measures, together with
the City Attorney's impartial analysis, and any arguments for or against the measures,
as well as any rebuttal, to be mailed to all qualified voters with the sample ballot. In
addition to other notices and publications required by law, the City Clerk, not less than
forty (40) days and not more than sixty (60) days before the General Municipal Election,
shall cause the text of the measures to be published once in the official newspaper and
in each edition thereof during the day of publication. The City Clerk is authorized to give
such notices and to fix such times and dates as are required by law or which are
appropriate to conduct the election properly.
SECTION 7. The provisions of Resolution Numbers 10810 (CCS), 10811 (CGS),
10812 (CCS), and 10813. (CCS) are referred to and incorporated as necessary for more
particulars concerning the General Municipal Election to be held on November 4, 2014
and the placing on the ballot of these measure and the conduct of the election. In all
respects, the election shall be held and conducted as provided for by applicable law,
including resolutions. The City Clerk is authorized and directed to procure and furnish
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any official ballots, notices, printed materials and all supplies or equipment that may be
necessary in order to properly and lawfully conduct the election.
SECTION 8. The City Clerk shall certify to the adoption of this Resolution, and
thenceforth the thereafter the same shall be in full force and effect.
APPROVED AS TO FORM:
t " l,.
MA SHA d� ESC OUTRIE
City to e i
Adopted and approved this 8th day of July, 2014.
i
Pam O'Connor, Mayor
I, Sarah P. Gorman, City Clerk of the Ci y of Santa Monica, do hereby certify that.
the foregoing Resolution No. 10823 (CCS) was duly adopted at a meeting of the Santa
Monica City Council held on the 0h day of July, 2014, by the following vote:
I_\' /_
NOES:
ABSENT:
Councilmembers: Davis, McKeown, Vazquez, Winterer, Holbrook
Mayor O'Connor
Councilmember: None
Councilmember: Mayor Pro Tom O'Day
ATTEST: + n
Sarah P. Gorman, City Clerk