SR-10-27-2015-3A
City Council
Report
City Council Regular Meeting: October 27, 2015
Agenda Item: 3.A
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To: Mayor and City Council
From: David Martin, Director, Planning and Community Development, Development
Services (PCD)
Subject: Resolution Approving Final Tract Map No. 66145 for a 122 Residential Unit
and One Commercial Unit Condominium Project at 525 Broadway.
Recommended Action
Staff recommends that the City Council adopt the attached resolution approving Final
Tract Map No. 66145.
Executive Summary
This report transmits for City Council approval a Final Tract Map for the following
condominium project. The Vesting Tentative Tract Map was approved by the Planning
Commission on April 20, 2011.
TRACT MAP ADDRESS SUBDIVIDER UNITS
No. 66145 525 Broadway PRU/JSM Trino LLC 123
Background
On November 14, 2007, the Planning Commission initially authorized the project,
approving Development Review 06DR-003, Design Compatibility Permit 06DCP-002,
and Vesting Tentative Map 06-005 to construct a mixed-use development with 125
residential condominium units, 7,520 square feet of commercial spaces, four
subterranean parking levels, and 10, 2 bedroom very-low income off-site units at 1437
5th Street. Prior to expiration of these permits, the applicant submitted and received
approval of an administrative extension for the Development Review and Design
Compatibility Permit. Subsequently, in 2011, the applicant received Planning
Commission approval of a further project extension, with the Commission approving
Development Review 09DR-006 and Design Compatibility Permit 09DCP-002
authorizing a two year extension of the project entitlements. The tentative tract map
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remained valid during this period due to State law extensions for vesting tentative tract
maps.
On February 27, 2012 the City approved a minor modification to change the
development from a 125 unit condominium project to a 122 unit condominium project
with ground floor commercial space and three levels of subterranean parking.
On July 18, 2012, the owner of the property recorded a “Declaration of Covenant s,
Conditions, and Restrictions” on the property, which forbids any owner of the property
from converting the residential rental units to condominium units for a period of 20
years, ending July 18, 2032. If a “Converting Owner” breaks the contract and con verts
a rental unit into a for-sale unit, that person shall hold the property owner harmless from
any losses, liabilities, claims, and causes of action due to the breach of contract.
Subsequently, in a letter dated August 31, 2012, the City of Santa Monic a approved the
applicant’s request to modify conditions of Approval No. 10, 34, and 55 and allow the
developer to record the Final Map and receive CC&R approvals prior to issuance of
Certificate of Occupancy rather than prior to building permit issuance. Presently, the
project is constructed and approximately 50% tenant occupied according to the project
applicant.
Discussion
After a public hearing and careful review of the record and staff recommendations, the
Planning Commission approved a Tentative Tract Map for the above project on
November 14, 2007. The action of the Planning Commission was based on its findings
that an Environmental Impact Report was prepared in accordance with the California
Environmental Quality Act Guidelines and was certified on November 14, 2007 by
Resolution 07-002 and is in conformance with all state and local laws and regulations,
and applicable General Plan Elements.
The Final Map conforms to the Vesting Tentative Map approved by the Planning
Commission. The developer will be required to show proof of payment of the
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condominium tax of $123,000 prior to recordation of the Final Map. The Final Map has
been approved by the Los Angeles County Engineer’s office and certified by the City
Engineer for conformance with the Tentat ive Map and conditions thereon, the
Subdivision Map Act and local ordinances. The City Engineer’s office indicates that
there are no required off -site public improvements. The City Attorney's office has
approved the Covenants, Conditions and Restrictions for the Final Map as complying
with the conditions of the Tentative Map and applicable laws. While the Final Map will
authorize the property’s subdivision, the units must remain rental units until 2032, per
the recorded agreement.
Financial Impacts & Budget Actions
There is no immediate financial impact or budget action necessary as a result of the
recommended action.
Prepared By: Dennis Banks, Associate Planner
Approved
Forwarded to Council
Attachments:
A. Resolution
Reference:
Resolution No. 10196
(CCS)