R-9174
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City Council Meeting 8/12/97
Santa MOnica, California
RESOLUTION NUMBER 9174
(City Council Series)
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA MONICA ESTABLISHING
THE 1997-98 MAXIMUM ALLOWABLE RENTS AND
MAXIMUM ALLOWABLE PURCHASE PRICES
FOR THE INCLUSIONARY HOUSING PROGRAM
WHEREAS, the City Council of the City of Santa MOnica adopted Ordinance
Number 1615 (CCS) on March 3. 1992. Santa Monica MUnicipal Code Sections 9 28 ill..
seq ("the Incluslonary Housing Program"), and
WHEREAS, Santa Monica MUnicipal Code Section 928 100 provides that the
City CounCil by Resolution shall establish and adjust on an annual basIs the maximum
allowable rents and maximum allowable purchase pnces for Incluslonary Units under
the Incluslonary Housing Program
NOW. THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS
SECTION 1
The maximum allowable Income levels and maximum
allowable rents and maximum purchase prices for mcluslOnary Units under the
lncluslonary Housing Program are as shown In Exhibit 1 attached hereto and
Incorporated herein by reference
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SECTION 2 The City Clerk shall certify to the adoption of this Resolution,
and thenceforth and thereafter the same shall be In full force and effect
APPROVED AS TO FORM
h~~ ~ ~,<Ld~ ~~
Marsha Jon~;~:;;:e
City Attorney
F 'HOC~I'\;C:r'.S.HARFWPFILES"I'i:CLUSN\mc1us rents pnces resolutIOn "'..pd
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Adopted and approved thIs 12nd of August 1997
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"o'com;or, Mayor.
I. Mana r..,,1 Stewart. CIty Clerk of the Cny of Santa MOllica. do hereby certIfy that the
foregomg ResolutIOn 9174(CCS) was duly adopted at ameetmg of the CIty CouncIl held on the
12nd of August. 1997 by the follo\-v1.llg vote
Ayes
CouncIlmembers
Ebner. Femstem. Genser, Greenberg. Mayor Pro Tem
Holbrook. Mayor O'Connor. Rosenstem
Noes
CouncIlmembers
None
Abstam
CounCllmembers
None
Absent
CouncIlmembers
None
ATTEST
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Mana M Ste,vart. CIty Clerk