R-7812
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RESOLUTION NO. 7812 (CCS)
(CITY COUNCIL SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA MONICA
AUTHORIZING AN AGREEMENT TO SELL AIR RIGHTS OVER PROPERTY AT
1116-46 FOURTH STREET TO RETIREMENT HOUSING FOUNDATION
WHEREAS, the city of Santa Monica (hereinafter "City") owns
the property at 1116-46 Fourth Street which is commonly known as
Parking Lot Four (hereinafter "Property"); and
WHEREAS, Retirement Housing Foundation ("miF") will submit
an application to the United states Department of Housing and
Urban Development (HUD) for a section 202/8 loan to develop
senior housing units; and
WHEREAS, RHF desires to enter into an option Agreement with
the city to purchase the air rights over the property for the HUD
senior housing units; and
WHEREAS, the development of housing units in the air rights
over the Property would be compatible with maintaining at least
the existing number of public parking spaces for parking
purposes; and
WHEREAS, the city desires to sell the air rights over the
Property to RHF for purposes of developing senior housing; and
WHEREAS, the City has caused the notice of such intent to
sell air rights to be published in a local newspaper and posted
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notice on the Property providing information on the date and time
of a public hearing; and
WHEREAS, the City Council has held a pUblic hearing at 7:30
p.m. on May 23, 1989 to hear from the public on the proposed sale
of air rights.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA MONICA
DOES RESOLVE AS FOLLOWS:
SECTION 1. The City agrees to sell the air rights over the
Property to RHF and this is the final authorization to proceed
with the proposed project SUbject to:
A. Receipt of funding commitment from HUD for a section
202/8 loan for development of 67 units of senior housing in the
air rights over the Property.
B. Determination by the City Council that the desired
public parking facility for the site can be constructed in
conjunction with the senior housing.
C. Compliance with the provisions of the california
Environmental Quality Act.
D. Execution of a Development and Disposition Agreement
between the City and RHF.
SECTION 2. The city agrees to provide up to $1,200,000 to
pay for those development costs for items required by the city
but not included in the section 202/8 Loan, including structured
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parking, amenities, and other cost-containment items that HUD may
identify, subject to:
A. RHF I S receipt of a funding commitment from HUD for a
Section 202/8 Loan for development of senior housing in the air
rights over the Property.
B. Determination by the
public parking facility for
city Council
the site can
that the desired
be constructed in
conjunction with the senior housing.
C. Execution of a Development and Disposition Agreement
between the City and RHF.
SECTION 3. Upon receipt of a funding commitment from HUD
for a section 202/8 loan for development of 67 units of senior
housing in the air rights over the Property and compliance with
the provisions of the California Environmental Quality Act, the
city Manager is authorized to negotiate and execute a Development
and Disposition Agreement between the City and RHF.
SECTION 4. Municipal Code Section 2508A provides that the
sale of real property shall be by notice inviting bids unless the
city Council finds that advertising for bids would not be in the
best interests of the City. The City Council finds that
advertising for bids would not be in the best interests of the
City because:
(1) The City has determined that the development of rental
housing units for low-income seniors is of benefit to the City of
Santa Monica;
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(2) The city has identified the HUD Section 202/8 loan
program as the most suitable source of funding necessary in order
to develop such housing, and this funding is available only to
qualified non-profit developers; and
(3) The City has found RHF to be the most suitably
qualified non-profit developer, with experience in working with
the HUD section 202/8 loan program, to develop such housing in
Santa Monica.
SECTION 5. 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:
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Robert M. Myers
City Attorney
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Adopted and approved this 23rd day of May, 1989.
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Mayor J
I hereby certify that the foregoing Resolution No. 7812(CCS)
was duly adopted by the City Council of the City of Santa Monica
at a meeting thereof held on May 23, 1989 by the following
Council vote:
Ayes:
Councilmembers:
Abdo, Finkel, Jennings, Katz,
Reed, Mayor Zane
Noes: Councilmembers:
Reed
Abstain: Councilmembers:
None
Absent: Councilmembers:
Genser
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ATTEST:
CL~j..A;{ ~
Deputy ClFY CLer~