BALLOT TITLE AND SUMMARY
Prepared by the City Attorney

AN INITIATIVE AMENDING THE SANTA MONICA CITY CHARTER TO ESTABLISH PROCEDURES FOR CONVERTING APARTMENT BUILDINGS, TRAILER PARKS AND OTHER RENTAL HOUSING TO TENANT OWNERSHIP WHILE MAINTAINING EXISTING TENANCIES OF NONPURCHASING TENANTS

 
This measure would amend the City Charter adding authorization for converting rental housing to condominiums, stock cooperatives and other forms of common ownership and offering tenants the opportunity to purchase.  The procedures would apply to apartment buildings, trailer parks, and other residential rentals, including some single family homes.

An owner, tenant group in the process of purchasing the property, or tenant group which had already purchased could apply to convert.  The application would include, among other things:  sales price for each unit; plans for parking and common area usage; repairs and alterations to be completed before any sales; and, allocation of costs and expenses.  Tenants occupying 2/3 of the units or spaces would need to co-sign an owner's application.  A tenant group's application would require signatures of tenants occupying half the units or spaces.

Nonpurchasing tenants would receive an irrevocable lease addendum which would continue their tenancies, maintain local rent controls, and protect against evictions for owner occupancy but allow other "good cause" evictions under the Rent Control Law.  A senior tenant would have specified rights to name a successor tenant.

The measure would establish application processing time limits and procedures.  Resale controls and conversion fees in excess of specified amounts would be prohibited.  Converted buildings would be governed by building standards in effect at the time of their approval.  Specific provisions would govern and legalize converted "bootleg" units.  Any residential building, converted or not, which was destroyed by natural disaster could be rebuilt in its old form irrespective of current building standards.

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