ITEM 6-E

Council Mtg: July 12, 1994         Santa Monica, California

TO:       Mayor and City Council

FROM:     City Staff

SUBJECT:  Recommendation to Adopt Resolution Approving Final Map
          for Tenant-Participating Conversion TPC-224 at 1235
          24th Street.                         

INTRODUCTION

This report transmits for City Council approval a Final Map for
the following Tenant-Participating Conversion project:

Parcel No.  TPC NO.   ADDRESS            OWNER             UNITS

21879       224       1235 24th Street   M. Guirguis       4    

BACKGROUND

The City Planning Commission approved the Tentative Map and the
Tenant-Participating Conversion for the above project on  July 8,
1992, after a public hearing and a careful review of the record
and staff recommendations.  The action of the Planning Commission
was based on the Commission's findings that the proposed Tenant-
Participating Conversion meets the requirements of Article XX of
the City Charter and that the proposed subdivision is consistent
with applicable general and specific plans as adopted by the City
of Santa Monica along with all mandatory requirements of the
Subdivision Map Act of the State of California.

The owners have submitted to the City a Written Consent Agreement
binding the owners and any successors in interest to each
condition imposed in connection with approval of this
Tenant-Participating Conversion.  This Written Consent has been
approved by the City Attorney and the City Manager.  Each
participating tenant has been informed in writing of his or her
rights under Article XX of the City Charter.  The License
Division reports that proper arrangements have been made to
ensure payment of the Tenant-Participating Conversion Tax.

The Final Map conforms to the Tentative Map.  The Final Map has
been certified by the City Engineer for conformance with the
Tentative Map and conditions thereon, the Subdivision Map Act and
local ordinances.  The City Attorney's office has approved a
Declaration of Covenants, Conditions, and Restrictions, or
equivalent document, for this project as complying with the
conditions of the Tentative Map and the Tenant-Participating
Conversion.

Council approval of a final map for a Tenant-Participating
Conversion represents one of the last steps necessary in the
conversion process.  Following City Council action and approval
by the California Department of Real Estate the applicants may
begin selling their units to the tenants.  As each unit is sold a
conversion tax per Section 2008 of Article XX is due in an amount
equal to twelve times the monthly maximum allowable rent for that
unit.  These taxes will be used to assist low and moderate income
households to purchase or improve their units subject to
affordable repayment per Section 2009 of Article XX.

BUDGET/FISCAL IMPACT

The recommendation presented in this report does not have an
immediate budget or fiscal impact.  If and as units in the
project are sold in the future, Tenant-Participating Conversion
Taxes will be collected pursuant to the provisions of Article XX
of the City Charter and some increased property tax revenues may
be generated.

RECOMMENDATION

It is respectfully recommended that the Final Map for this
Tenant-Participating Conversion be approved by adoption of the
accompanying resolution.

Prepared by:  Suzanne Frick, Director of LUTM
              D. Kenyon Webster, Planning Manager 
              Drummond Buckley, Associate Planner
              Planning and Zoning Division
              Planning and Community Development Department


                  RESOLUTION NO.    (CCS)

                   (City Council Series)

                                
               A RESOLUTION OF THE CITY COUNCIL
                  OF THE CITY OF SANTA MONICA
                    ACCEPTING AND APPROVING
        A FINAL SUBDIVISION MAP FOR PARCEL NO. 21879  
                     AT 1235 24TH STREET

   THE CITY COUNCIL OF THE CITY OF SANTA MONICA DOES RESOLVE AS
FOLLOWS:

   SECTION 1.  That the Final Map for Parcel No. 21879 in the
City of Santa Monica hereby is accepted and approved.

   SECTION 2.  That the City Clerk hereby is authorized and
directed to endorse upon the face of said Map this order
authenticated by the Seal of the City of Santa Monica.

   SECTION 3.  That 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:

                           
MARSHA JONES MOUTRIE
City Attorney