Council Mtg: January 23, 1996                      Santa Monica, California


TO:       Mayor and City Council

FROM:     City Staff

SUBJECT:  Recommendation to Adopt Resolution Approving an Amended
          Final Map for Tenant-Participating Conversion TPC-170
          at 1021 12th Street.                         


INTRODUCTION

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

Tract No. TPC NO.   ADDRESS       OWNER         UNITS

50877     170       1021 12th     George &      23
                    Street        Peggy S.          
                                  Ferrell                         
BACKGROUND
City Council approved the Final Map for this project on July 12,
1994.  Prior to recordation, an increase in allowable rents
rendered the prior lien invalid.  The applicant has recorded a
Release of Prior Lien and an Agreement Creating a New Lien.  The
City Planning Commission approved the Tentative Map and the Ten-
ant-Participating Conversion for the above project on November
13, 1991, 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 Amended Final Map conforms to the Tentative Map.  The Amended
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 Amended Final Map for
this Tenant-Participating Conversion be approved by adoption of
the accompanying resolution.



Prepared by:Suzanne Frick, Director of PCD
            D. Kenyon Webster, Planning Manager 
            Susan Healy Keene, Acting 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
     AN AMENDED FINAL SUBDIVISION MAP FOR TRACT NO.50877  
                      AT 1021 12th STREET 



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


   SECTION 1.  That the Amended Final Map for Tract No.50877 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