Unbundled Parking

From the Santa Monica Municipal Code 9.28.110: Unbundled parking is the practice of selling or leasing parking spaces separate from the purchase or lease of the commercial or residential use. A. Applicability. 1. Residential Projects. All off-street parking spaces in new residential structures of 4 dwelling units or more, or in new conversions of nonresidential buildings to residential use of 10 dwelling units or more as shown in Figure 9.28.110, Areas Requiring Unbundled Parking, shall be leased or sold separately from the rental or purchase fees. This provision shall only become effective if SMMC Chapter 3.08, Preferential Parking Zones, or any successor thereto, is amended to establish this requirement. 2. 100% Affordable Housing Projects. 100% Affordable Housing Projects shall be exempt from this provision. 3. Nonresidential Projects. All off-street parking spaces associated with new nonresidential projects as shown in Figure 9.28.110, Areas Requiring Unbundled Parking shall be leased or sold separately from the rental or purchase fees. 4. Notwithstanding the above, the unbundling requirements set forth in this Section may become optional and not mandatory, if, to the extent legally feasible, the City imposes substitute measures which would achieve a comparable level of vehicle trip reduction. FIGURE 9.28.110: AREAS REQUIRING UNBUNDLED PARKING B. Requirements. 1. All off-street parking spaces shall be unbundled from the dwelling units for the life of the dwelling units. 2. Residential units of 3 or more bedrooms shall have 1 parking space bundled with the lease or ownership of the unit for the life of the development. 3. For deed-restricted affordable units, the tenant may choose to either receive 1 parking space, which shall be included within the unit’s affordable rent level, or receive a rent discount equivalent to half the amount charged for monthly lease of a parking space, in exchange for not receiving a parking space. Tenants of affordable units shall not be permitted to sublease their parking spaces. 4. All commercial parking spaces associated with new development shall be unbundled from the cost of a leased commercial space, and the cost of the parking space shall be included as a separate line item in the commercial space lease. C. Use of Unbundled Spaces. Owners or lease holders have the right of first refusal to parking spaces built for their unit or use. Remaining residential unbundled parking spaces that are not leased or sold to on-site users built for their unit or use may be leased to other on-site users or to off-site residential users on a month-to-month basis. Remaining commercial unbundled parking spaces that are not leased or sold to on-site users may be leased to other on-site users or to off-site residential or commercial users on a month-to-month basis. D. Reoccupancy of Use. New owners or leaseholders shall have the opportunity to lease or purchase parking spaces built for their unit or use upon occupancy of the commercial or residential use. (Added by Ord. No. 2486CCS §§ 1, 2, adopted June 23, 2015)