5. Consider introduction of Ordinance No. 742 (first reading), that addresses Ownership Conversions Affecting Apartments; Conversion Permits, amending the existing Condominium / Cooperative Conversion Ordinance found in CMC Chapter 14.74, and Resolution No. 5979, certifying that Ordinance No. 742 is intended to carry out the policies of the City’s certified Local Coastal Plan consistent with the California Coastal Act, and directing that the proposed Local Coastal Plan Amendment, a part of Ordinance No. 742, be transmitted to the California Coastal Commission for certification.