60A - SENIOR RENTAL DENSITY BONUS

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1.2.1 Exhibit A — Legal Description of the Property 1.2.2 Exhibit B — Tenant Verification 2. DEVELOPMENT OF THE PROPERTY 2.1 Project. Developer shall develop, operate, and maintain the Property as a four - hundred and eighteen (418) Unit affordable senior residential rental community, with four -hundred and fifteen (415) Affordable Units and three 3 Unrestricted Units. 2.2 Density Bonus. The Project shall have four -hundred and eighteen (418) Units, to be rented, occupied, operated, and maintained pursuant to the terms and conditions of this Agreement. Developer understands and agrees that Developer is utilizing a twenty percent (20%) density bonus increase provided by the State Density Bonus Law CZ85 Base Units x 20% = 57 State Density Bonus Units), as well as a thirty-five percent (35%) density bonus provided by the City's Housing Opportunity Ordinance 285 Base Units x 35% = 100 City Density Bonus Units). However, Developer is only proposing four -hundred and eighteen (418) Units, so Developer shall not construct or develop, or otherwise claim a right to construct or develop, more than one -hundred and thirty-three (133) State and/or City Density Bonus Units on the Property. 2.3 Development Concessions and Incentives. As set forth in the City entitlements, Developer petitioned for and was granted the following concessions and incentives as part of the approval of Site Plan Review No. 2017-08 for the Project: 2.3.1 TheaP rking requirements for the Project shall be reduced in accordance with Government Code Section 65915(p), such that the total of all parking spaces required for the Project shall not exceed 213 spaces. 2.3.2 The open space requirement calculation shall be reduced from 15% of total lot area to 3.6% of total lot area. 2.3.3 The building side yard setback requirement shall be amended from a maximum of ten (10) feet to a maximum of forty-one (41) feet. The building rear yard setback requirement shall be amended from a minimum of one hundred (100) feet to a minimum of thirty- three 33 feet. 2.3.4 The driveway width requirement shall be increased from a maximum of twenty-four (24) feet to twenty-five to twenty-eight (25-28) feet. 2.4 In exercising the rights granted to the developer under AB 744 the parking requirements for the Project shall be reduced in accordance with Government Code Section 65915(p), such that the total of all parking spaces for required for the Project shall not exceed 213 spaces. 2.5 No Further Concessions or Incentives. Developer acknowledges and agrees that the waivers and incentives set forth in section 2.3 above fully satisfy any duty City may have under 60A-11