60A - SENIOR RENTAL DENSITY BONUS

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EXHIBIT 2 SPR No. 2017-08/DBA No. 2017-01 September 11, 2017 Page 6 Reduction of onsite Will the reduction In required AB 744 allows senior affordable residential projects whose parking proposed on-site parking, as permitted residents are aged 62 or older to provide a parking rate of 0.5 through AB 744 by AB 744, affect the success spaces per residential unit. Staff has analyzed the proposed of the project or impact the project, which exercises its right under AB 744, and finds that surrounding community? there is potential that the project and neighborhood may be impacted by the reduced parking. The City has identified the MEMU area for high-intensity, mixed use development in order to reduce demands for parking and traffic impacts. However, the MEMU area is still in transition, and portions including the project site have yet to redevelop and produce the pedestrian -scale environment envisioned by the document. To mitigate these impacts, staff has added a condition of approval requiring the developer to enter into an agreement with a property within 500 feet of the project site to provide additional guest and/or resident parking during off- peak limes. Density Bonus Agreement The California Density Bonus Law applies to projects proposing five or more residential units and grants density bonuses to those meeting certain requirements for affordability levels and types of housing (family, veterans, etc.). Rental units in such developments that are designated "affordable" must remain so for at least 55 years. For affordable senior housing projects, a developer may seek a density bonus up to 20 percent from base density. The City's Housing Opportunity Ordinance (HOO), last updated in 2015, augments the density bonus concept by allowing a developer to seek an additional 35 percent density bonus calculated from base density (SAMC Sec. 41-1904.1). A summary of the proposed project's density calculation is provided in Table 4: Project Density Calculation. Table 4: Project Density Calculation Density orBonus Allowed for Project Provided Base Density 285 units (3.17 acres x 90 unitslacre _ 285 units base density used as a standard for developments in areas designated DC by the General Pian Land Use element) 3 20 -Percent Bonus for Senior Projects 1 +57 units 285 x 0.20 +57 units l 35 -Percent Bonus Provided by the +100 units (285 x 0.35) +77 units HOO Total Units 442 units maximum "419 units proposed Under the state's Density Bonus Law, a developer may seek incentives or waivers (sometimes called concessions) to increase the viability of the proposed project. Revisions to the Density Bonus Law, as recent as January 2017, allow developers to seek an unlimited number of waivers from development standards insofar as such waivers are not detrimental to public health or safety, do not negatively 1 a EXHIBIT 2 6dK46