60A - SENIOR RENTAL DENSITY BONUS

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RECORDING REQUESTED BY: AND WHEN RECORDED MAIL TO: City of Santa Ana Clerk of the Council 20 Civic Center Plaza (M-30) P.O. Box 1988 Santa Ana, California 92702 Attention: Clerk of the Council EXHIBIT 1 Free Recording pursuant to Government Code 27383 DENSITY BONUS HOUSING AGREEMENT This DENSITY BONUS HOUSING AGREEMENT ("Agreement"), made and entered into this 16°i day of October, 2018 ("Effective Date"), by and between the City of Santa Ana, a charter city and municipal corporation of the State of California ("City"), and -Santa Ana Senior Associates, a California Limited Partnership ("Developer"). City and Developer are sometimes referred to collectively as the "Parties" and individually as a "Party." RECITALS A. Developer is the owner of certain property located within the City of Santa Ana, County of Orange, State of California, commonly known as 2222 East First Street, Santa Ana, California, and legally described as set forth in Exhibit A attached hereto and incorporated herein by this reference as if set forth in full ("Property"). B. Developer is proposing to develop a four -hundred and eighteen (418) unit affordable senior apartment complex on the Property as more particularly set forth in Density Bonus Application No. 2017-01 and Site Plan Review No. 2017-08 ("Project"). Without the density bonuses, Developer would only be permitted to build two -hundred and eighty-five (285) units on the Property. C. Santa Ana Municipal Code sections 41-1600, et seq. ("City Density Bonus for Affordable Housing"), and California Government Code sections 65915, et seq. ("State Density Bonus Law"), set forth a process to provide increased residential densities to property owners who guarantee that a portion of their residential development will be available to low income, very low- income, or senior (also known as "qualified") households. These regulations are intended to materially assist the housing industry in providing adequate and affordable housing for all economic segments of the community and to provide a balance of housing opportunities for very low-income, low income and senior households throughout the city. D. Additionally, the City's Housing Opportunity Ordinance provides inclusionary housing development incentives for production of affordable units on-site. Specifically, Santa Ana Municipal Code section 41-1904.1 includes a density bonus concession up to a maximum of thirty- five percent (35%) to provide affordable housing options for residents of the City of Santa Ana. 60A-7