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AHSC Resolution, Density Bonus Agreement, and Mitigated Negative Declaration February 5, 2019 Page 4 on Santiago Street between Civic Center Boulevard and the Santa Ana Regional Transportation Center (SARTC), and pedestrian and mobility improvements as shown on the map in Exhibit 3. The project is consistent with the goals set forth in the Southern California Association of Governments' 2012-2035 Regional Transportation Plan/Sustainable Communities Strategy, which places great importance on sustainable and smart growth, as well as the interconnectivity of land use and transportation planning. The Resolution supports the submission of an application for funding under the AHSC Program (Exhibit 1). Contingent on the award of funds, the resolution authorizes the City Manager to enter into an agreement with the Developer to utilize those AHSC funds in an amount up to $3,081,360 to develop the surrounding transportation -related improvements around the Project. The AHSC Implementation Agreement is a minimum threshold requirement for the AHSC application (Exhibit 2). The remaining $453,129 is allocated to transit programs and transit -related amenities to build and operate a bicycle kiosk, car share program, three (3) years of transit passes for each household, and onsite urban greening components. Density Bonus Agreement National CORE requires approval of a Density Bonus Agreement (DBA) to allow the construction of Legacy Square (Exhibit 4). The Planning Commission recommended approval of the Density Bonus Agreement on January 14, 2019 by a vote of 5:2 (Commissioner Nguyen and Cano opposed) (Exhibit 5). As proposed, the project will take advantage of waivers from development standards and/or development concessions pursuant to California Government Code sections 65915 through 65918 and Santa Ana Municipal Code (SAMC) Section 41-1600 through 41-1607. The request satisfies the purpose and intent of the Transit Zoning Code (TZC) to promote a pedestrian -oriented environment with a mix of land uses and will provide additional affordable housing stock to an underserved segment of the region's population. The project is proposed to be entirely affordable with ninety-two (92) units available to households earning less than 60 -percent of the Area Median Income (AMI). The last remaining unit will be a dedicated manager's unit. Table 1 provides a complete breakdown of the unit affordability mix proposed by the developer for the project: Table 1: Unit Affordability Mix 75A-4 Permanent Extremely Low - Supportive Low- Very Low Income Housing - Income - Income —60% Total 30% AMI 30% AMI 50 /o AMI AMI 1 -bedroom 30 30 2 -bedroom 3 6 20 12 41 3 -bedroom 5 11 5 21 3 -bedroom Manager I i i 1 Total 1 33 1 11 1 31 17 93 75A-4