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Density Bonus Agreement for 2110, 2114, and 2020 East First Street <br />July 16, 2019 <br />Page 3 <br />Ordinance, rental units in such developments that are designated "affordable" must remain so for <br />at least 55 years. For affordable housing projects, a developer may seek a density bonus up to 20 <br />percent from base density. In addition, the City's HOO, last updated in November 2015, augments <br />the California Density Bonus Law by allowing a developer to seek an additional 35 percent density <br />bonus calculated from base density (SAMC Sec. 41-1904.1). A summary of the project's proposed <br />density calculation is provided below: <br />Project Density Calculation <br />Densd =o�.Bonus <br />>��*r � _Allovueddfot�Pro ect <br />P„roviiJi:d <br />620 units (6.89 acres x 90 units/acre <br />base density used as a standard for <br />Base Density <br />developments in areas designated <br />552 units <br />DC by the General Plan Land Use <br />element <br />35-Percent State Density Bonus <br />+217 units 620 x 0.35 <br />0 <br />35-Percent Bonus Provided by the <br />+217 units (620 x 0.35) <br />0 <br />Housing Opportunity Ordinance <br />Total Units <br />1054 units maximum <br />552 units proposed <br />Although the Project is proposing a total number of units (552) that is below the maximum City - <br />prescribed density for the Project site based on its acreage (620 units), the developer is able to <br />seek up to three (3) density bonus concessions and a waiver because it is a 100-percent affordable <br />Project. The three (3) requested concessions and the waiver are permitted by State Density Bonus <br />Law. Specifically, the developer is seeking concessions allowed pursuant to Government Code <br />section 65915(d)(1) as listed above pertaining to: publicly accessible open space; building <br />setbacks; and, residential parking; as well as a waiver allowed pursuant to Government Code <br />section 65915(e)(1) pertaining to driveway width. In order to receive these three (3) density bonus <br />concessions and a waiver, the Developer has agreed to restrict all units in the Project, except for <br />five (5) manager's units, to eligible low- and very low-income households. <br />Based on the above calculations, the proposed Project complies with both the California Density <br />Bonus Law and the City's Housing Opportunity Ordinance. As such, a Density Bonus Agreement <br />has been prepared (Exhibit 1). The Developer has paid the City's Density Bonus setup fee in the <br />amount of $82,084.05 to prepare this agreement. The Planning Commission Staff Report from <br />June 4, 2018 provides much more detailed information regarding the requested <br />incentives/concessions (Exhibit 2). <br />Key Items in the Density Bonus Agreement <br />The following is a list of key items agreed upon in the Density Bonus Agreement: <br />The Project shall have no less than five -hundred and fifty-two (552) units which shall be <br />comprised of twenty-seven (27) one -bedroom units, and two -hundred and thirty-nine (239) <br />two -bedroom units, and one -hundred and forty-six (146) three -bedroom units, and one - <br />hundred and forty (140) four -bedroom units, of which five (5) unrestricted units (i.e. <br />manager's unit) with unit sizes as may be determined by the Developer. The affordable <br />units shall be restricted to use an occupancy by eligible households for a total period of no <br />less than fifty-five (55) years including: <br />o No less than fifty-six (56) affordable units in the Project shall at all times during the <br />60A-3 <br />