60A - DENSITY BONUS AFFORD RENT PROJ

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1.2 Exhibits. The following documents are attached to, and by this reference made a part of, this Agreement: 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 five - hundred and fifty-two (552) Unit affordable rental family -oriented mixed -use commercial and residential community. 2.2 Density Bonus. The Project shall have five -hundred and fifty-two (552) Units, to be rented, occupied, operated, and maintained pursuant to the terms and conditions of this Agreement. Developer understands and agrees that Developer is not utilizing a density bonus increase provided by the State Density Bonus Law or a density bonus provided by the City's Housing Opportunity Ordinance. However, Developer is only proposing five -hundred and fiftv- two 552 Units, so Developer shall not construct or develop, or otherwise claim a right to construct or develop any additional State and/or City Density Bonus Units on the Property. 2.3 Development Concessions and Waivers. As set forth in the City entitlements, Developer petitioned for and was granted the following concessions and waivers as part of the approval of Site Plan Review No. 2017-09 for the Project: 2.3.1 The residential parking requirements for the Project shall be reduced from two (2) spaces per unit overall to 1.03 spaces per unit. 2.3.2 The publicly accessible open space requirement calculation shall be reduced from 15% of total lot area to less than 2% of total lot area. 2.3.3 The building front yard setback requirement shall be amended from a minimum of twenty (20) feet to a minimum of six (6) feet. The building side yard setback requirement shall be amended from a minimum of ten (10) feet to a minimum of six (6) feet. The building rear yard setback requirement shall be amended from a minimum of one hundred (100) feet to a minimum of forty-five (45) feet. 2.3.4 The driveway width requirement shall be increased from a maximum of twenty-four (24) feet to thirty-eight to forty-six (38-46) 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 a total of 566 resident and guest parking spaces will be provided in an at -grade parking area beneath the residential levels, as well as 50 parking spaces for the commercial component and 4 spaces for the leasing office and the development's employees. 60A-7