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Site Plan ReviewNo. 2019-01and Density Bonus Agreement No. 2019-01–Fourth and Main <br />Mixed-Use Residential and Commercial Development <br />November 19, 2019 <br />Page 7 <br />1602(c)(5) requires that affordable units provided as part of a density bonus be “comparable” to <br />any market rate units in the project. <br />The proposed project complies with both the California Density Bonus Law and the City’s Density <br />Bonusfor Affordable Housing Ordinance. As such, a Density Bonus Agreement has been <br />prepared (Exhibit 4). The Developer has paid the City’s Density Bonus Setup fee in the amount <br />of $65,128.47 to prepare this agreement. <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 />Affordable Units. The Project shall have eleven (11) affordable unitswhich shall be <br />comprised of three (3) studio units, (4)one-bedroom units, and four (4)two-bedroom units. <br />The affordable unitsshall be restricted to use and occupancy by eligible householdsfor a <br />total period of no less than fifty-five (55) yearsincluding: <br />o The affordable units in the Project shall at all times during the term of the <br />Agreementbe rented to very low-income tenantsat 50% Area Median Income <br />(AMI). <br />Affordable Rent Schedule. The affordable rents shall be created in accordance with the <br />Orange County, CaliforniaPrimary Metropolitan Statistical Area (“PMSA”)as published by <br />the California Department of Housing and Community Development (“HCD”), adjusted for <br />family size, and shall be updated no less than annually. <br />Marketing and Resident Selection Plan.Developer shall prepare and obtain City’s <br />approval a marketing program and resident selection plan for the leasing of the affordable <br />units at the projectprior to occupancy. <br />Selection of Tenants.The Developer shall give preference in leasing units to households <br />that live and/or work in the City of Santa Ana or who have an active Housing Choice <br />Voucher issued by the Housing Authority of the City of Santa Ana or any other Public <br />Housing Authority. Implementation of the preference will be monitored by staff in the <br />Community Development Agency. <br />Monitoring.Developeragrees to pay a reasonable feefor the City’s obligation to monitor <br />Owner’s compliance with the affordability restrictions contained in theAgreement. <br />Rental Lease Agreement. Developer shall prepare and obtain City’s approval of a rental <br />lease agreement consistent with the terms contained in this Density Bonus Agreement. <br />Onsite Parking Management Plan.Developer has provided a parking management plan <br />attached to the agreement. <br />The Density Bonus Agreement hasbeensigned by the Developer to acknowledge their <br />acceptance of the terms. The Agreement is not considered final until the City Council has <br />reviewed and approved the Agreement and the Agreement is executed by all parties. <br />Onsite Parking <br />The City has identified the Transit Zoning Codearea for high-intensity, mixed use development in <br />order to reduce demands for parking and traffic impacts. To address community concerns regarding <br /> <br />