60A - 4TH AND MAIN MIX USE DEVELOPMENT

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SPR No. 2019-01/DBA No. 2019-01 — First American Title Co. Development October 28, 2019 Page 7 State Density Bonus Law Under the State's Density Bonus Law, developers of affordable family -oriented housing projects may request a numerical density bonus up to 35 percent from base density. The proposed development is to construct 11 very -low income affordable units, which does not require approval of a numeric density bonus but makes the project eligible to seek parking incentives pursuant to the California Government Code. Pursuant to SAMC Sec. 41-1600, the purpose of the City's ordinance is "to provide increased residential densities to developers 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." Moreover, "The regulations are intended to...provide a balance of housing opportunities for low income, very low-income, and senior households throughout the city." Mixed -income housing developments provide a "portion" of affordable units in an integrated, mixed - income development unless it is financially or physically infeasible to do so, in which case a developer may pay an in -lieu fee to facilitate construction of affordable housing developments offsite. The City's Housing Opportunity Ordinance's furthers this goal, stating that is purpose is to "encourage the development of housing that is affordable to a range of households with varying income levels" (SAMC Sec. 41-1900). The proposed mixed -use and mixed -income community satisfies these goals by providing onsite affordable units in a highly-amenitized development and in Downtown, reducing the need for automobile dependence and encouraging transit ridership, cycling, and walking. Onsite Parking The City has identified the Transit Zoning Code area for high -intensity, mixed use development in order to reduce demands for parking and traffic impacts. To address community concerns regarding the requested parking incentive pursuant to State Housing Law, the applicant prepared a parking study and parking management plan (PMP). As a result of the parking reduction requested, staff coordinated with the applicant to explore alternate options for providing additional offsite parking spaces, maximizing onsite parking spaces, and/or reducing parking demand on the project site. In response, Toll Brothers prepared a PMP that addresses incentives for reducing vehicle ownership, encouraging transit ridership, providing valet services onsite to maximize parking areas, and providing offsite parking spaces through long-term agreements with the City in nearby parking structures. The parking management plan indicates that, if needed, valet service for on -site vehicle stacking could create an additional 80 parking spaces, raising the total onsite parking spaces from 332 to 412. In addition, the PMP indicates that an additional 70 offsite parking spaces at a nearby City -owned parking structure could be leased on a long-term basis. When implemented, this results in an effective parking ratio of 1.83 parking spaces per residential unit with the onsite valet service, and 2.19 spaces per unit with the additional 70 offsite spaces, which exceeds the 2.15 per unit parking space requirement of the TZC. The proposed 1.51 initial, and 1.83 and 2.19 potential, parking space ratios are analyzed by a parking study submitted forthe project. The parking study indicates that both parking rates will result in surplus parking onsite due to a variety of factors, including the project's: Z I •.