Item 03 - Pre-Commitment of Affordable Housing Funds for Jamboree Housing

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Pre-Commitment of Affordable Housing Funds for Jamboree Housing Corporation and WISEPlace; Density Bonus Agreement; Loan Forgiveness June 21, 2022 Page 10 2 8 1 6 Standard Required Provided Requires Concession (2 of 3), Cal. Gov’t Code Sec. 65915 (d)(1)(2)(B) As designed, the Project is eligible to exercise its ability to seek State density bonus incentives and/or concessions because it is a 100-percent affordable project for permanent supportive housing. However, the Project does not seek an increase in allowable dwelling units as the Project is designed as an adaptive reuse project. Pursuant to Article XVI.II (Adaptive Reuse) in the SAMC, adaptive reuse projects can exceed the maximum general plan density provided the adaptive reuse project complies with the development standards. In addition, the site is parked in compliance with California Government Code Section Cal. 65915 (p)(4). Pursuant to the California Density Bonus Law, and upon the request of the developer, a City cannot impose any minimum vehicular parking requirement for a rental supportive housing development, as defined in Section 50675.14 of the California Health and Safety Code. Although not required to provide parking, the site provides twenty (20) total parking spaces, or 0.42 spaces per unit, which includes two accessible parking stalls. Lastly, pursuant to the adaptive reuse ordinance, parking spaces are not required for any converted use within the building. Therefore, no parking is required for the administrative/residential portions of the converted building within the one-story portion of the building. Key Terms in the Density Bonus Agreement The following is a list of key terms in the Density Bonus Agreement: Term of Agreement. The term of the Agreement shall commence on June 21, 2022 and shall continue until the date that is fifty-five (55) years after the City issues the last certificate of occupancy for the Project. Project. Developer shall develop, operate, and maintain, or cause the development, operation and maintenance of, the Property as a forty-eight (48) unit rental residential community, with forty-seven (47) Affordable Units for Extremely Low Income Tenants. Unit Mix. No less than forty-eight (48) Units, which shall be comprised of forty- seven (47) studio units designated as Affordable Units pursuant to the terms and conditions of the Agreement. Affordable Rent Schedule. The rents shall be the maximum Monthly Rent that may be charged to and paid by an Extremely-Low Income Tenant whose income does not exceed thirty (30%) of the area median income for Orange County. Selection of Tenants. Each Affordable Unit shall be leased to Eligible Households that are chronically homeless and document-ready individuals on the Coordinated Entry List. All residents will be referred from the County of Orange Coordinated Entry System. Developer shall give preference in leasing units to households that