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RECORDING REQUESTED BY: AND WHEN RECORDED MAIL TO: City of Santa Ana Clerk of the Council 20 Civic Center Plaza (M-30) P.O. Box 1988 Santa Ana, California 92702 Attention: Clerk of the Council Recorded in Official Records, Orange County Hugh Nguyen, Clerk -Recorder ��IIII�II�III��II��I�II�III�I��IIII��II�I�IIIII��II�� NO FEE *$ R 0 0 1 4 9 3 3 1 2 4$ 202400011447311:13 am 05/08124 489RWIAA12 39 0.00 0.00 0.00 0.00 114.00 0.00 0.000.000.00 0.00 Return FULLY EXECUTED Free Recordingpurmant to O'C� l ) Government Code 27383 INSURANCE NOT REQUIRED Copy to City Clerk, M-30 I Y WORK MAY PROCEED DENSITY BONUS HOUSING AGREEMENT A-2022-238 (C.Srtaw) � CITY CLERK 1 bBATE: This DENSITY BONUS HOUSING AGREEMENT ("Agreement") is made and entered NF into this 6th day of December, 2022 , by and between the City of Santa Ana, a charter city and G municipal corporation of the State of California ("City"), and Toll West Coast, LLC, a Delaware m limited liability company ("Developer"). City and Developer are sometimes herein referred to o collectively as the "Parties" and individually as a "Party." a RECITALS A. Developer is the owner of certain property located within the City of Santa Ana, County of Orange, State of California, commonly known as 717 S. Lyon Street, Santa Ana, California, and legally described as set forth in Exhibit A attached hereto and incorporated herein by this reference as if set forth in fall ("Property"). B. Developer acquired the Property as a successor in interest to the former owner, Orange County Electrical Joint Apprenticeship Trust. Warmington Residential California, Inc. a California corporation, applied for permits for development of the Property and secured entitlements for the Project. Developer represents and warrants that, upon execution of this Agreement, in accordance with the Assignment and Assumption Agreement delivered by Developer to City, Developer has all legal title to the Property, and has been assigned or otherwise transferred all rights and interests in the Property to construct, develop and operate the Project in accordance with the terms and conditions set forth herein. Developer is proposing to develop a community composed of fifty-one (51) single-family attached townhome condominiums, eight (8) of which are proposed as low-income affordable units, on the Property, as more particularly set forth in Density Bonus Application No. 2022-03 ("Project"). Without the density bonuses, Developer would only be permitted to build thirty-five (35) units on the Property. C. Santa Ana Municipal Code sections 41-1600, et seq. ("City Density Bonus for Affordable Housing"), and California Government Code sections 65915, et seq. ("State Density Bonus Law"), set forth a process to provide increased residential densities to property owners 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. These regulations are intended to materially assist the housing industry in providing adequate and affordable housing for all 1