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Habitat for Humanity of Orange County Affordable Ownership Units <br />July 16, 2024 <br />Page 3 <br />o The initial disbursement of $1,980,000 may be disbursed after the <br />Regulatory Agreement is recorded, insurance is provided, and the grading <br />permit is ready to issue. <br />o The final disbursement of $220,000 will be disbursed after the Project is <br />completed, the Certificate of Occupancy is issued, and each home is <br />successfully sold to a low-income family. <br />The Conditional Grant Agreement has been signed by Habitat for Humanity to <br />acknowledge their acceptance of the terms. <br />Density Bonus Agreement <br />The Density Bonus Agreement is attached as Exhibit 3 and was approved unanimously <br />by the Planning Commission on June 10, 2024. <br />Table 1: Project and Location Information <br />Item <br />Information <br />Project Address and Council Ward <br />1921 W. Washington Blvd — Ward 5 <br />Nearest Intersection <br />Washington Street & English Street <br />General Plan Designation <br />Low Density Residential LR-7 <br />Zoning Designation <br />Two -Family Residence R-2 <br />Surrounding Land Uses <br />North <br />Single -Family Residential <br />East <br />Multi -Family Residential <br />South <br />Single -Family Residential <br />West <br />Multi -Family Residential <br />Property Size <br />0.37-acres 16,109 square feet <br />Existing Site Development <br />Vacant demolition permits finalized on 1/26/24 <br />Use Permissions <br />Two -Family Residential R-2 <br />Zoning Code Sections Affected <br />Uses <br />Article XVI.I (Density Bonus); SAMC <br />Section 41-247 <br />Development <br />Standards <br />Two -Family Residential (R-2) <br />The California Density Bonus (Government Code § 65915 et seq.) law allows <br />developers proposing five or more residential units, as well as other projects, such as <br />common interest developments under Civil Code § 4100, to increase density of on -site <br />housing units in exchange for developing affordable units on site. To help make <br />constructing on -site affordable units feasible, the law allows developers to seek up to <br />five incentives/concessions and an unlimited number of waivers that facilitate production <br />of units, which are essentially variances from development standards that would help <br />the project be built without significant burden and without detriment to public health. The <br />first version of the Density Bonus Law was adopted in 1979 and has since been <br />amended at various times and places the onus on local jurisdictions to prove that the <br />incentives/concessions or waivers requested by a developer are not warranted. <br />Pursuant to the California Density Bonus law, a project's affordability level is determined <br />by dividing the number of proposed affordable units by the allowable "base" density (i.e., <br />