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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 Information <br /> Project Address and Council Ward 1921 W. Washington Blvd —Ward 5 <br /> Nearest Intersection Washington Street& English Street <br /> General Plan Designation Low Density Residential (LR-7) <br /> Zoning Designation Two-Family Residence (R-2) <br /> Surrounding Land Uses North Single-Family Residential <br /> East Multi-Family Residential <br /> South Single-Family Residential <br /> West Multi-Family Residential <br /> Property Size 0.37-acres (16,109 square feet) <br /> Existing Site Development Vacant (demolition permits finalized on 1/26/24) <br /> Use Permissions Two-Family Residential (R-2) <br /> Uses Article XVI.I (Density Bonus); SAMC <br /> Zoning Code Sections Affected Section 41-247 <br /> Development Two-Family Residential (R-2) <br /> Standards <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 /> City Council 12 — 3 7/16/2024 <br />