2025-013 - Density Bonus Agreement for Townhome Developent

Home Browse Search

CITY COUNCIL DRAFT 1.1.41 "Unit" means a residential dwelling unit within the Project to be constructed or caused to be constructed by Developer. 1.1.42 "Unrestricted Units"means the Units within the Project to be constructed or caused to be constructed by Developer and sold at market rate without restriction. 1.2 Exhibits. The following documents are attached to, and by this reference made a part of,this Agreement: 1.2.1 Exhibit A: Legal Description of the Property 1.2.2 Exhibit B: Affordable Housing Resale Restrictions, Equity Sharing and Regulatory Agreement 1.2.3 Exhibit C: City Promissory Note 1.2.4 Exhibit D: City Deed of Trust 1.2.5 Exhibit E: Income Verification Form 1.2.6 Exhibit F: Certification of Continued Occupancy 1.2.7 Exhibit G: Notice of Affordability Restrictions on Transfer of Property 1.2.8 Exhibit H: Request for Default 1.2.9 Exhibit I: Affordable Sales Price 2. DEVELOPMENT OF THE PROPERTY 2.1 Project. Developer shall develop, operate, and maintain, or cause the development, operation and maintenance of, the Property as forty five (45) Units, with five (5) Affordable Units for Eligible Households and forty(40)Unrestricted Units in accordance with this Agreement and the Project Approvals.Notwithstanding anything to the contrary contained herein, in no event shall this Agreement apply to any of the Unrestricted Units and such Unrestricted Units shall not be subject to any of the covenants, restrictions, requirements, or provisions of this Agreement which are applicable to the Affordable Units and this Agreement shall not be recorded on the title of any of the Unrestricted Units. 2.2 Densi . Bonus. The Project shall have forty five (45) Units, to be sold, owned, occupied, operated, and maintained pursuant to the terms and conditions of this Agreement. Developer understands and agrees that Developer is not requesting an increase in density and that this Agreement does not allow or approve an increase in residential density over the allowed density regulations of the City. Developer shall not construct or develop, or otherwise claim a right to construct or develop any additional residential units on the Property under this Agreement. 2.3 Development Concessions, Incentives, and Waivers. As set forth in the City entitlements,Developer petitioned for and is hereby granted the following concessions,incentives, and waivers as part of the approval of Density Bonus Application: 2.3.1 Concession. In accordance with Government Code Section 65915(d)(1),the Project is granted one (1) concession for relief from City Municipal Code Section 41-592.3 and SP-2, Ch. 3, Frontyard/Porch Frontage Type Configuration Requirement, contained at 1, on Page 3-9, which would ordinarily require the Project provide porch dimensions as follows: a minimum Page 8 5 53 94.00 10 1\43 7215 67.2 Resolution No. 2025-013 Page 14 of 87