Item 12 - Density Bonus Agreement No. 2025-03

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2.2 Density Bonus. The Project shall have fifteen (15) Units, to be rented, 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), Developer is granted the following concession(s): (a) The Project shall not be subject to the obligation to provide publicly accessible open space, as set forth in the Metro East Mixed Use Overlay Zone, Table 2, Section 4.5. (b) The obligation to provide private open space, as set forth in the Metro East Mixed Use Overlay Zone, Table 2, Section 4.6, shall be reduced to zero. (c) Developer is not required to submit a parking study. 2.3.2 Waivers. Provided that the Project complies with all other requirements of this Agreement and the Project Approvals, the City agrees to a partial waiver of the requirement to provide common open space, provided the Project provides a total of 2,191 square feet of common open space, including 761 square feet of common area to include laundry amenities, office, community room, and bathroom facilities; and 1,430 square feet of dedicated outdoor open area to be improved with landscaping and outdoor furnishing, as set forth in the Metro East Mixed Use Overlay Zone, Table 2, Section 4.6. 2.4 Parking Requirements. Onsite parking shall be provided in compliance with Government Code Section 65915(p) by utilizing the existing parking on the Property for residents of the Project. Developer represents and warrants that the existing parking on the Property comprises of 136 parking spaces and provides adequate levels of parking for the Project, including all required accessible parking for the Project and prospective residents. Provided that at least twenty-three (23) parking spaces are available to residents in the Project from the existing parking, Developer shall not be required to provide any additional parking. 2.5 No Further Concessions, Incentives, or Waivers. Developer acknowledges and agrees that no further concessions, incentives, waivers or parking requirements are requested, and that the terms set forth in Section 2.3 and 2.4 fully satisfies any duty City may have under the City Density Bonus for Affordable Housing, the Density Bonus Law, or any other law or regulation to provide any density bonus incentive or to waive any building, zoning, or other requirement in connection with a density bonus. By this Agreement, Developer releases any and all claims Developer may have against City in any way relating to or arising from City's obligation to waive 5 2130 East Fourth Street Density Bonus Agreement 5 53 94.0010 1 \43846773.1