Item 12 - Density Bonus Agreement No. 2025-03

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requirements of or provide development incentives pursuant to the City Density Bonus for Affordable Housing and the Density Bonus Law applicable to the Project. 2.6 Unit Mix. 2.6.1 Unrestricted Units. The Project, for purposes of this Agreement, may have no more than twelve (12) Unrestricted Units, inclusive of one (1) manager's unit, as set forth in sub -paragraph 2.6.3, below, and pursuant to the terms and conditions of this Agreement. Any change to the unit distribution of the Unrestricted Units may affect the comparability of the Affordable Units and is subject to City Manager approval. 2.6.2 Affordable Units. The Project, for purposes of this Agreement, shall have no less than three (3) Affordable Units, for Very -Low Income Tenants, as set forth in sub- paragraph 2.6.3, and pursuant to the terms and conditions of this Agreement. The Affordable Units shall be consistent with all City approvals, comparable in bedroom distribution and amenities to the Unrestricted Units, and shall be located throughout the Project as required under Santa Ana Municipal Code section 41-1602(c)(5). 2.6.3 Unit Mix. 2.7 Minimum Development Standards for Affordable Units. The Affordable Units shall be constructed with the same exterior appearance and interior features, fixtures, and amenities, and shall use the same type and quality of materials as provided for any Unrestricted Units, regardless of whether such Unrestricted Units are in the Project. 2.8 Permits and Processing Compliance with Laws. Developer, at its sole cost and expense, or as otherwise set forth in a separate written agreement, shall secure or cause to be 6 2130 East Fourth Street Density Bonus Agreement 55394.00101 \43846773.1