Item 12 - Density Bonus Agreement No. 2025-03

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Density Bonus Agreement No. 2025-03 — Olive Crest (2130 E. Fourth Street) July 15, 2025 Page 5 Standard Required by MEMU Provided • Total residential required Requires Concession (3 of 3), Cal. by State Density Bonus: Gov't Code Sec. 65915 (d)(2)(C) 23 spaces • Five -percent of the gross Common open space provided at site area for rate of 1.4-percent of the gross site Common Open Space nonresidential uses area (1,430 square feet) Requires (5,062 square feet) waiver, Cal. Gov't Code Sec. 65915 e 1 Onsite Parking To accommodate the Project, the Applicant is proposing to reduce the overall onsite parking from 163 to 136 parking stalls, a reduction of 27 spaces. The office building's gross floor area is approximately 53,089 square feet, inclusive of corridors, walkways, stairwells, etc. The useable office floor area is approximately 31,266 square feet, with 16,359 square feet on the first floor and 14,907 square feet on the second floor. Pursuant to the City's off-street parking requirements, the office building requires a total of 94 parking stalls. Moreover, the required residential parking pursuant to the State Density Bonus requirements would be 23 spaces. Therefore, the total required parking for the Project would be 117 parking spaces. The Applicant is proposing a total of 136 surface parking stalls, which would be a surplus of 19 parking stalls. Given the above parking analysis, the Project is not anticipated to have any parking impacts. However, to proactively address any neighborhood parking impacts that could result from the Project, the conditions of approval and terms of the DBA include provisions requiring the following parking management practices, to be incorporated into the Project and which shall apply throughout the life of the Project: Requiring onsite parking permits (such as stickers or hang -tags) for any parking dedicated to the residential units, inclusive of guest parking spaces; Policies for maximum time vehicles may be parked in the surface guest spaces; and Policies for towing unauthorized vehicles; vehicles parked in unauthorized locations, such as fire lanes; vehicles parking in surface guest parking without a sticker, hang - tag, or other identifiers; and vehicles parked longer than any maximum guest parking timeframes allowed. Affordable Housing Opportunity and Creation Ordinance The Project exceeds the affordable housing goal for the rental category of the City's Affordable Housing Opportunity and Creation Ordinance (AHOCO) by 100-percent, by providing three (3) onsite units designated for households earning 30-50 percent of the AMI (very low-income), which is currently set at $84,600 for a four -person household. Two affordable units would be included in Building A2, and would be 785 square feet in size. The additional affordable unit would be included in Building Al and would be 761 square feet in size. Each affordable unit will be fully equipped with a kitchen, bedrooms,