Item 12 - Density Bonus Agreement No. 2025-03

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DBA No. 2025-03 — Olive Crest (2130 East Fourth Street) June 23, 2025 Page 6 For this Project, the developer is not requesting a State density bonus for additional units but will avail themselves of the incentive/concessions and waiver or reductions that are required to be provided by State density bonus law for projects with the requisite affordability. Due to the Project's twenty -percent (20%) affordability rate, the developer can seek three density bonus incentive/concessions and unlimited waivers, pursuant to Section 65915 et al. of the California Government Code (Density Bonuses and Other Incentives). In addition, California Assembly Bill No. 2345, approved September 28, 2020, revised the State Density Bonus Law originally adopted in 1979 to provide additional benefits for projects that include qualifying affordable housing. The purpose of the State Density Bonus Law is to encourage the development and availability of affordable housing. Pursuant to California Government Code sections 65915 (d)(1) and 65915 (e)(1), a local jurisdiction is limited in its ability to deny requested incentives, concessions, and waivers. The City has analyzed the Project and has identified several areas of potential impacts; however, the conditions of approval proposed for the Project are intended to address the Project's potential impacts. Table 3: Requested Concessions and Waiver Standard Required by MEMU Provided No publicly accessible open space Publicly Accessible Open Ten -percent of the gross site provided. Requires Concession (1 of Space area (115,029 square feet) 3), Cal. Gov't Code Sec. 65915 d 2 C • 90 square feet per unit No private open space provided. Private Open Space (1,350 square feet); and Requires Concession (2 of 3), Cal. Gov't Code Sec. 65915 (d)(2)(C) Residential: 34 spaces • Non-residential: 94 0 Zero spaces provided for residential spaces units proposed. Parking Requirements Total required: 128 0 136 parking spaces provided for spaces non-residential. • Total residential required Requires Concession (3 of 3), Cal. by State Density Bonus: Gov't Code Sec. 65915 (d)(2)(C) 23 s aces • 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