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 11 From a housing policy perspective, the Project is also consistent with key objectives in the Housing Element. Goal HE-2 promotes the development of a diverse range of high - quality housing options to meet the needs of residents across all household types, ages, and income levels. The Project responds to this goal by providing fifteen units in a shared housing configuration, designed specifically for young adults who are experiencing or at risk of homelessness. This development adds to the City's housing diversity and helps fill a critical service gap. In addition, the Project supports Policy HE-2.5, which calls for a variety of housing types, prices, and sizes. The shared living design and supportive services component offer a unique living experience that goes beyond traditional housing models and contributes meaningfully to the diversity of the City's housing inventory. The development leverages partnerships, services, and community -based programming to deliver housing that is both deeply affordable and holistically supportive. Overall, the Project is thoughtfully designed to meet the immediate and long-term needs of a vulnerable population while advancing the City of Santa Ana's goals for inclusive, complete, and livable neighborhoods. It represents a high -quality infill project that adds to the city's housing diversity and contributes to long-term community stability. 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, bathrooms, and common living areas, ensuring a high standard of living for future residents. The developer's Inclusionary Housing Plan has been reviewed and approved by the City's Housing Division. Public Notification and Community Outreach Project notifications were posted, published, and mailed in accordance with City and State regulations. Copies of the public notice, including a 1,000-foot notification radius map, and the site posting are provided in Exhibit 9. The site is located within the boundaries of the Zoo District neighborhood and adjacent to the Lyon Street neighborhood. The neighborhood association representatives were contacted to identify any areas of concern due to the proposed application request. At the time this report was printed, no additional issues of concern were raised.