Laserfiche WebLink
CUP No. 04 -24, DA No. 04 -03, TTM No. 04 -05, <br />VA No. 04 -11, ZOA No. 04 -05 and SPR No. 04 -06 <br />November 22, 2004 <br />Page 6 <br />installation of public art at a City designated location no <br />later than the end of the term of the agreement. This is <br />expected to generate a public art requirement of approximately <br />$200,000. <br />4. Paying the City a fee of $35.50 per square foot for parkland <br />dedication in lieu of the dedication of parkland as required <br />in the City's Subdivision Ordinance (Section 34 -204 et seq, of <br />the Santa Ana Municipal Code). Additionally, the fee may be <br />increased yearly by the average rate of increase in land costs <br />in the City of Santa Ana, as that increase is established by <br />an independent trade publication or source specified in the <br />Agreement. The fee shall be paid prior to issuance of each <br />building permit. Based on the development proposed, this is <br />expected to amount to a fee of approximately $1,547,705.93. <br />5. Paying the City a $3,000.00 per unit inclusionary housing fee <br />prior to issuance of each building permit. The developer may <br />be relieved of this requirement if it enters into an agreement <br />with the Community Redevelopment Agency of the City of Santa <br />Ana to either rehabilitate and sell or lease, with <br />affordability covenants as required by State law, 42 <br />inclusionary housing units and /or provide for up to 60 percent <br />of these inclusionary units to moderate income residents at <br />its project. <br />6. Preparation of Covenants, Conditions and Restrictions (CC &R's) <br />for the project that include provisions such as allowing no <br />more than four residents per unit, requiring the units to be <br />owner - occupied and at no time may the entire unit be rented, <br />limiting home based businesses to those allowed by the <br />Municipal Code, and establishing a significant financial <br />penalty (i.e., the maximum permitted by law) to be imposed by <br />the Home Owners Association (HOA) to any member who violates <br />these provisions. <br />Sandpointe Neighborhood Area Improvements: Included in the development <br />agreement is a five party agreement between the City, the Redevelopment <br />Agency, the Sandpointe Neighborhood Association, and the developers for <br />the Geneva Commons and Nexus projects for improvements to the Sandpointe <br />Neighborhood Area. The developers of the Geneva Commons and Nexus <br />projects have agreed to contribute towards off -site improvements in <br />