INTEGRITY BUILDERS & ASSOCIATES INC. (S A M CONSTARUCTION & BUILDER CORP.)-2014

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A- 2010 -179 DENSITY BONUS HOUSING AGREEMENT THIS DENSITY BONUS HOUSING AGREEMENT (the "Agreement ") is hereby entered into as of this 20th day of January, 2014, by and between S A M CONSTRUCTION & BUILDER CORP., a California corporation ( "Owner ") and the CITY OF SANTA ANA, a charter city and municipal corporation ( "City ") RECITALS" A. Owner is the fee title absolute owner of certain real property within the City of Santa Ana, County of Orange, State of California commonly known as 5301 Silver Drive and legally described in Attachment No. 1 hereto which is incorporated herein by this reference (the "Property "). B. Section 41 -1600 et seq. of the Santa Ana Municipal Code and section 65915 et seq. of the California Government Code set forth a process to provide increased residential densities to property owners who guarantee that a portion of their residential development will be available to low income, very low- income, or senior (also known as "qualified ") households. These regulations are intended to materially assist the housing industry in providing adequate and affordable shelter for all economic segments of the community and to provide a balance of housing opportunities for low income, very low- income, and senior households throughout the city. C. Owner is proposing to the City to develop five residential for -sale, condominium units on the Property (the "Project "), as more particularly set forth in Tentative Tract Map No. 2009 -1 (County Map No, 17323), Density Bonus Application No. 2010 -1, Environmental Review No. 2008 -115, and Development Plan Review No, DP 2008 -36. D. The parties hereto desire by this Agreement for Owner to agree to hold and convey one (1) unit within the Project (the "Affordable Unit") to Low Income Households, and in return for the City to agree to provide for additional units beyond that which is allowed pursuant to the City's General Plan together with other concessions to Owner. Section 41 -1602 of the Municipal Code referenced above, require such agreement to be the subject of a density housing bonus agreement. E. In light of the purpose of the City and State density bonus law, and the express provisions of section 65915(n), the City has determined to grant Owner's application for a density bonus and related concessions and waivers. F. In addition to the density bonus granted to Owner, the Project has been granted waivers and concessions of City development standards including (i) reduction of minimum lot size for five (5) units from 18,000 to 16,879 feet, and (ii) increasing the number of attached units in the R2 zone from 2 units to 3 units.