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SPR No. 2017-08/DBA No. 2017-01 September 11, 2017 Page 6 Reduction of onsite Will the reduction in required parking proposed on-site parking, as permitted through AB 744 by AB 744, affect the success of the project or impact the surrounding community? Density Bonus Agreement AB 744 allows senior affordable residential projects whose residents are aged 62 or older to provide a parking rate of 0.5 spaces per residential unit. Staff has analyzed the proposed project, which exercises its right under AB 744, and finds.that there is potential that the project and neighborhood may be Impacted by the reduced parking. The City has Identified the MEMU area for high-intensity, mixed use development in order to reduce demands for parking and traffic Impacts. However, the Mr:MU area is still In transition, and portions including the project site have yet to redevelop and produce the pedestrian -scale environment envisioned by the document. To mitigate these Impacts, staff has added a condition or approval requiring the developer to enter into an agreement with a property within 500 feet of the project site to provide additional guest andlor resident parking during off- peak times. The California Density Bonus Law applies to projects proposing five or more residential units and grants density bonuses to those meeting certain requirements for affordabillty levels and types of housing (family, veterans, etc.). Rental units in such developments that are designated "affordable" must remain so for at least 55 years. For affordable senior housing projects, a developer may seek a density bonus up to 20 percent from base density. The City's Housing Opportunity Ordinance (HOO), last updated in 2015, augments the density bonus concept by allowing a developer to seek an additional 35 percent density bonus calculated from base density (SAMC Sec. 41-1904.1). A summary of the proposed project's density calculation is provided in Table 4: Project Density Calculation. Table 4: Project Density Calculation 1 "ensity_gt'Bonus Allowed for Project Provided Base Density 1285 units (3.17 acres x 90 unitslacre 285 units base density used as a standard for developments in areas designated DC by the General Pian Land Use _ element) 20 -Percent Bonus for Senior Projects +57 units 285 x 0.20 +57 units 35 -Percent Bonus Provided by the +10D units (285 x 0.35) +77 units HOO Total Units __ 442 units maximum —11j 419 units proposed Under the state's Density Bonus Law, a developer may seek Incentives or waivers (sometimes called concessions) to increase the viability of the proposed project. Revisions to the Density Bonus Law, as recent as January 2017, allow developers to seek an unlimited number of waivers from development standards insofar as such waivers are not detrimental to public health or safety, do not negatively