NATIONAL COMMUNITY RENAISSANCE OF CALIFORNIA ("NATIONAL CORE")

Home Browse Search

1.2 Exhibits. The following documents are attached to, and by this reference made a part of, this Agreement: 1.2.1 Exhibit A — Legal Description of the Property 1.2.2 Exhibit B — Tenant Verification 1.2.3 Exhibit C — Resolution No. 2019 -XX 2. DEVELOPMENT OF THE PROPERTY 2.1 Project. Developer shall develop, operate, and maintain the Property as a ninety- three 93 Unit affordable residential rental community, with ninety-two (92) Affordable Units and one 1 Unrestricted Unit. 2.2 Density Bonus. The Project shall have ninety-three (93) Units, to be rented, occupied, operated, and maintained pursuant to the terms and conditions of this Agreement. Developer understands and agrees that Developer is utilizing a thirty-five percent (35%) density bonus increase provided by the State Density Bonus Law (51 Base Units x 35% =18 State Density Bonus Units) for a total of 69 units, as well as a thirty-five percent (35%) density bonus provided by the City's Housing Opportunity Ordinance (69 Units x 35% = 24 City Density Bonus Units). Developer shall not construct or develop, or otherwise claim a right to construct or develop, more than forty-two (42) State and/or City Density Bonus Units on the Property. 2.3 Development Concessions and Incentives. As set forth in the City entitlements, Developer petitioned for and was granted the following concessions and incentives as part of the approval of Density Bonus Agreement No. 2019-01 for the Project: 2.3.1Thearp king requirements for the Project shall be reduced in accordance with Government Code Section 65915(p)(3)(A), such that the total of all parking spaces required for the Project shall not exceed 92 spaces. 2.3.2The development standards for this Project shall be waived in accordance with Government Code Section 65915(e)(1), such that the Hybrid Courtyard Building Type shall be a permitted building type for the project. 2.3.3The building setback requirements for the Project shall be reduced in accordance with Government Code Section 65915 (d)(1), such that the minimum required front yard setback shall be 0'-0" feet. 2.3.4The maximum allowable encroachments into required setbacks for the Project shall be increased in accordance with Government Code Section 65915 (d)(1), such that the maximum allowable encroachment shall not exceed 6'-0" into required setbacks. 2.4 In exercising the rights granted to the developer under AB 744 the Parkin requirements for the Project shall be reduced in accordance with Government Code Section