60A - 4TH AND MAIN MIX USE DEVELOPMENT

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2.1 Project. Developer shall develop, operate, and maintain the Property as a two - hundred and twenty 220) Unit mixed use commercial and residential development, with eleven 01) Affordable Units for Very Low Income Tenants. 2.2 Density Bonus. The Project shall have two -hundred and twenty(220) Units, including eleven 11 Affordable Units, to be rented, occupied, operated, and maintained pursuant to the terms and conditions of this Agreement. Developer understands and agrees that Developer is not utilizing a density bonus increase provided by the State Density Bonus Law or City Density Bonus for Affordable Housing. However, Developer is only proposing two -hundred and twenty 220 Units, so Developer shall not construct or develop, or otherwise claim a right to construct or develop any additional State and/or City Density Bonus Units on the Property. 2.3 Development Incentive. As set forth in the City entitlements, Developer petitioned for and was granted the following reduced parking ratios as pro, id4 for in Government Code Sec. 65915(p)(1) as part of the approval of Site Plan Review No. 20y `or the Project: 2.3.1 The onsite parking standards for t parking spaces per unit to 1.51 spaces per unit pursuant t, 65915(p)(1) and 65915(p)(4), which provides onsit , e reduced from 2.15 ,mment Code sections f one (1) stall for studio or one -bedroom units, and two (2) stalls for two-' 'ln oe% its, for a total of 332 onsite panting spaces for the Project. 2.4 No Further Concessions r cE '_'PS. _Nper acknowledges and agrees that the incentive set forth in section 2.3 al- 'y , 'tip y duty City may have under the Santa Ana Municipal Code, the Density 'B^nus < y other law or regulation to provide any development incentive or to wai- f ' ig, zoning, or other requirement in return for providing Affordable Units. F' , th. greement, Developer releases any and all claims Developer may have against City i- may , to or arising from City's obligation to waive requirements of or prov' �101 'nt . ,iatives pursuant to any state, federal, or local law, rule, or regulation applicad lek 2.5 Unrestric he Project, for purposes of this Agreement, may have no more than two -hundred and nine Unrestricted Units comprised of forty-two (42) studio units, ninety-six (96) one -bedroom nits and seventy-one (71) two -bedroom units. Any change to the unit distribution of the Unrestricted Units may affect the comparability of the Affordable Units and is subject to City Manager approval. 2.6 Affordable Units. The Project, for purposes of this Agreement, shall have no less than eleven 11 Units, which shall be comprised of three (3) studio units, four (4) one -bedroom units, and four (4) two -bedroom units, designated as Affordable Units pursuant to the terms and conditions of this Agreement. The Affordable Units shall be consistent with all City approvals, comparable in bedroom distribution and amenities to the Unrestricted Units, and shall be located throughout the Project as required under Santa Ana Municipal Code section 41-1602(c)(6). 2.7 Minnmun Development Standards for Affordable Units. The Affordable Units shall be constructed with the same exterior appearance and interior features, fixtures, and Z.. �.1 � ..