Item 21 - Density Bonus Agreement No. 2022-03

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RECORDING REQUESTED BY: AND WHEN RECORDED MAIL TO: City of Santa Ana Clerk of the Council 20 Civic Center Plaza (M-30) P.O. Box 1988 Santa Ana, California 92702 Attention: Clerk of the Council Free Recording pursuant to Government Code 27383 DENSITY BONUS HOUSING AGREEMENT This DENSITY BONUS HOUSING AGREEMENT ("Agreement") is made and entered into this 6th day of December, 2022, by and between the City of Santa Ana, a charter city and municipal corporation of the State of California ("City"), and Warmington Residential California, Inc., a California corporation ("Developer"). City and Developer are sometimes herein referred to collectively as the "Parties" and individually as a "Party." RFCTTAT,,'; A. Orange County Electrical Joint Apprenticeship Trust is the owner of certain property located within the City of Santa Ana, County of Orange, State of California, commonly known as 717 S. Lyon Street, Santa Ana, California, and legally described as set forth in Exhibit A attached hereto and incorporated herein by this reference as if set forth in full ("Property"). B. Developer has entered into a purchase and sale agreement with the property owner, which provides that the Property will be transferred from the property owner to Developer after the approval of entitlements for the Project. C. Developer is proposing to develop a community composed of fifty-one (51) single- family attached townhome condominiums, eight (8) of which are proposed as low-income affordable units, on the Property, as more particularly set forth in Density Bonus Application No. 2022-03 ("Project"). Without the density bonuses, Developer would only be permitted to build thirty-five (35) units on the Property. D. Santa Ana Municipal Code sections 41-1600, et seq. ("City Density Bonus for Affordable Housing"), and California Government Code sections 65915, et seq. ("State Density Bonus Law"), 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 housing for all economic segments of the community and to provide a balance of housing opportunities for very low-income, low income and senior households throughout the city.