Item 31 - Density Bonus Agreement No. 2023-02: Residential Development (322 N Harbor Blvd.)

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SPR No. 2023-02 and DBA No. 2023-02 (322 N Harbor Blvd.) September 25, 2023 Page 5 Pursuant to Section 41-1607 of the SAMC, an application for a density bonus agreement is required to be approved by the Planning Commission for any project containing "deviations" (incentives/concessions and/or waivers). The Planning Commission's review of the density bonus agreement is based on the following findings: The proposed development will materially assist in accomplishing the goal of providing affordable housing opportunities in economically balanced communities throughout the city. 2. The development will not be inconsistent with the purpose of the underlying zone or applicable designation in the general plan land use element. 3. The deviation is necessary to make it economically feasible for the applicant to utilize a density bonus authorized for the development pursuant to section 41- 1603. Table 4: Analysis of the Requested Incentives/Concessions (2) and Waivers (2) Standard Analysis Minimum Common Open Table 3-9 (Onsite Open Space Requirements) in the Harbor Mixed -Use Space Requirement Transit Corridor Plan (SP2) requires a minimum of 15% of the lot size to be provided as common open space or plaza space. As proposed, the project provides 5 percent common open space or 800 square feet in the form of a common open deck on the second floor. Strict adherence to this common open space requirement would result in a reduction in the number of units that can be provided in the overall project, thus reducing the applicant's ability to achieving the full 35-percent density bonus to which the applicant is entitled under State Housing Law and affecting the feasibility to construct the project. In order to provide the required common open space and maintain the current proposed unit count, the developer would be required to construct additional floor levels, which would exceed the maximum allowable height as part of the Harbor Mixed Use Transit Corridor Plan (SP-2), and would further increase development costs making the project economically infeasible. To help alleviate the common open space deficiency, the project proposes a 1,477-square-foot community room, a separate fitness room, and an average of 50 square feet of private open space per unit (1,100 square feet total), through use of private balconies/decks for each unit. 9/25/2023 Planning Commission 2-5