Agenda Packet_2024-07-16 (Revised)

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EXHIBIT 4 and that the Project Site and Project shall be subject to the covenants and restrictions set forth in the Density Bonus Agreement. F. The total affordability term in the Density Bonus Agreement states that each affordable unit shall be restricted for sale to an eligible household for a total period of no less than forty-five (45) years. To maintain this project as a for sale project, the Applicant also requested and received approval of TTM No. 2023-05, for condominium purposes, ensuring that the project qualifies as a Housing Development, and the Project meets the definition of a Common Interest Development. G. The Project entails, among other improvements; (1) development of the Project Site with three duplex buildings with six (6) for-sale housing units proposed as affordable to lower-income households, 10,882 square-feet of total new floor area, and 15 onsite parking spaces; and (2) approval of Density Bonus Agreement (DBA) Application No. 2024-01. H. The California Density Bonus law allows developers to seek increases in base density for providing on-site housing units in exchange for providing affordable units on site. To help make constructing on-site affordable units feasible, the law allows developers to seek incentives/concessions or waivers that would help the project be built without significant burden and without detriment to public health. I. The Applicant's request has been thoroughly evaluated by the City's Development Review Committee (DRC) through Development Project No. 2023-12. Through this review, the DRC has considered the subject site, proposed development, and the Applicant's requests for incentives/concessions and waivers pursuant to the State's Density Bonus Law. J. The Project is entitled to a density bonus that will allow six (6) total residential units, developed as three (3) duplex buildings, based upon the restrictions set forth in the DBA to restrict the sale of the units to households that qualify as low income. Pursuant to the California Density Bonus law, a project's affordability level is determined by dividing the number of proposed affordable units by the allowable "base" density (i.e., 7 du/ac). Moreover, the law states that units added by a density bonus are excluded from the calculations. The base density for the 0.37-acre site at 7 du/ac is 3 units. All six units of the project are proposed to be affordable to low income households. Therefore, the project would have a 100-percent affordability rate. As such, State density bonus law allows the developer to request a density bonus of 80 percent. K. Section 41-1607 of the Santa Ana Municipal Code (SAMC) requires an application for a density bonus agreement containing deviations Resolution No. 2024-XX f 12 City Council 12 —208 7/1 4