Item 24 - Agreement No. 2025-01 - MLC Holdings

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SPR No. 2025-01, VTTM No. 2025-01, and DBA No. 2025-01 — MLC Holdings, Inc./Meritage Homes (2020 East First Street) March 24, 2025 Page 10 (incentives/concessions and/or waivers). The Planning Commission's review of the density bonus agreement is based on the following findings: 1. 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 5: Analvsis of the Reauested Concession (1 Standard Analysis Open Space Concession — MEMU, Section 4.5. Publicly Accessible Open Space The total common open space required for the project site is equal to 15 percent Public Open Space of the lot, or approximately 24,020 sq. ft. Instead, the project provides a 9,767 sq. ft. of publicly accessible open space (approximately six percent — 6%). Providing the required publicly accessible open space would reduce the total number of units that can be developed and/or impact the drive aisle area, compromising the project's feasibility and safety for residents and emergency responders. The site cannot accommodate the additional nine percent (9%) open space required by the AU district without making the project financially infeasible. This would likely lead to a reduced unit count, smaller unit sizes along First Street, or a narrower drive aisle, creating a ripple effect that ultimately decreases the size of Buildings 10, 11, and 12. The units have been carefully designed to balance common areas and bedroom space, and any further reduction could compromise livability for future owners. Moreover, if the project becomes financially unviable, it could result in the loss of the five affordable townhouse units. Lastly, the overall site design and proposed amenities took into account the proximity of the City of Santa Ana Zoo/Prentice Park, which is located approximately 1,500 linear feet (0.2-miles) to the west of the project site. The close proximity of the City park space reduces the overall impact of the concession for the open space requirement. Based on the analysis provided within this report, the proposed development will materially assist in accomplishing the goal of providing additional affordable and market -rate ownership housing stock in the city and will consistent with the applicable designation in the general plan land use element. In addition, the proposed deviations are necessary to make the project economically feasible pursuant to section 41-1603.