80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT A

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C~ap~er 3 F~ndin~s ~e~ar~lr~ Pro~e~~ A~tarr~at~ves balance, file rednct~on impacts to shading end sh~do~vs provided bit t~~s alternative do ~xot out~vi~l~ the costs associated ~~~ith the loss o~ housing a~zd ~•etail oppoitu~.ities that ~~rould also occur ufld~~` tl~s alternative. l~'or these reaso~~s, the ~ge~~c~F rejects ~lternatt~Te 3 infeasible. ~~n~in ~n A~trntiv t~ the Prop~~ `~rn~it ~on~n o~~ An~~d in tie ~I t~lternati~tes and 6, desci+ibed '~eio~~, pieent a~tef~~a~.~~es to t~~e ~~~~opo~ed De~Teio~~cr ~'ro~eet, L~~de~• each o~ tl~ese ternadves, the proposed ~'r~nsit Boni#~g bode ~~~ould ~•e~r~ain the r~n.cha~~ed. The ~e~~c~?'s fi~.d~ns o~~ each alter~~a~.ve and the ra~onale bel~nd each ~ndi~~ are set f'o~~th below. Altrntiv~ 4: ~em~~~ti~n of~nc roprtie/~eha~ilit~t~ in P~ ~crfp~~or~ '~'l~is alte~•~~ative would eltrx~it~ate the den~olid,o~~ o structures on tl~e ~ourteet~ parcels «rithir~ the tatioi~ District currentl~~ owned bit the ~it~T o~ Santa ~~~~a ~edevelopz~.ent ~enc~t that were slated l'or dc~noli~on under the p~~opased Developer ~'ro~ect see figure 5-~ [Den~olitiot~s} and instead ~'cquire that those p~~aperties be xeta~iled and rehabilitated tht~~ cu~~rent locations, t~dditionall~~, the ~it~~~Agenc~t would riot acquire an~~ of the t~~reut~~ pafcels identi#~icd i~Y ~`iure 5-~ [potential ~e~~F Santa Ana ~edevelo~~~ent ~~enc~~ ~ccluisitia~~s~, Upon co~.~pletion of rehabilitation, the rehabilitateai ho~~ses would be of~e~.'ed or~sale as ~o~v or moderate it~corne housing. '~l~e proposed ~`~•a~~sit ~o~i~ bode would remain the sazx~e under t}~ ~lte~.'i~ative, ~n total, tl~s Alterna~.vc would pro~tide appro~ttnatel~t ~5 rental units and appro.~~atcl~t 2~- for• sale units ~~~itl~in the tatiot~ District, ~'or a total o~ appro~irnatel~~ units. ~ tl~ese, approxi~uatel~7 72 ~~ould be re~7ted to lo~v, v~.~~-lo~v and e~tre~~el~r-lo~v incorue housel~olds, appro~i~x~atel~t ~9 would be offered for sale a lo~~~ i~~come ~~nits, a~xd one ~~?oulCl be offered for sale to tl~ose meeting tl~e rare our~t~~ criteria for ~~ioderate ~cot~le. ~~ee EAR ~~ppet~di~ J pdated~ [~lternati~res'~csti~~g; ~'inancia~.t~.t~~.lysis~,'~able , ~lter~~a~ves t~nal~~sis.~ ~~T contrast, a.ppxo~i~natel~? 12~ utait ~~Tould be provided b}' the proposed Developer ~'~•oject, of ~~?hich ~1 ~vo~d be rented to lo~v, ver~r-lo~~~ and e~t~'cmel~tYlo~v it~corne ho~~seholds, and thirty= t~~~o units would be o£er•ed for sale, o~~vhicl~ sip wits ~~?ould be offered f'or sale to tl~ose meeting the ~ra~jge ~ount~r cr~ter~a foi ~lrioderate I~~co~r~e. ~d.~ ~~rlC~lr? ~l~e ~enc~t her~eb~7 finds that specific econot~~c, legal, social, tech.~7ological, or other consideratio~~s make the adoptton o~ this .iteri~ative ~nfeas~ble~ ~ot~struct~on of a~`i'ardable housing ut~its is critical to Yneeting the it~~'s Regional dousing deeds ~ssesstr~ent ~~A~ ~'or 200-~~1~. Tl~e i~~'s ~~H~ calls far 3,393 units of nety residet~ti~l CoflstrllCtloil, X94 of ~~xl~icl~ ale to be affordable to ~zer~t lo~v income households, 57~ of ~vllich a~'e to be ai`fordable to lo~v i~lcome households, and GCS to be affordable to zr~oderate income l~ousel~olds ~E~, ectiot~ ~.9~. t~lternat~ve ~ `vould pro~T~dc 37 fever ~~~ts that ~~~ollld be aff'o~•dable to vent-lo~~; lo~v and Transit honing Code ~D 84} SIR Findings of i=ac~/~a~ment o~ ov~~~~din Considerations ~g