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OLIVE CREST (4)
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OLIVE CREST (4)
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Last modified
8/12/2025 5:15:03 PM
Creation date
8/12/2025 5:14:24 PM
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Contracts
Company Name
OLIVE CREST
Contract #
A-2025-121
Agency
Community Development
Council Approval Date
7/15/2025
Expiration Date
1/1/1900
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requirements of or provide development incentives pursuant to the City Density Bonus for <br /> Affordable Housing and the Density Bonus Law applicable to the Project. <br /> 2.6 Unit Mix. <br /> 2.6.1 Unrestricted Units. The Project, for purposes of this Agreement,may have <br /> no more than twelve (12) Unrestricted Units, inclusive of one (1) manager's unit, as set forth in <br /> sub-paragraph 2.6.3, below, and pursuant to the terms and conditions of this Agreement. Any <br /> change to the unit distribution of the Unrestricted Units may affect the comparability of the <br /> Affordable Units and is subject to City Manager approval. <br /> 2.6.2 Affordable Units. The Project, for purposes of this Agreement, shall have <br /> no less than three (3) Affordable Units, for Very-Low Income Tenants, as set forth in sub- <br /> paragraph 2.6.3,and pursuant to the terms and conditions of this Agreement. The Affordable Units <br /> shall be consistent with all City approvals, comparable in bedroom distribution and amenities to <br /> the Unrestricted Units, and shall be located throughout the Project as required under Santa Ana <br /> Municipal Code section 41-1602(c)(5). <br /> 2.6.3 Unit Mix. <br /> �,M- EN <br /> Ell= <br /> �x <br /> a. Very LOLN Uery Low <br /> • - - Unrestricted; Unrestricted Income Income Unrestricted N/A <br /> 6 7% 100 6 <br /> a%of Total <br /> Sq Ft <br /> P M, <br /> l , yA <br /> • •• TwoTwo Twos` ", Two 30 <br /> 2.7 Minimum Development Standards for Affordable Units. The Affordable Units <br /> shall be constructed with the same exterior appearance and interior features, fixtures, and <br /> amenities, and shall use the same type and quality of materials as provided for any Unrestricted <br /> Units, regardless of whether such Unrestricted Units are in the Project. <br /> 2.8 Permits and Processin • Compliance with Laws. Developer, at its sole cost and <br /> expense, or as otherwise set forth in a separate written agreement, shall secure or cause to be <br /> 6 <br /> 2130 East Fourth Street Density Bonus Agreement <br /> 55394,00101\43 846773.1 <br />
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