Sec. 26-154. - Commercial development bonus.

(a)

In accordance with Government Code Section 65915, as it may be modified from time to time, when an Applicant proposes to construct a commercial development and has entered into a partnered housing agreement approved by the City, the City shall grant a commercial development bonus mutually agreed upon by the developer and the City. The commercial development bonus shall not include a reduction or waiver of fees imposed on the commercial development to provide affordable housing. The requirements for commercial development bonus are as follows, which shall also be described in the partnered housing agreement:

(1)

The residential development project shall be located either:

a.

On the site of the commercial development; or

b.

On a site within the City that is within one-half (½) mile of a major transit stop as defined in Government Code Section 65915, as it may be modified from time to time, and is located within one (1) mile of public amenities, including schools and employment centers.

(2)

At least thirty (30) percent of the total units in the residential development project shall be made available at affordable ownership cost or affordable rent for low-income households, or at least fifteen (15) percent of the total units in the residential development project shall be made available at affordable ownership cost or affordable rent for very low-income households.

(3)

The commercial developer must agree either to directly build the affordable units; donate a commercial development site consistent with state density bonus law, for the affordable units; or make a cash payment to the housing developer for the affordable units.

(4)

Any approved partnered housing agreement shall be described in the City's housing element annual report as required by Government Code Section 65915, as it may be modified from time to time.

(Ord. No. 2519, § 5(Exh. A), 2-20-24)