A. The following definitions shall apply to Commercial Density Bonus:
1. Commercial development means a development project for nonresidential uses.
2. Commercial development bonus means a modification of development standards mutually agreed upon by the City and a commercial developer and provided to a commercial development eligible for such a bonus under subparagraph 16.20.100.C. Examples of a commercial development bonus include an increase in floor area ratio, increased building height, or reduced parking.
3. Partnered housing agreement means an agreement approved by the City between a commercial developer and a housing developer identifying how the commercial development will provide housing available at affordable ownership cost or affordable rent consistent with subparagraph 16.20.100.C. A partnered housing agreement may consist of the formation of a partnership, limited liability company, corporation, or other entity recognized by the state in which the commercial developer and the housing developer are each partners, members, shareholders, or other participants, or a contract between the commercial developer and the housing developer for the development of both the commercial development and the housing development.
B. 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 for affordable housing.
C. The partnered housing agreement shall include all of the following provisions:
1. The housing development 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 mile of a major transit stop and is located in close proximity to public amenities, including schools and employment centers.
2. At least 30 percent of the total units in the housing development shall be made available at affordable ownership cost or affordable rent for low-income households, or at least 15 percent of the total units in the housing development 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 site consistent with subparagraph (i) above for the affordable units; or make a cash payment to the housing developer for the affordable units.
D. Any approved partnered housing agreement shall be described in the City's Housing Element annual report as required by Government Code § 65915.7(k).
(Ord. 549 § 2, 2019)