A. The city shall provide a density bonus and an additional incentive for qualifying housing developments unless:
1. The city makes a written finding that:
a. The additional concession or incentive is not required to provide for affordable housing costs as defined in Health and Safety Code section 50052.5 or for rents for targeted units to be set as specified in subdivision (c) of Government Code section 65915; or
b. The concession or incentive would have a specific adverse impact, as defined in paragraph (2) of subdivision (d) of Government Code section 65589.5, upon the public health and safety or the physical environment or on a listed historic resource and for which there is no feasible method to satisfactorily mitigate or avoid the specific adverse impact without rendering the development unaffordable to low- and moderate-income households; or
c. The concession or incentive would be contrary to state or federal law.
2. The city provides other incentives of equivalent financial value based upon the land cost per dwelling unit, pursuant to Government Code section 65915(b).
B. Pursuant to Government Code sections 65915 and 65917, the city may offer an equivalent financial incentive in lieu of granting some or all of the density bonus and additional incentives requested by the developer. Any equivalent financial incentive should contribute significantly to the economic feasibility of providing the target units pursuant to this chapter. (Ord. 2013-0020 § 1; Ord. 2013-0007 § 1)