A. Any person constructing a project of five or more dwelling units may apply for one or more bonus incentives, as described in this section. Such person shall be eligible for such incentives if twenty-five percent of the units are constructed for low-income to moderate-income households (as defined in California Health and Safety Code Section 50093) and/or ten percent of the units are constructed for low-income households (as defined in California Health and Safety Code Section 50079.3)
The acceptable combination of incentives shall be as determined by the city council, provided that any individual incentive or combination of incentives shall have the equivalent financial value of at least a twenty-five percent density bonus. Incentives to be considered are:
1. A density bonus not to exceed ten percent over the otherwise permitted density on any lot. The density bonus shall not be included when determining the number of housing units which are equal to the ten or twenty-five percent of the project constructed for low-income or moderate-income households;
2. Exemption of the development from the requirements of Section 18.32.120 of this code;
3. Construction of public improvements appurtenant to the proposed development, which may include, but shall not be limited to, streets, sewers and sidewalks;
4. Utilization of federal or state grant moneys or local revenues to provide land for the project at reduced cost;
5. Waiver of building, zoning, subdivision or environmental impact fees and deposits;
6. Expedited case processing;
7. Exemption of the project from any provisions of other municipal code provisions which may cause an increase in the cost of housing units to be developed.
B. In order to assure compliance with this section, the owner of property and/or developer shall execute and record an agreement with the city, in a form approved by the city attorney. The city council shall by resolution adopt policies to assure that units constructed for low-income or moderate-income households, where bonus incentives have been provided pursuant to this subsection, are sold or leased to persons and/or families of low or moderate income.
(Ord. 93-03-1152 § 4 (part): Ord. 89-09-1040 § 1 (part))