Density Bonus Clause Samples

Density Bonus. The election and waivers granted to the Project through the Project Approvals, as more specifically described in Section 2.4 of this Agreement.

Density Bonus o 55 units allowed per zoning (4.6 acres x 12 units/acre = 55.2 units) o 17% (or 10 units) restricted to “lower income” (55 x 0.17 = 9.35 affordable units) o 30.5% density bonus allowed for 17% lower income units, per Table 7-2 o 55 units x 0.305 = 16.77 density bonus units allowed (pursuant to State Density Bonus Law, density bonus can be increased to the next whole number, which would allow for up to 72 total units, however the project only includes 69 units) o 69 total units (55 + 14 = 69) ▪ 59 market rate rental units ▪ 10 lower income affordable rental units

Density Bonus. Developer has requested a density bonus for the combined Phase A Project and Phase B Project, for the purpose of obtaining certain benefits including a parking

Density Bonus. A one-for-one city density bonus shall be awarded for construction of on- site affordable units meeting the requirements for a state density bonus.

Density Bonus. The City Council, upon request, may approve an increase in the number of units per acre permitted in a proposed Residential Development Project governed by this Article, when such an increase in density is consistent with state density bonus law as set forth in Section 65915 of the State Government Code. In calculating the number of affordable units required by this Article, any additional units authorized as a density bonus pursuant to state law shall not be counted as part of the residential project.

Density Bonus a) The City finds that higher density development in Downtown will provide significant economic benefits for the future health and growth of the community. Therefore, as an incentive to provide greater density in Phases II and III, the City is offering the Density Bonus. b) If the Developer elects to increase the height of the building(s) to at least ten (10) stories in Phase II and/or Phase III, and if the combined BCAD value of the structures on Phases II and III exceeds $110,000,000, Developer can request bi-annual grant payments from the Infrastructure Grant Fund, up to $1,500,000 in the aggregate. c) The Density Bonus will be paid concurrently with the Infrastructure Grant Payments for Phases I – III. The Density Bonus is restricted to funds available in the Infrastructure Grant Fund. The City agrees to have the TIRZ #21 Board amend the Project and Finance Plan to increase the City’s participation in the Infrastructure Grant Fund by an additional $1,500,000 in the aggregate through the term of this Agreement. d) If the BCAD value for Phases II and III never reaches $110,000,000, as long as it has reached $88,000,000, in the final year of this Agreement, Developer is entitled to request a pro-rata portion of the $1,500,000. The amount is reduced by the same percentage as the shortfall between the expected $88,000,000 and the actual appraised value of Phase II and III.

Density Bonus. The City may provide a 15 % increase in the maximum allowable residential density established by the Comprehensive Plan for any residential development qualifying as a Life Cycle Housing Development. The density bonus will not require an amendment to the Comprehensive Plan, zoning change, or other discretionary approval by the City; other than those approvals required by City if the development were not proposed as a Life Cycle Housing Development. The housing units allowed by the density bonus will not be included when determining the total number of housing units to qualify as a Life Cycle Housing Development. The density bonus will apply to housing developments consisting of five or more dwellings.