Reso23-06 PC Reso Reso 0028 Approving 1201 Main with Conditions of Approval 04.18.2023

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ATTY/RESO.0028/PC RESO APPROVING 1201 MAIN WITH CONDITIONS OF APPROVAL REV: 04-18-23 VR Page 13 of 34 29.7(C): Approval of On-site Affordable Units. A. The proposed affordable units comply with the applicable standards in this Article, including, without limitation, the requirement that the affordable units be made available for concurrent occupancy per Section 29.6B. The proposed affordable units would comply with the required standards including providing a comparable quality of construction to onsite market rate units, making the units available for occupancy at the same time as market-rate units, and ensuring the continued affordability of the units. The affordable units would provide compatible exterior and interior finishes, and amenities as market rate units. This includes the same access to common open space, parking, storage, and other onsite facilities. The number of bedrooms and distribution of units within the development would also be comparable to the market-rate units. The affordable units would be available to qualifying moderate-, low-, and very-low income households and remain affordable units for a duration of at least 55 years. B. The affordable units will mitigate the impact of the project on the need for affordable housing if the units are being provided under the Affordable Housing Impact Fee program. The project proposes four on-site affordable units and payment of an in-lieu fee of $68,703.80 which will mitigate the impact of the project on the need for affordable housing consistent with Article 29 of the Zoning Code. This project would thus provide a variety of on-site units and pay an in-lieu fee in addition to meet the required number of fractional units, as calculated in the equivalency matrix. The in-lieu fee would allow the impact fee would add value and the opportunity for new affordable housing projects in the City. 29.4(A)(1) and 29.8(E): Number of Affordable Units and Level of Affordability (Rental Projects); Other Alternatives.