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ATTY/RESO.0114/CC RESO APPROVING MODIFICATION TO ELCO YARD PROJECT REV: 11-19-25 VR Page 2 of 5 including revising how the Project complies with the City’s Affordable Housing Ordinance (“Ordinance”) and the related Affordable Housing Plan, the Project’s State Density Bonus Law concessions and waivers, and design details (“Amended Project”); and WHEREAS, the City’s Ordinance requires payment of an affordable housing impact fee for non-residential development to mitigate a project’s impact on the need for affordable housing. Alternatively, projects may provide affordable units on or offsite instead of paying a fee if the project meets certain conditions. The Original Project provided affordable units on Parcels A, D, and F instead of paying an impact fee to satisfy its non-residential development requirements of the Ordinance. The 39 unit, all- affordable housing development on Parcel F has been completed and satisfied a portion of the nonresidential requirements (16 affordable units). The Developer is requesting to meet the non-residential requirements of the Ordinance by providing 16 affordable units (already built on Parcel F) and paying an affordable housing impact fee for the remaining non-residential obligation, totaling $5,822,001. By meeting the commercial obligation with by paying an affordable housing impact fee, the number of onsite affordable units would be 119 units rather than 147 units, as described in the Amended Affordable Housing Plan; and WHEREAS, the Amended Project includes modifications to the previously entitled density bonuses, concessions, and waivers under the State Density Bonus law; and WHEREAS, for Parcel A, the Amended Project qualifies for up to a 20% density bonus, one concession, and unlimited waivers as it provides 5% of the base units at the very low-income level. The Developer has requested the 20% density bonus; one (1) concession to reduce the affordable unit size, based on square footage by approximately 81 sq.ft., as compared to the market rate units; and two (2) waivers: a waiver to increase height from 6 stories to 7 stories with the project meeting the existing maximum bonus height of 85 feet, and a waiver to redistribute uses between Parcels A and E in order to construct one residential building. Residential uses would be consolidated on Parcel A, and office uses would be consolidated on Parcel E; and WHEREAS, for Parcel D, the Amended Project qualifies for up to a 35% density bonus, two concessions, and unlimited waivers as it provides 11% of the base units at the very low-income level. The Developer has requested the 35% density bonus and two (2) concessions: one concession to reduce private open space from 125 sq.ft. to 104 sq.ft. per unit, and another concession to reduce the affordable unit size, based on square footage by approximately 97 sq.ft., as compared to the market rate units. The Developer has also requested one (1) waiver to redistribute uses between Parcels B, C and D in order to construct one residential building. Residential uses would be consolidated on Parcel D, and office uses would be consolidated on Parcels B and C; and WHEREAS, the Amended Project includes minor design modifications to the exterior colors, materials, balconies, and window details to the buildings on Parcels A and D. The design modifications maintain the look, feel, and quality of the original entitlement and do not impact the architectural permit findings as stated in the entitlement Resolution