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Page 3 of 12 <br /> <br />3.0 Construction Schedule <br />HSR is targeting construction start for Parcel A in the first half of 2026. Construction on Parcel D is scheduled to <br />begin shortly thereafter, with an anticipated lag of approximately 3 months. To ensure compliance with the City’s <br />requirements, HSR proposes to utilize the Concurrent Occupancy Alternative option #2, as outlined in Section <br />29.8.D.2 and the Affordable Housing Program Guidelines, to satisfy the concurrent occupancy requirements. Prior <br />to requesting a temporary certificate of occupancy for Parcel A, HSR will pull building permits for Parcel D and <br />provide a deposit in compliance with the City’s Affordable Housing Program Guidelines. Additionally, the City will <br />release the deposit upon the successful completion of specific construction milestones for the affordable units in <br />Parcel D, as outlined in the guidelines. <br /> <br />4.0 General Acknowledgements <br />Accordingly, this Affordable Housing Plan shall provide for the following as required by Section 29.6: <br /> <br />A. All affordable units in Parcels A&D will be of comparable overall quality of construction to the market-rate <br />units. <br />1. The exterior appearance of the affordable units will be compatible with that of the market rate <br />units; <br />2. The interior finishes and amenities will not materially differ from those provided in the base model <br />market rate units; <br />3. Affordable Units must be comparable in size (by bedroom count and square footage) to the <br />market-rate units and reasonably dispersed within the residential development, with unit <br />locations comparable to those of the market-rate units. Note that HSR is requesting a modification <br />to the square footage comparability requirement via a concession request in the Project’s Density <br />Bonus Request. <br />Current Proposal <br />AMI Affordability Level No. of Units per Original <br />Entitlements <br />No. of Units Provided with <br />Commercial Impact Fee 1 <br />Parcel A 59 36 <br />Extremely Low 0 0 <br />Very Low 0 11 <br />Low 38 0 <br />Moderate 21 25 <br />Parcel D 50 45 <br />Extremely Low <br />Very Low 9 21 <br />Low 21 0 <br />Moderate 20 24 <br />Parcel F 38 38 <br />Extremely Low 15 15 <br />Very Low 15 15 <br />Low 8 8 <br />Moderate 0 0 <br />TOTAL 147 119 <br />Commercial Affordable <br />Housing Impact Fee $0 $5,822,001 <br />1 Applicant is using equivalency ratios to provide fewer units but a deeper level of affordability <br />8.B. - Page 37 of 120 <br />200