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ATTY/RESO.0080/PC RESO 590 VETERANS & 91 WINSLOW PROJECT <br />REV: 11-14-24 JB <br />Page 8 of 8 <br />a deeper level of affordability. The proposed affordable units provide alternative <br />percentages and levels of affordability to the Affordable Housing Ordinance rental <br />requirement however such alternative percentages and levels of affordability are <br />equivalent to the requirements under Section 29.4(A) and provide a greater public <br />benefit than the standard requirements. The City uses an equivalency analysis, to <br />compare the value of providing units at different levels of affordability to determine <br />whether a proposed alternative meets the Affordable Housing Ordinance <br />requirements. Using this equivalency analysis, the City has determined that the <br />affordable units that are proposed to meet the Affordable Housing Ordinance rental <br />requirements provide a deeper level of affordability and in turn a greater public <br />benefit than what is required by the Affordable Housing Ordinance. <br /> <br />8. Based on the foregoing, the Planning Commission hereby approves the <br />Project in its entirety subject to the Conditions of Approval attached as Exhibit A to this <br />Resolution, which includes the approval of Architectural Permit (AP2021-075), Vesting <br />Tentative Map (TM2022-01), Affordable Housing Plan and alternative levels of <br />affordability proposed in the Affordable Housing Plan, State Density Bonus Letter and <br />requests for concessions, and Condominium Permit (CP2022-002). <br /> <br />9. This Resolution is effective upon its adoption. <br /> <br /> <br /> <br />* * * <br /> <br /> <br /> <br /> <br /> <br />