Reso25-02 0024 PC Reso 901 El Camino Real

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ATTY/RESO.0024/PC RESO 901 EL CAMINO REV: 04-11-25 VR Page 12 of 20 obligations to residential tenants, homeowners, or businesses permanently or temporarily displaced from the donated Affordable Site. xi. The Applicant and Affordable Housing Partner, as part of the Affordable Housing Plan, have submitted to the City evidence that a viable financing plan is in place evidencing the financial feasibility for the construction of the affordable units on the Affordable Site. xii. Under the Affordable Housing Plan, the Applicant provided evidence that the Affordable Site is served by quality public transit, as further described in the Program Guidelines. xiii. Under the Land Donation Agreement, the Affordable Housing Partner has agreed to irrevocably assign to the City, and grant to the City a security interest in and rights to the following: all contracts with architects, landscape architects, planners, geologists, surveyors, engineers, economists, or other development consultants entered into for the development of the Affordable Site; and all plans, specifications, drawings, data, and studies produced by these architects and development consultants; and has agreed to ensure that the third parties to the contracts for the development of the Affordable Site consent to the assignment of these contracts to the City. xiv. The Affordable Housing Site meets the land donation criteria in the Program Guidelines including, among others: i. The Submission of a term sheet signed by the Applicant and the Affordable Housing Partner meeting the requirements set forth in Chapter 2.I.c.1.b of the Program Guidelines; and ii. Evidence that the proposed development of the Affordable Housing Site is consistent with the Housing Element, General Plan, and Zoning and will not cause residential segregation. d. Land Donation Agreement. The Planning Commission recommends approval of the Land Donation Agreement and, subject to the terms thereof, recommends approval of the conveyance of the Affordable Site to the Affordable Housing Partner pursuant to the terms and conditions described therein as an alternative method of compliance under Article 29.8 of the Affordable Housing Ordinance. The Planning Commission recommends that the City Council agrees that the Applicant shall not be required to pay the Affordable Housing Impact Fee, if and only to the extent that the Applicant delivers fee ownership of the Affordable Site to the Affordable Housing Partner or otherwise satisfies its affordable housing obligation in accordance with the terms of the Land Donation Agreement.