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22206 920 Shasta <br />Affordable Housing Plan and Density Bonus Request <br />November 5, 2024 <br />The 920 Shasta project would satisfy the affordable housing requirement of the 901 El <br />Camino office project by providing 100 income -restricted affordable units. Pursuant to City <br />Code Section 29.8D, City would need to make these findings for approval of off-site units: <br />Finding 1. The proposed affordable units comply with the applicable standards in this <br />Article, including, without limitation, the requirement that the affordable units be made <br />available for concurrent occupancy per Section 29.6B. <br />The affordable units would comply with the applicable standards of the City Code found <br />in Section 29.6. Section 29.6A requires the quality of construction and number of bedrooms <br />for the affordable units to be comparable to market rate units in the development. Since the <br />920 Shasta project consists of 100 percent affordable units, City Code Section 29.6A is <br />inapplicable. <br />Section 29.6C requires at least a 55 -year duration of affordability. The Project would <br />commit to be legally restricted to occupancy for restricted incomes for at least 55 years. <br />Section 29.6D states that no household may occupy an affordable unit until the Community <br />Development Director or designee has approved a Below Market Rate Tenant Selection <br />and Management Plan which shall include eligibility requirements specific to the Project. <br />The Applicant would submit a Below Market Rate Tenant Selection and Management Plan <br />for Director or designee approval prior to issuance of a Certificate of Occupancy for the <br />Proj ect. <br />Section 29.6E requires the affordable units to be a principal residence, unless otherwise <br />approved in writing for rental to a third party for a limited period of time. The Project <br />would comply with this requirement and would be amenable to City imposition of a <br />condition of approval requiring principal residency for tenants. <br />Section 29.6F requires the affordable project to comply with Local Preference, so long as <br />it complies with Fair Housing law and is allowed by the secured public finding sources, <br />the Developer will comply with this requirement. <br />Finding 2. The affordable units will mitigate the impact of'the project on the need for <br />affordable housing if the units are being provided under the Affordable Housing Impact <br />Fee program. <br />As noted earlier, the 920 Shasta project will provide 100 affordable units and the 901 El <br />Camino Real project off-site in lieu requirement would be 31 affordable units. <br />Section 29.7.1) Compliance <br />The Project meets the requirements of Section 29.7.D. Approval of Off -Site Affordable <br />Housing Units since the City would be able to make the two listed findings above that are <br />found in City Code Section 29.7C, and that the Project meets all of the following <br />conditions: <br />ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT <br />REV: 10-16-25 VR <br />Exhibit B-1 - 9 <br />