RecDoc 2026-002924 Development Agreement 901 El Camino Real

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22206 920 Shasta Affordable Housing Plan and Density Bonus Request November 5, 2024 • Financing or a viable financingplan, which may include public finding sources, is in place for the proposed affordable housing units. The anticipated financing plan for the Affordable Housing includes four percent low- income housing tax credits and tax-exempt bond financing combined with the state's Affordable Housing and Sustainable Communities ("AHSC") program, State tax credits, a conventional permanent mortgage, and a land donation and gap financing from the developer of the proposed commercial project at 901 El Camino Real. • The proposed location is suitable for the proposed affordable housing, is consistent with the Housing Element, general plan, and zoning, and will not cause residential segregation; and The proposed location is suitable for the proposed affordable housing. To this end, the City's recently adopted Housing Element identifies this site as providing 100 dwelling rmits of affordable housing, and the Project is consistent with the density assumption for the site. Please note that under Government Code Section 65583.2(a) the site inventory included in the recently adopted Housing Element was to identify "land suitable for residential development..." "... that can be developed for housing within the planning period." The inventory included in the adopted Housing Element includes "... land suitable and available for residential development, including vacant sites and sites having realistic and demonstrated potential for redevelopment during the planning period to meet the locality's housing need..." Government Code Section 65583(a)(3). Please note that the Housing Element was required by law to include a statement of the City's goals, quantified objectives, and policies relative to affirmatively fi rthering fair housing. See Government Code Section 65583(b)(1). Given that the City identified 100 dwelling units on this site and the must affirmatively further fair housing pursuant to Government Code Section 65583(a)(3), and that there would be no residential segregation as a result of introducing 100 new dwelling units in compliance with Fair Housing laws, the Project would not cause residential segregation. Since the City has adopted the Housing Element and included all 100 dwelling units in the site inventory list, the City has already made the determination that the proposed location is suitable for affordable housing and is consistent with the Housing Element. The Project would be consistent with the General Plan land use designation of Mixed -Use Transition. Because the law requires the General Plan to be internally consistent, and the Housing Element was just adopted, other elements of the General Plan cannot be inconsistent with the Housing Element. Therefore, the Project is consistent with the General Plan. The zoning for the site is MUT-S and the Project would be consistent with that designation. To the extent that one could potentially make an argument that the Project would not be consistent with the General Plan or zoning, receipt of a density bonus or incentives do not make the Project inconsistent. See Government Code Sections 65915(4)(5) and 0)(1). Please see response #4 above, to summarize, the Applicant is requesting the land donation option. ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT REV: 10-16-25 VR Exhibit B-1 - 10