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P24-0334 Planning Commission 3 of 7 number of units on a parcel reduced the cost to develop each unit, creating greater feasibility to provide affordable units). Incentives and waivers are used to accommodate modifications to a local jurisdiction’s development requirements as a means of reducing costs and to physically accommodate a residential project, to improve its feasibility . Developers have the option to invoke or request use of the SDBL. A project that qualifies for a density bonus may receive the following: • Density Bonus: An increase above the maximum allowed density permitted in the General Plan Land Use Element. The amount of the bonus is set on a sliding scale based on the percentage of affordable units at each income level. For example, a project that proposes 20 units and dedicates five percent of those units (i.e., one unit) as affordable to very low-income households would be eligible for a bonus of 20 percent, or four additional units, totaling 24 units allowed. The affordable unit requirement applies to the “base project,” or the project that would be allowed under the provisions of the zoning ordinance without the density bonus; • Incentives/Concessions: Modifications to regulatory or development standards that result in actual and identifiable cost reductions to provide for affordable housing costs or rents; • Waivers: Modifications to development standards that would physically prevent the construction of a housing development at the density permitted with a density bonus and any concessions; and • Parking Ratios: Defined parking ratios in the State law that apply to the residential use within a qualifying project, which are lower than current PMC ratios. The SDBL requires local governments to adopt an ordinance to specify how it will implement the SDBL. In other words, the statute only requires the local ordinance describe the local government’s procedures to request and process a density bonus request from an applicant. The specific requirements and prescriptive parameters (e.g., number of bonus units) set forth under State law apply to any project within the jurisdiction and supersede more restrictive local regulations. Additionally, a jurisdiction that does not adopt a local density bonus ordinance is not relieved from complying with the SDBL requirements. Following adoption of the City’s Density Bonus Ordinance in 2013, the State has made significant changes to SDBL in support of incentivizing affordable housing and increasing housing production. To be consistent with these changes, and to implement 6th Cycle Housing Element Program 2.7, Exhibit A to this agenda report provides revised text to the Chapter 17.38 of the PMC. Major Transit Stop State law in various sections refers to the term, “major transit stop,” typically to provide alternative (most often reduced) requirements for development standards (e.g., parking, density maximum, maximum permitted height). For example: