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Ordinance No. 2286 <br />Page 10 of 13 <br />F. Nothing in this chapter requires the provision of direct financial incentives from the city for the housing <br />development, including, but not limited to, the provision of financial subsidies, publicly owned land, fee <br />waivers, or waiver of dedication requirements. The city, at its sole discretion, may choose to provide such <br />direct financial incentives. <br />17.38.070 Development standards. <br />A. Building permits and final inspections or certificates of occupancy shall be issued concurrently for the <br />market rate units and for any affordable units that qualified the project for a density bonus, incentive, <br />waiver, or parking reduction, so that the affordable units comprise the required percentage of total units. <br />B. All units provided as density bonus units shall comply with the development standards set forth in Section <br />17.44.050 of this code. <br />17.38.080 Density bonus for commercial development. <br />A. The following definitions shall apply to this Section 17.38.080: <br />1. “Commercial development” means a development project for nonresidential and nonindustrial <br />uses. <br />2. “Commercial development bonus” means modification of development standards mutually agreed <br />upon by the city and a commercial developer and provided to a commercial development eligible <br />for such a bonus under subparagraph 17.38.080(C). Examples of a commercial development bonus <br />include an increase in floor area ratio, increased building height, or reduced parking. <br />3. “Partnered housing agreement” means an agreement approved by the city between a commercial <br />developer and a housing developer identifying how the commercial development will provide <br />housing available at an affordable ownership cost or affordable rent consisted with subparagraph <br />(h)(3). A partnered housing agreement may consist of the formation of a partnership, limited <br />liability company, corporation, or other entity recognized by the state in which the commercial <br />develop and the housing developer are each partners, members, shareholders, or other participants, <br />or a contract between the commercial developer and the housing developer for the development of <br />both the commercial developer and the housing development. <br />B. When an applicant proposes to construct a commercial development and has entered into a partnered <br />housing agreement approved by the city, the city shall grant a commercial development bonus mutually <br />agreed upon by the developer and the city. The commercial development bonus shall not include a <br />reduction or waiver in fees imposed on the commercial development to provide for affordable housing. <br />C. The partnered housing agreement shall include all of the following provisions: <br />1. The housing development shall be located either: (i) on the site of the commercial development; or <br />(ii) on a site within the city that is within one-half mile of a major transit stop, as defined in Public <br />Resources Code Section 21155, and is in close proximity to public amenities, including schools <br />and employment centers. <br />Page 34 of 658