An application for a density bonus, incentives or concessions, waivers or reductions of development standards, parking ratio reductions, or other benefits available under Density Bonus Law shall be submitted at the same time as the application for the applicable development project. The application shall be on a form provided by the city and shall include applicable review fees. The application shall also include reasonable documentation to establish eligibility for the requested density bonus, incentives or concessions, waivers or reductions of development standards, parking ratio reductions, or other benefits available under Density Bonus Law, as determined by the director, including reasonable documentation to establish that requested incentives or concessions will result in identifiable and actual cost reductions for the project.