As a condition of the approval of a density bonus, incentives or concessions, waivers or reductions of development standards, parking ratio reductions, or other benefits available under Density Bonus Law, the applicant shall agree to enter into a density bonus agreement or other similar binding document with the city in a form approved by the city attorney and consistent with the requirements of Density Bonus Law and other applicable laws. The city manager is authorized to execute the density bonus agreement on behalf of the city. The executed density bonus agreement shall be recorded on the parcel or parcels designated for the construction of qualifying units, or donated for the purpose of constructing qualifying units, or any other parcel required to be restricted by Density Bonus Law. The approval and recordation shall occur prior to the recordation of any final map for the project or, where a map is not being processed, prior to the issuance of building permits for the project. The density bonus agreement shall be binding upon all future owners and successors in interest.
(Ord. 1214 § 2, 2013; Ord. 1309, 8/27/2024)