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Walnut City Zoning Code

CHAPTER 6

100 DENSITY BONUS FOR AFFORDABLE HOUSING DEVELOPMENTS

§ 6.100.010 Purpose.

The purpose of this chapter is to: (1) establish procedures for implementing state density bonus requirements, as set forth in California Government Code Section 65915, as amended; (2) increase the production of affordable housing, consistent with the City’s goals, objectives, and policies; and (3) implement the provisions of the City’s general plan housing element policies and programs relating to the provision of affordable housing. The regulations are intended to assist the housing industry in providing adequate and affordable shelter for all economic segments of the community and to provide a balance of housing opportunities for low-income, very low-income, and senior households, as well as moderate-income owners of condominium or planned developments as defined in Civil Code Section 1351.

§ 6.100.020 Applicability.

This chapter applies to any residential development of five or more dwelling units when the written request of an applicant proposes density beyond that permitted by the underlying zone in exchange for an agreement that a portion of the total dwelling units in the proposed development is reserved for low- or very low-income households, senior citizens or moderate-income families in a condominium or planned development.

§ 6.100.030 Definitions.

The following definitions shall apply to this chapter:
"Affordable housing agreement"
means an agreement between the applicant and the City guaranteeing the affordability of rental or ownership units to applicable income households for a period of not less than 30 years, and that is in accordance with the provisions of this chapter.
"Affordable housing costs"
bears the same meaning as defined in Section 50052.5 of the California Health and Safety Code, as the same may be amended from time to time, or any state law replacing Section 50052.5.
"Affordable rent"
means the level of rent defined by Section 50053 of the California Health and Safety Code.
"Applicant"
means a developer or applicant for a density bonus pursuant to Government Code Section 65915, subdivision (b), of the California Government Code.
"Child care facility"
means a child day care facility other than a family day care home, including, but not limited to, infant centers, preschools, extended day care facilities, and school-age child care centers.
"City"
means the City of Walnut municipality.
"Condominium project"
means a project as defined by Section 1351(f) of the Civil Code, as the same may be amended from time to time.
"Density bonus"
means a density increase over the otherwise maximum allowable residential density under the applicable zoning ordinance and land use element of the general plan as of the date of application by the applicant to the City.
"Development standard"
includes site or construction conditions that apply to a residential development pursuant to any ordinance, General Plan element, specific plan, or other local condition, law, policy, resolution, or regulation.
"Families of low or moderate income"
means persons or families whose income meets the requirements set forth in California Health and Safety Code Section 50093, as the same may be amended from time to time, or any state law replacing Section 50093.
"Housing development"
means one or more groups of projects for residential units with a minimum of five residential units, including a condominium project and a planned development. "Housing development" also includes either: (1) a project to substantially rehabilitate and convert an existing commercial building to residential use; or (2) the substantial rehabilitation of an existing multifamily dwelling, as defined in subdivision (d) of Government Code Section 65863.4, as the same may be amended from time to time, or any state law replacing Section 65863.4, where the result of the rehabilitation would be a net increase in available residential units.
"Lower-income households"
means households defined in Section 50079.5 of the Health and Safety Code, as the same may be amended from time to time, or any state law replacing Section 50079.5.
"Moderate income" or "persons and families of moderate income"
means persons and families defined in Section 50093 of the Health and Safety Code, as the same may be amended from time to time, or any state law replacing Section 50093.
"Senior citizen housing development"
is defined as a development of at least 35 dwelling units reserved for senior citizen households and as further described in Sections 51.3 and 51.12 of the Civil Code.
"Very low-income households"
means households defined in Section 50105 of the Health and Safety Code, as the same may be amended from time to time, or any state law replacing Section 50105.

§ 6.100.040 Application and review procedures.

A. 
A written application for a density bonus, incentive, concession, waiver, or modification pursuant to this section shall be submitted with the first application that is submitted for approval of a housing development and processed concurrently with all other applications required for the housing development. Notwithstanding any other requirements, affordable housing projects processed under this section shall require approval of a conditional use permit, subject to the requirements of Government Code Section 65589.5(d). The application shall be submitted on a form prescribed by the City and shall include at least the following information:
1. 
Site plan showing total number of units, number and location of affordable housing units, and number and location of proposed density bonus units.
2. 
Level of affordability of affordable housing units and proposals for ensuring affordability.
3. 
A development pro forma with the capital costs, operating expenses, return on investment, loan-to-value ratio and the debt coverage ratio, including the contribution(s) provided by any applicable subsidy program(s), and the economic effect created by the minimum 30-year use and income restrictions on the affordable housing units.
4. 
An appraisal report indicating the value of the density bonus and of the incentive(s)/ concession(s).
5. 
A specific description of any requested incentives, concessions, waivers or modifications of development standards or modified parking standards.
6. 
If a density bonus or concession is requested in connection with a land donation, the application shall show the location of the land to be dedicated and provide evidence that each of the findings included in Section 6.100.060 can be made.
7. 
If a density bonus or concession/incentive is requested for a childcare facility, the application shall show the location and square footage of the child care facilities and provide evidence that each of the findings included in Section 6.100.080 can be made.
B. 
Upon submission of the application to the City, the Community Development Director or designee shall determine if the application is complete and conforms to the provisions of this chapter.
C. 
An application for a density bonus or reduction of a development standard shall be considered by and acted upon by the Planning Commission subject to the same administrative appeal procedure, if any. In accordance with state law, neither the granting of a concession, incentive, waiver, or modification nor the granting of a density bonus shall be interpreted, in and of itself, to require a general plan amendment, zoning change, variance, or other discretionary approval.
D. 
For housing developments requesting a waiver, modification or reduction of a development standard, an application pursuant to this section shall be heard by the Planning Commission. A public hearing shall be held by the Planning Commission and the Commission shall issue a determination. Pursuant to Government Code Section 65915, the Planning Commission shall approve the requested waiver/modification or reduction of development standards, unless one of the following conditions applies:
1. 
The waiver/modification is not required to make the proposed affordable housing units feasible; or
2. 
The waiver/modification will have a specific adverse impact.
E. 
The decision of the Planning Commission may be appealed to the City Council in the manner provided in Section 6.80.170.
F. 
Notice of any City determination pursuant to this section shall be provided pursuant to Section 6.80.160.

§ 6.100.050 Types of bonuses and incentives allowed.

A. 
Very Low and Lower Income Housing and Senior Citizen Housing. Upon written request to the City, an applicant for a housing development is eligible for one density bonus of at least 20%, but not more than 35%, and incentives or concessions as provided in this section when the applicant for the housing development agrees or proposes to construct at least any one of the following:
1. 
Ten percent of the total units of a housing development for lower-income households;
2. 
Five percent of the total units of a housing development for very low-income households;
3. 
A senior citizen housing development with 35 or more units reserved for senior citizen households and as further described in Sections 51.3 and 51.12 of the Civil Code.
B. 
Moderate Income Housing. Upon written request to the City, an applicant for a housing development is eligible for one density bonus of five percent over the maximum residential density if the applicant agrees to construct the housing development in accordance with all of the following criteria:
1. 
At least 10% of the total dwelling units, excluding any units permitted by the density bonus, are provided at affordable ownership costs to moderate income households; and
2. 
The housing development is a common interest project as defined by Section 1351 of the California Civil Code; and
3. 
All of the dwelling units in the housing development are offered for sale to the public.
C. 
Higher Density Bonus for Greater Contribution of Affordable Units. Upon written request to the City, an applicant for a housing development that is eligible for a density bonus based upon the contribution of affordable units, may receive a higher amount of density bonus if the percentage of very low, lower, and moderate income housing units exceeds the base percentage established in paragraph (C)(1) or (2) of this section, as follows:
1. 
Very Low Income Units. For each one percent increase above five percent in affordable units for very low income households, the density bonus shall be increased by two and one-half percent up to a maximum of 35%, as follows:
Table 1: Very Low Income Units
Percentage Very Low Income Units
Percentage Density Bonus
5
20
6
22.5
7
25
8
27.5
9
30
10
32.5
11
35
2. 
Lower Income Units. For each one percent increase above 10% in affordable units for lower income households, the density bonus shall be increased by one and one-half percent up to a maximum of 35%, as follows:
Table 2: Lower Income Units
Percentage Lower Income Units
Percentage Density Bonus
10
20
11
21.5
12
23
13
24.5
14
26
15
27.5
16
29
17
30.5
18
32
19
33.5
20
35
3. 
Moderate Income Ownership Units. For each one percent increase above 10% in affordable units offered for sale to moderate income households, the density bonus shall be increased by one percent up to a maximum of 35%, as follows:
Table 3: Moderate Income Units
Percentage Moderate Income Units
Percentage Density Bonus
10
5
11
6
12
7
13
8
14
9
15
10
16
11
17
12
18
13
19
14
20
15
21
16
22
17
23
18
24
19
25
20
26
21
27
22
28
23
29
24
30
25
31
26
32
27
33
28
34
29
35
30
36
31
37
32
38
33
39
34
40
35
4. 
Continued Affordability. Affordable units qualifying a housing development for a density bonus shall remain affordable as follows:
a. 
Very low income and low income household units shall remain affordable to the designated income group for a minimum of 30 years, or for a longer period of time if required by any construction or mortgage financing assistance program, mortgage insurance program, or rental subsidy program applicable to the dwelling units.
b. 
Moderate income household units shall remain affordable for a minimum of 30 years, or for a longer period of time if required by any construction or mortgage financing assistance program, mortgage insurance program applicable to the dwelling units.
c. 
Notwithstanding the foregoing, very low, low, and moderate income units in housing developments qualified for a density bonus that are located in or found by the successor agency to benefit an existing redevelopment project area shall remain at an affordable level for a period of not less than 45 years for owner occupied units, and not less than 55 years for rental units, in accordance with applicable provisions. Upon resale, the City shall enforce an equity sharing agreement, unless it is in conflict with the requirements of another public funding source or law. The equity sharing agreement shall include the following provisions:
i. 
Upon resale, the seller of the unit shall retain the value of any improvements, the down payment, and the seller’s proportionate share of appreciation. The City shall recapture any initial subsidy and its proportionate share of appreciation;
ii. 
The City’s initial subsidy shall be equal to the fair market value of the home at the time of the initial sale minus the initial sale price to the moderate income household, plus the amount of any down payment assistance or mortgage assistance. If upon resale the market value is lower than the initial market value, then the value at the time of the resale shall be used as the initial market value;
iii. 
The City’s proportionate share of appreciation shall be equal to the ratio of the City’s initial subsidy to the fair market value of the home at the time of initial sale.
D. 
Specification of Basis for Density Bonus. Each applicant who requests a density bonus pursuant to this section shall elect whether the bonus will be awarded on the basis of subsections A through C of this section. Each housing development is entitled to only one density bonus, which may be selected based on the percentage of either very low income affordable housing units, lower income affordable housing units or moderate income affordable housing units, or the development’s status as a senior citizen housing development. Density bonuses from more than one of these categories may not be combined.

§ 6.100.060 Density bonus for donations of land.

A. 
Land Suitability. Upon written request, when an applicant for a tentative map, subdivision map, parcel map, or other residential development approval qualified for a density bonus pursuant to Section 6.100.050 also donates land to the City in accordance with this section, the applicant shall be entitled to an additional density bonus. Applicants donating land to the City shall be eligible for an additional 15% density bonus at the site of the housing development if the donated land is suitable for the construction of very low income units equaling at least 10% of the market rate units being constructed for the project. The density bonus provided pursuant to this section shall be in addition to any density bonus granted pursuant to Section 6.100.050, up to a maximum combined density bonus of 35%.
B. 
Qualification Criteria. To qualify for the additional density bonus described in subsection A of this section, the donation of land must meet all of the following criteria:
1. 
The tentative map, subdivision map, parcel map, or other residential development must otherwise be subject to a density bonus pursuant to Section 6.100.050; and
2. 
The land must be transferred no later than the date of the approval of the final subdivision map, parcel map, or housing development application; and
3. 
The developable acreage and zoning classification of the land being transferred must be sufficient to permit construction of dwelling units affordable to very low income households in an amount not less than 10% of the total number of market rate dwelling units in the proposed development (i.e., the proposed development before the addition of any density bonus); and
4. 
The donated land is at least one acre in size or is large enough to permit development of at least 40 units, has the appropriate general plan land use designation, has the appropriate zoning and development standards for affordable housing and, at the time of project approval is, or at the time of construction will be, served by adequate public facilities and infrastructure; and
5. 
No later than the date of approval of the final map, parcel map, or other development application for the housing development, the donated land must have all of the applicable permits and approvals (other than building permits) necessary for the development of the very low income housing units on the donated land, except that the City may subject the proposed housing development to subsequent design review to the extent authorized by California Government Code Section 65583.2 subsection (i) if the design is not reviewed by the City prior to the time of transfer; and
6. 
The donated land is subject to a deed restriction ensuring continued affordability of the very low income units consistent with Section 6.100.020, which deed restriction shall be recorded upon the donated property at the time of its transfer; and
7. 
The land will be transferred to the City or to a housing developer approved by the City. The City reserves the right to require the applicant to identify a developer and to require that the land be transferred to that developer; and
8. 
The land is within the boundary of the proposed housing development or within one-fourth mile of the boundary of the proposed housing development; and
9. 
No later than the date of approval of the final map, parcel map, or other development application for the housing development, a proposed source of funding for the construction of the very low income units shall be identified.
C. 
Additional Density Bonus Based on Greater Suitability of Land for Very Low Income Housing. For each one percent increase above the minimum 10% in the number of very low income housing units that can be accommodated on the donated land, the maximum density bonus shall be increased by one percent, up to a maximum of 35%, as follows:
Table 4: Land Donation
Percentage of Very Low Income Units that Can Be Accommodated on Donated Land
Percentage of Additional Density Bonus
10
15
11
16
12
17
13
18
14
19
15
20
16
21
17
22
18
23
19
24
20
25
21
26
22
27
23
28
24
29
25
30
26
31
27
32
28
33
29
34
30
35

§ 6.100.070 Condominium conversions.

A. 
An applicant for a conversion of existing rental apartments to condominiums is eligible for either a density bonus or other incentives of equivalent financial value, at the option of the City, if the applicant agrees to provide: (1) at least 33% of the total units of the proposed condominium project to persons and families of low or moderate income as defined in Section 50093 of the Health and Safety Code; or (2) at least 15% of the total units of the proposed condominium project to lower income households as defined in Section 50079.5 of the Health and Safety Code; and (3) the applicant agrees to pay for the reasonably necessary administrative costs incurred by the City pursuant to this section.
B. 
Condominium conversions qualified under subsection A of this section, may receive one of the following, at the City’s option:
1. 
A flat density bonus of 25% to be provided within the existing structure or structures proposed for conversion, excepting that a condominium conversion is ineligible for this bonus if the apartments to be converted originally received a density bonus or incentives pursuant to any other provisions of this chapter or pursuant to California Government Code Section 65915. An applicant may choose to implement a lower density bonus.
2. 
Incentives of equivalent financial value in the form of a reduction or waiver of requirements or fees which the City might otherwise apply as conditions of conversion approval. "Other incentives of equivalent financial value" shall not be construed to require the City to provide cash transfer payments or other monetary compensation to the condominium conversion project or its applicant.
C. 
The City reserves the right to place such reasonable conditions on the granting of a density bonus or other incentives of equivalent financial value pursuant to this section as it finds appropriate, including, but not limited to, conditions which assure continued affordability of units to subsequent purchasers who are persons and families of low and moderate income or lower income households.
D. 
Condominium conversions are eligible only for the granting of a density bonus or incentive of equivalent value pursuant to this section, which bonus or incentive may not be granted in addition to, or combined with, any other incentives, concessions, density bonuses or waivers and reductions of development standards pursuant to other sections of this chapter. Nothing in this section shall be construed to require the City to approve a proposal to convert rental apartments into condominiums.

§ 6.100.080 Childcare facilities.

A. 
A housing development that is eligible for a density bonus pursuant to Section 6.100.050, and also includes a childcare facility qualified under this section is eligible for either of the following, at the option of the City, if requested in writing by the applicant:
1. 
An additional density bonus that is an amount of square feet of residential space that is equal to or greater than the amount of square feet in the childcare facility; or
2. 
An additional concession or incentive that contributes significantly to the economic feasibility of the construction of the childcare facility.
B. 
A childcare facility will only qualify the housing development for an additional density bonus or incentive or concession if it is: (1) located on the premises of, as part of, or adjacent to the housing development; and (2) the housing development is otherwise eligible for a density bonus pursuant to Section 6.100.050. As a condition of approving the additional density bonus for the housing development, the childcare facility must meet all of the following criteria:
1. 
The childcare facility may be used only for childcare for a period of time that is as long as or longer than the period of time during which the affordable units are required to remain affordable as stated in deed restrictions and pursuant to Section 6.100.050; and
2. 
Of the children who attend the childcare facility, the percentage of children of very low income households, lower income households, or moderate income households shall be equal to or greater than the percentage of dwelling units that are proposed to be affordable to very low income households, lower income households, or moderate income households pursuant to Section 6.100.050.
C. 
Notwithstanding any requirement of this section, the City shall not be required to provide a density bonus or concession or incentive for a childcare facility if it makes a written finding, based upon substantial evidence, that the community already has adequate childcare facilities.

§ 6.100.090 General provisions governing density bonus calculations.

A. 
For the purposes of any provisions in this chapter, an applicant may elect to accept a lesser percentage of density bonus than that to which the housing development is eligible.
B. 
When calculating the number of permitted density bonus units, any calculations resulting in fractional units shall be rounded up to the next larger whole number.
C. 
For the purpose of calculating a density bonus, the dwelling units shall be on contiguous sites that are the subject of one development application, but do not have to be based upon individual subdivision maps or parcels. The density bonus shall be permitted in geographic areas of the housing development other than the areas where the affordable units are located.
D. 
For the purposes of this chapter, the "total units" or "total dwelling units" in a housing development does not include those units added by any density bonus.
E. 
Regardless of the number or extent of affordable units, senior housing, land dedication, childcare facilities or other qualifications for a density bonus provided in any single housing development, no housing development may be entitled to a total density bonus of more than 35%.
Table 5: Density Bonus Summary
Types of Affordable Units Providing Eligibility for a Density Bonus
Minimum Percent
Bonus Granted
Additional Bonus for Each 1% Increase in Affordable Units
Percent of Affordable Units Required for Maximum 35% Bonus
A density bonus may be selected from only 1 category, except that bonuses for land donation may be combined with others, up to a maximum of 35%, and an additional square foot bonus may be granted for a childcare facility
Affordable housing:
Very low income
5%
20%
2.5%
11%
Lower income
10%
20%
1.5%
20%
Moderate income (ownership units only)
10%
5%
1%
40%
Senior citizen housing
Qualified senior citizen housing development
20% of the senior citizen housing units
-
-
Land donation for very low income housing
Land donated can accommodate 10% of market rate units, plus housing development qualifies for density bonus as an affordable or senior project
15%
1%
30% of market rate units (assuming housing development provides 5% very low income units)
Condominium conversion:
Lower income
15%
25%1
-
-
Low/moderate income
33%
25%1
-
-
Childcare facility
Housing development qualifies for density bonus as an affordable or senior project
Square feet in childcare facility1
-
-
Note:
1
Maximum of 25% bonus for condominium conversions, or an incentive of equal value, at the City’s option.

§ 6.100.100 Incentives and concessions for affordable housing.

An applicant for a density bonus may also submit to the City a proposal for specific incentives or concessions in exchange for the provision of affordable housing units in accordance with this section.
A. 
Number of Incentives and Concessions. If the conditions of this chapter are met by an applicant, the City may grant an applicant applying for incentives or concessions the following number of incentives or concessions:
1. 
One incentive or concession for housing developments that include: at least 10% of the total units affordable to lower income households; or at least five percent of the total units affordable to very low income households; or at least 10% of the total units affordable to persons and families of moderate income in a common interest development.
2. 
Two incentives or concessions for housing developments that include: at least 20% of the total units affordable to lower income households; or at least 10% of the total units affordable to very low income households; or at least 20% of the total units affordable to persons and families of moderate income in a common interest development.
3. 
Three incentives or concessions for housing developments that include: at least 30% of the total units for lower income households; or at least 15% for very low income households; or at least 30% for persons and families of moderate income in a common interest development.
Table 6: Incentives and Concessions Summary
Affordable Units or Category
Percent of Affordable Units
Pursuant to state density bonus
Affordable housing:
Very low income
5%
10%
15%
Lower income
10%
20%
30%
Moderate income (ownership units only)
10%
20%
30%
Maximum incentive(s)/concession(s)1,2,3
1
2
3
Notes:
1
An incentive or concession may be requested only if an application is also made for a density bonus.
2
Incentives or concessions may be selected from only one category (very low, lower, or moderate).
3
No incentives or concessions are available for land donation.
B. 
Available Concessions or Incentives. For the purposes of this section, available concessions or incentives may include any of the following:
1. 
A reduction in site development standards (e.g., setbacks, parcels size, parking requirements, or architectural design). Development standards mean any ordinance, general plan element, specific plan, or resolution.
2. 
Approval of mixed use zoning in conjunction with the housing development if commercial, office, industrial, or other land uses will reduce the cost of the housing development and if the commercial, office, industrial, or other land uses are compatible with the housing project and the existing or planned development in the area where the proposed housing development will be located.
3. 
Other regulatory incentives or concessions proposed by the applicant or the City that result in identifiable, financially sufficient, and actual cost reductions.
4. 
For purposes of this section, the parking ratios set forth in Government Code Section 65915 (and Section 6.100.120 of this chapter) for qualified affordable housing projects shall be deemed a concession or incentive available to the applicant.
C. 
Findings to Deny Incentive or Concession. The City shall grant the concession or incentive requested by the applicant unless the City makes a written finding, based upon substantial evidence, of any of the following:
1. 
The concession or incentive is not required in order to provide for affordable housing costs or for affordable rents for the targeted units to be set as specified in Section 6.100.050; or
2. 
The concession or incentive would have a specific adverse impact; or
3. 
The concession or incentive would be contrary to state or federal law.
D. 
Exceptions. This section does not limit or require the provision of direct financial incentives for the housing development, including the provision of publicly owned land, by the City or the waiver of fees or dedication requirements. Nor does any provision of this section require the City to grant an incentive or concession found to have a specific adverse impact.
E. 
Amendment, Zone Change. The granting of a concession or incentive shall not be interpreted, in and of itself, to require a general plan amendment.

§ 6.100.110 Waivers and modifications of development standards.

A. 
Applicants granted a density bonus pursuant to Section 6.100.050 may, by written proposal, seek a waiver, modification or reduction of development standards that would otherwise have the effect of physically precluding the construction of the housing development at the densities or with the concessions or incentives permitted pursuant to this chapter. The applicant may also request a meeting with City staff to present its request for waiver and modifications.
B. 
In order to obtain a waiver or modification of development standards, the applicant shall show that the development standards will have the effect of impairing or precluding the construction of a housing development meeting the criteria of Section 6.100.050, at the densities or with the concessions or incentives permitted by this chapter.
C. 
A proposal for the waiver or reduction of development standards pursuant to this section shall neither reduce nor increase the number of incentives or concessions to which the applicant is entitled pursuant to Section 6.100.100.
D. 
The City may deny a request for any waiver, modification or reduction of development standards if the waiver, modification or reduction would have a specific adverse impact.

§ 6.100.120 Parking incentives.

Upon the written request of the applicant for a housing development meeting the criteria for a density bonus under Section 6.100.050, the City shall not require a vehicular parking ratio that exceeds the following:
A. 
Zero to one bedroom units: one on-site parking space.
B. 
Two to three bedroom units: two on-site parking spaces.
C. 
Four and more bedroom units: two and one-half parking spaces.
Guest parking and handicapped parking shall be included within the maximum number of spaces that may be required. If the total number of parking spaces required for a housing development is other than a whole number, the number shall be rounded up to the next whole number. For purposes of this section, a housing development may provide on-site parking through tandem parking or uncovered parking, but not through on street parking. For purposes of this chapter, the parking ratios set forth in this section shall be deemed a concession or incentive available to the applicant under Section 6.100.100.

§ 6.100.130 Standards for density bonus housing developments.

A. 
Affordable units qualifying a housing development for a density bonus shall be reasonably dispersed throughout the housing development and compatible with the design of market rate units in terms of appearance, materials, and finished quality. The applicant may reduce the interior amenities and square footage of inclusionary units, provided all units conform to all other requirements of this municipal code.
B. 
For developments with multiple market rate units containing differing numbers of bedrooms, affordable units qualifying a housing development for a density bonus shall be representative of the market rate unit mix.
C. 
All building permits for affordable units qualifying a housing development for a density bonus shall be issued concurrently with, or prior to, issuance of building permits for the market rate units, and the affordable units shall be constructed concurrently with, or prior to, construction of the market rate units. Occupancy permits and final inspections for affordable units qualifying a housing development for a density bonus shall be approved concurrently with, or prior to, approval of occupancy permits and final inspections for the market rate units.

§ 6.100.140 Developer affordable housing agreement.

A. 
Applications requesting a density bonus shall agree to enter into a density bonus housing agreement with the City. The terms of the draft agreement shall be reviewed and revised as appropriate by the Director of Development Services, who shall formulate a recommendation to the Planning Commission for final approval. A density bonus housing agreement shall be made a condition of the discretionary planning permits for all housing developments pursuant to this chapter and shall be recorded as a restriction on any parcels on which the affordable units or density bonus units will be constructed.
B. 
The density bonus housing agreement shall be recorded prior to final or parcel map approval, or, where the housing development does not include a map, prior to issuance of a building permit for any structure in the housing development. The density bonus housing agreement shall run with the land and bind future owners and successors in interest.
C. 
Mathematical computations need not be precise, so long as they substantially comply with the standards set forth in this chapter.