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IN THE CITY COUNCIL OF THE CITY OF SAN LEANDRO ORDINANCE NO. 2004-017 (1024/1099) AN ORDINANCE AMENDING ARTICLE 24, SECTION 5-2418 C1F THE SAN LEANDRO ZONING CODE AND ADOPTING A NEW PART VI, ARTICLE 31 TO INCORPORATE A NEW RESIDENTIAL DENSITY BONUS ORDINANCE The City Council of the City of San Leandro does ORDAIN as follows: Section 1. Section 5-2418 of the San Leandro Zoning code is amended to read as follows: "5-2418 Density Bonus for Including Low- and Moderate-Income Housing Consistent with the requirements of Section 65915.5 of the California Government Code, the City shall offer a density bonus to condominium conversions including low- or moderate- income housing units or lower-income household units. When an applicant for approval to convert apartments to a condominium project agrees to provide at least 33 percent of the total units of the proposed condominium project to persons of low- or moderate-income, as defined in Section 50093 of the California Health and Safety Code, or 15 percent of the total units to lower-income households, as defined in Section 50079.5 of the California Health and Safety Code, the City shall either (1) grant a 25 percent density bonus or (2) provide other incentives of equivalent financial value. Any density bonus provided under this section shall be governed by the requirements of n €-~t~e~r?-~-Part VI, Article 31. A. For purposes of this section, "density bonus" means an increase in units of 25 percent over the number of apartments to be provided within the existing structure or structures proposed for conversion. "Other incentives of equivalent financial value" shall not be construed to require the City to make any cash transfer payments or other monetary compensation to the subdivider, but may include the reduction or waiver of any required fees or the condominium conversion standards prescribed in Section 5-2412. B. An applicant shall be ineligible for a density bonus or other incentives under this section if the apartments proposed for conversion constitute a housing development for which a density bonus or equivalent financial incentive was provided under the provisions of c°^*~^r '' «~ Part VI, Article 31. Section 2. Anew Part VI, Article 31 is added to the San Leandro Zoning Code to read as follows: Article 31 Residential Density Bonus 6-3100 Purpose And Intent