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L� • The total number of units allowed on the project site is as follows: Overall Project: 19.24 gross acres 19.25 x 8 units/acre =153.9 units or 153 units allowed 153.9 x.2 = 30.78 units or 30 units of affordable housing density credit allowed 153.9 + 30.7 = 184.6 units or 184 units allowed Pursuant to section 911.14(4) (zoning chapter) of the county's land development regulations (see attachment #4), the applicant has requested an affordable housing density bonus of 20%, or 30.7 units, with special buffering as required in the newly adopted comprehensive plan affordable housing policies. Those policies are also scheduled to be codified into the LDRs in May, 1998. The applicant is providing affordable housing through a financing program administered by the Florida Housing Finance Agency (FHFA). Under that program, the applicant is required to keep all of the units affordable for a 15 year period. For rental projects such as this one, "affordable" is defined in the county's LDRs as aproject having a monthly rental rate equal to .083 times 20% of the non -adjusted annual median family income for Indian River County as established by the FHFA. Satisfaction of the tax credit program requirements will satisfy county affordable housing density bonus requirements. Based on the proposed PD and proposed program participation, staff has determined that the applicant meets county requirements for a 20% affordable housing density bonus. To ensure that these requirements will be met, the applicant will need to provide the county with a letter from the state or federal agency responsible for funding and monitoring the project under the tax credit program. In addition, the LDRs require the applicant to record a restrictive covenant that specifies the terms of the affordable housing approval, and places any prospective buyer of the project on notice as to the terms of approval. 8. New Impervious Surface Area: 6.90 acres or 35.87% of the overall site 9. Open Space: Required: 30.00% Provided: 52.39% Note: The open space percentage does not reflect any credit for the 2.28 acres of lakes which constitute 11.74% of the overall site. 10. Recreation Area: Required: 2.30 acres Provided: 2.30 acres Note: Recreation area is generally provided at the pool facility, walking trail, and picnic pavilion. 11. Traffic: The applicant is proposing a driveway on SR 60 to provide access to the project. That driveway will be limited to right-inhight-out movements on SR 60. Also, the project will have a secondary driveway access to 161 Street, a Thoroughfare Plan road that is yet to be paved. The driveway on 161 Street will be a full movement driveway. Within the project site, the SR 60 driveway will provide access to the northern parking lot, and north building entrance. From there the driveway proceeds south, along the west side of the building, to the south parking lot and south building entrance. The driveway June 9, 1998 55 A