City Council

18. Density Bonus Agreement Post No. 2026-03 - Watermarke Sandpointe Mixed-Use Development (200 East Sandpointe Ave.) Department(s): Planning and Building Agency, Community Development Agency Recommended Action: 1. Adopt a resolution approving Density Bonus Agreement No. 2026-03; and RESOLUTION NO. 2026- XXX entitled A RESOLUTION OF THE CITY COUNCIL OF THE APPROVING DENSITY BONUS AGREEMENT NO. 2026-03 FOR A MIXED- USE DEVELOPMENT WITH 400 UNIT RESIDENTIAL UNITS, INCLUDING 20 UNITS PROPOSED AS AFFORDABLE TO EXTREMELY LOW- INCOME HOUSEHOLDS, AND 13,887 SQUARE FEET OF COMMERCIAL SPACE FOR THE PROPERTY LOCATED AT 200 EAST SANDPOINTE AVENUE (APNS: 411-111- 07, 411-111-09, 411-111-10, AND 411-111-11) 2. Authorize the City Manager to execute a Density Bonus Agreement with CM Sandpointe, LLC, GH Sandpointe LLC, VMT Sandpointe LLC, and QC Sandpointe LLC, with a 55- year covenant term, for a rental residential development consisting of a 400 unit multi-family residential development, including 20 affordable units (5% of the total units) proposed as affordable to extremely low-income households, at the property located at 200 East Sandpointe Avenue (Agreement No. A-2026- XXX); and 3. Determine that, pursuant to the California Environmental Quality Act (CEQA) and the CEQA Guidelines, the recommended action (below) is exempt from further review under Sections 15183 and 15162.