“Affordable housing agreement” means a written agreement between a builder and the City as provided by Larkspur Municipal Code Section 18.25.040(G).

“Below market rate (BMR)” means that the affordability level of an inclusionary unit is below the cost of what a current market rate unit would be and is affordable to extremely low-, very low-, low-, or moderate-income households.

“Commercial development project” shall mean development projects which result in the subdivision of land and/or the construction or conversion of structures for the purpose of conducting business, including but not limited to hotels, retail sales, restaurants, offices, gas stations, research and development uses and manufacturing.

“Commercial linkage fee” means the fee paid by applicant of commercial development projects to mitigate the impacts that such developments have on the demand for affordable housing in the City.

“First approval” means the first discretionary approval to occur with respect to a commercial development project or, for commercial projects not requiring a discretionary approval, the issuance of a building permit.

“Planning permit” means any discretionary approval of a residential or mixed use project, including but not limited to a comprehensive or specific plan adoption or amendment, rezoning, tentative map, parcel map, conditional use permit, variances, or architectural review. (Ord. 1065 § 5 (Exh. A), 2023)