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6.4.B. - Page 4 <br /> ORDINANCE NO. <br /> AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br /> CITY ADDING A NEW ARTICLE XVII (AFFORDABLE HOUSING IMPACT <br /> FEE) TO CHAPTER 18 OF THE REDWOOD CITY MUNICIPAL CODE <br /> NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDWOOD <br /> CITY DOES ORDAIN AS FOLLOWS: <br /> Section 1. The City Council makes the following findings: <br /> A. The provision of safe and stable housing for households at all income levels <br /> is essential for the public welfare of the city. Housing in Redwood City has become <br /> steadily more expensive and housing costs have gone up faster than incomes. Federal <br /> and state government programs do not provide enough affordable housing to satisfy the <br /> needs of very low, low, or moderate income households. As a result, there is a severe <br /> shortage of adequate, affordable housing for extremely low, very low, lower, and <br /> moderate income households, as evidenced by the following findings in the City's 2015- <br /> 2023 Housing Element: <br /> 1. Almost half of Redwood City's households are lower income (see <br /> Housing Element Figure H-5). <br /> 2. Households of any size earning less than the median income cannot <br /> afford the average home purchase price or the average rents in Redwood City. <br /> 3. More than 90 percent of Redwood City renter households and two- <br /> thirds of owner households earning under $35,000 annually are overpaying for housing. <br /> Just over half the households earning between $35,000 and $75,000 per year are <br /> overpaying as well. In total, an estimated 22 percent of all households are paying <br /> between 30 and 49 percent of household income for housing. An additional 21 percent of <br /> households are paying more than 50 percent of household income for housing, yielding <br /> a total cost burden rate of 43 percent in Redwood City. <br /> B. As provided in the Housing Element of the General Plan, the City wishes to <br /> be a leader in providing resources to facilitate the development of housing, and especially <br /> affordable housing, within its borders. Housing Element Goal H-2 is to promote, <br /> encourage, and assist in the development of housing that meets the needs of all socio- <br /> economic segments of the community. Housing Element Policies H-2.4 and H-2.5 call for <br /> the City to facilitate a variety of housing choices in Redwood City and to consider various <br /> avenues to ensure the provision or construction of affordable housing and other <br /> community benefits. To implement the goal and policies, Housing Element Program H-3 <br /> requires the City to participate in a countywide nexus study to consider affordable housing <br /> impact fees and commercial linkage fees. As part of the Partnership RWC community <br /> benefits program, required by Housing Element Program H-14, the City will adopt fees to <br /> provide affordable housing. <br /> ATTY/ORD.418/AFFORDABLE HOUSING IMPACT FEE <br /> REV: 10-22-15 VR <br /> Page 1 of 11 <br />