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12/07/2015 ORIGINAL ORDINANCE NO. 2417 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY ADDING A NEW ARTICLE XVII (AFFORDABLE HOUSING IMPACT FEE) TO CHAPTER 18 OF THE REDWOOD CITY MUNICIPAL CODE NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF REDWOOD CITY DOES ORDAIN AS FOLLOWS: Section 1. The City Council makes the following findings: A. The provision of safe and stable housing for households at all income levels is essential for the public welfare of the city. Housing in Redwood City has become steadily more expensive and housing costs have gone up faster than incomes. Federal and state government programs do not provide enough affordable housing to satisfy the needs of very low, low, or moderate income households. As a result, there is a severe shortage of adequate, affordable housing for extremely low, very low, lower, and moderate income households, as evidenced by the following findings in the City's 2015- 2023 Housing Element: 1. Almost half of Redwood City's households are lower income (see Housing Element Figure H-5). 2. Households of any size earning less than the median income cannot afford the average home purchase price or the average rents in Redwood City. 3. More than 90 percent of Redwood City renter households and two- thirds of owner households earning under $35,000 annually are overpaying for housing. Just over half the households earning between $35,000 and $75,000 per year are overpaying as well. In total, an estimated 22 percent of all households are paying between 30 and 49 percent of household income for housing. An additional 21 percent of households are paying more than 50 percent of household income for housing, yielding a total cost burden rate of 43 percent in Redwood City. B. As provided in the Housing Element of the General Plan, the City wishes to be a leader in providing resources to facilitate the development of housing, and especially affordable housing, within its borders. Housing Element Goal H-2 is to promote, encourage, and assist in the development of housing that meets the needs of all socio- economic segments of the community. Housing Element Policies H-2.4 and H-2.5 call for the City to facilitate a variety of housing choices in Redwood City and to consider various avenues to ensure the provision or construction of affordable housing and other community benefits. To implement the goal and policies, Housing Element Program H-3 requires the City to participate in a countywide nexus study to consider affordable housing impact fees and commercial linkage fees. As part of the Partnership RWC community ATTY/ORD.418/AFFORDABLE HOUSING IMPACT FEE ORD.#2417 REV:10-22-15 VR FORMERLY MUFF#100 Page 1 of 11