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The Affordable Housing Agreement has been prepared by the City Attorney and agreed <br />to by the Developer. The Affordable Housing Agreement describes the details of this <br />project relating to the number and type of affordable units. The purpose of the proposed <br />Agreement is to ensure that the City can count the units towards its regional housing <br />need allocation (RHNA) obligation and to ensure that these seven units remain <br />affordable to very low income households for the term of the agreement. <br />ALTERNATIVES <br />City Council could decide to withhold approval of the agreement or modify the terms of <br />the agreement. <br /> <br />FISCAL IMPACT <br />Redwood City is not responsible for funding construction of the affordable units. City <br />housing staff, however, will need to monitor compliance of this Affordable Housing <br />Agreement to ensuring the units remain affordable for the term specified in the <br />agreement. <br /> <br />ENVIRONMENTAL REVIEW <br />This is not a project under CEQA as defined in CEQA guidelines, section 15378, as it <br />involves an administrative activity. <br /> <br /> <br />RHONDA COFFMAN, CDBG/HOME ADMINISTRATOR <br /> <br /> <br />AARON AKNIN, ASSISTANT CITY MANAGER/COMMUNITY DEVELOPMENT DIRECTOR <br /> <br />MELISSA STEVENSON DIAZ <br />CITY MANAGER <br /> <br />ATTACHMENT <br />· HOUSING AGREEMENT <br />6.1.A. - Page 2