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Background : Affordable Housing Costs/Funding <br /> 1 Each new unit requires $250,000 of subsidy <br /> 2 Redevelopment was primary source of funding ($1 Billion) <br /> 3 Federal funds have also been reduced over the past 5 years <br /> 4 Authority to require affordable housing also reduced due to <br /> Redevelopment and "Palmer "case <br /> Redwood <br /> City- <br /> Affordable H ousng <br />