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EXHIBIT B <br /> TO <br /> AFFORDABLE HOUSING AGREEMENT <br /> 849 VETERANS <br /> FINAL <br /> AFFORDABLE HOUSING PLAN <br /> February 17 , 2016 <br /> Revised <br /> August 8 , 2016 <br /> This Affordable Housing Plan has been prepared for the 849 Veterans Multi-Family Apartment <br /> Project by 849 Veterans RWC, LLC (Applicant) in accordance with the Redwood City Affordable <br /> Housing Impact Fee Ordinance No. 2417 ("AHIFO") . <br /> The Applicant is required to meet the Affordable Housing Impact Fee Ordinance by paying a <br /> Housing Impact Fee or alternatively, by providing on-site affordable residential units that meet <br /> the very-low income level for San Mateo County. The Ordinance provides that ten percent <br /> (10%) of the Project, or nine (9) residential units, be provided on-site in order to fully mitigate <br /> the affordable housing impacts of the Project. <br /> The Applicant is proposing to provide seven (7) residential units affordable to very-low income <br /> families on-site, and pay the balance of the Affordable Housing Impact Fee which has been <br /> determined as $361 , 057.58. The Applicant waives its option to mitigate all of its affordable <br /> housing impacts through the provision of all nine (9) affordable residential units on-site and pay <br /> no Affordable Housing Impact Fee. <br /> In order for the applicant to provide on-site affordable residential units in lieu of the payment of <br /> the Affordable Housing Impact Fee, the application for the first approval of this residential <br /> development project for which on-site affordable residential units are proposed shall include an <br /> "affordable housing plan" that describes how the provision of on-site affordable residential <br /> units will comply with the provisions of the AFHIFO. <br /> Accordingly , this Affordable Housing Plan shall provide for the following , as required <br /> by the AFHIFO : <br /> 1 ) All affordable residential units provided on-site shall be comparable to the overall <br /> quality of construction of the market-rate residential units in the same housing <br /> development as follows: <br /> ATTY/AGR/2016.243/849 VETERANS AFFORDABLE HOUSING AGREEMENT — EXHIBIT B <br /> REV: 08-30-16 VR Page 3. of 14 <br /> Final_8/02/2016 <br />