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City Council Presentation <br />March 13, 2017 <br />Bay Road Block <br />Request of City Council <br />•In order to provide the most impactful affordable housing plan, MidPen and TSO request City Council to initiate a <br />General Plan Amendment for the Bay Road Block <br />An option to fulfill the obligation under Affordable Housing Ordinance as related to Broadway Block <br />Alternative to payment of impact fees <br />Based on Planning Staff’s calculation, the number of affordable units required for the Broadway Block would be <br />82 vs 120 that can be developed on the Bay Road Block <br />•TSO owns a site near to Broadway Plaza at 1155 Broadway and 2201 Bay Road, a portion of which is proposed to be <br />developed by MidPen as affordable housing should this option be selected over the payment of impact fees <br />•The proposed plan is a 100% affordable housing development targeting households in the Very Low and Low <br />income levels (all under 60% of Area Median Income )