AgdaPkt 2000-05-08 - Laserfiche WebLink

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ßA.r).. HOUSING AND COMMUNITY DEVELOPMENT NEEDS Conditions As Silicon Valley sprawls from Santa Clara north up the peninsulå through San Mateo County, Redwood City has realized an increased number of commercial developments have created more jobs and brought more workers to the City. The supply and cost of housing has contributed to long commutes and high turnover in local business and industry. The current unemployment rate is 1.8%, however, approximately477% of the work force in Redwood City commute into the City from other areas. Among the many reasons for the amount of those who commute is the cost and availability of affordable housing. Housing Needs Redwood City created more housing sites in 1988-99 than required by the State Department of Housing & Community Development. Creating new sites for residential development is less of a challenge than developing units in accordance with the income distribution (very-low, low income) needed by low income residents of Redwood City. The Association of Bay Area Governments has projected that an additional 1,889 housing units are needed for all income levels. Of this total, 397 or 21 % are needed for very low income households, 197 or 10% for low income, 486 or 26% for moderate ¡pcome, and 809 or 43% are needed for above moderáte income. The 1990 Census Low Income Renters with Severe Housing Cost Burdens by Househol~ Type Redwood City, 1990 5% 35% 30% 25% 20% / 15% 10% 0% ! I . Cas t Burdened: 26% 34% 12% 28% . Source: Association of Bay Area Governments, Projections 2000, 1990 Censu$ Place of Work, Redwood City 5 Source: refer to Exhibit 2 for 1989-99 Housing Element Summary A-4