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7.A. - Page 24 C. Affordable Housinq Impact Fee Fee Findings Requirements I. Identify the purpose to which the fee is to be put. The purpose of the Affordable Housing Impact Fee is to (1) enhance the public welfare by imposing a residential and nonresidential development project housing impact fee whereby developers of residential and nonresidential development projects will mitigate the impacts of their projects on the need for affordable housing by contributing to the supply of housing for households with very low, low, and moderate incomes; and (2) implement the Housing Element by creating a mechanism to provide benefits to the community from new development in the form of affordable housing, thereby helping to meet the needs of all socioeconomic elements of the community as provided in the Housing Element. 2. Demonstrate a reasonable relationship between the fee and the purpose for which it is charged. On October 24, 2014 the City Council adopted its 2015-2023 Housing Element which contemplates, among other things, an ordinance to provide a mechanism to increase the supply of affordable housing in the City pursuant to Housing Element Programs H- 3 and H- 14. To implement the affordable housing goals, policies and programs of the Housing Element, the City Council considered and introduced an affordable housing ordinance that, among other things, authorizes the imposition of housing impact fees for certain residential and nonresidential development projects to mitigate the impact of such projects on the need for affordable housing in the City. To ensure that future development projects mitigate their impact on the need for affordable housing in Redwood City, and to ensure that any adopted housing impact fees do not exceed the actual affordable housing impacts attributable to the development projects to which the fees relate, the City agreed to participate in the preparation of a nexus study through the countywide 21 Elements collaboration project. The City received and considered reports from Strategic Economics and Vernazza Wolfe Associates, Inc. dated September 2015 entitled "Residential Impact Fee Nexus Study" and "Commercial Linkage Fee Nexus Study" (together, the " Nexus Study"). The Nexus Study uses widely used, appropriate methodology to determine the maximum amount needed to fully mitigate the burdens created by residential and nonresidential development on the need for affordable housing. To ensure that development projects remain economically feasible, the recommended housing impact fees are lower than the maximum amount needed to fully mitigate the burdens created by new development on the need for affordable housing as determined by the Nexus Study. This reasonable relationship remains between the current need for the Fee and the purpose for which it was originally collected because the City is actively implementing its