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<br />EXHIBIT "B" <br /> <br />SCOPE OF DEVELOPMENT <br /> <br />1. <br /> <br />General Scope of Development <br /> <br />The Property shall be developed as a multi-unit <br />affordable complex, with fifty-eight (58) rental apartment units, <br />including one (1) manager's unit and other amenities, which will <br />include, without limitation: <br /> <br />1,200 square feet of ground floor retail space, <br />approximately Three Thousand (3,000) square feet of common area <br />space, including a community room and computer lab for residents, <br />an outdoor playground facility for residents, and 112 dedicated <br />residential and retail parking spaces. The complex will consist of <br />four stories of residential units above one level of podium parking <br />and one level of subterranean parking. The site area is <br />approximately 27,300 square feet. <br /> <br />Structures on the Property shall generally be located as <br />shown on the Site Map in Exhibit "A." The Property will be <br />developed in accordance with this Agreement, but subject to the <br />requirements of the zoning ordinances of the City and any variances <br />or modifications therefrom as approved by the City. <br /> <br />2. <br /> <br />Maximum Per HOME Unit Subsidy <br /> <br />Unit Type <br /> <br />Maximum per <br />SUBSIDY <br /> <br />HOME UNIT <br /> <br />Studio <br />I-bedroom <br />2-bedroom <br />3-bedroom <br />4-bedroom <br /> <br />$ 94,435.00 <br />$108,884.00 <br />$131,317.00 <br />$168,086.00 <br />$187,253.00 <br /> <br />3. <br /> <br />Preference to Local Contractors <br /> <br />The Developer shall put forth a best-faith effort to <br />provide an opportunity for San Mateo County contractors, i. e. <br />vendors, suppliers, and labor, particularly Redwood City <br />contractors, to bid on the portions of the construction of the <br />Project not already assigned to the Design Build Team, herein <br />designated as Branagh, Inc. <br /> <br />B-1 <br /> <br />REDW\0006\DOC\001-7 <br />3/29/05 3:15 /rove <br />