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Exhibit B Prepared by Greystar (applicant) <br />1409 EI Camino Real <br />Affordable Housing Plan <br />September 15, 2016 <br />This Affordable Housing Plan has been prepared for the 1409 EI Camino multi -family apartment project <br />by Greystar ("Applicant") in accordance with the Redwood City Affordable Housing Impact Fee <br />Ordinance No. 2417 ("AHIFO"). <br />The Applicant is required to meet the Affordable Housing Impact Fee Ordinance by paying a Housing <br />impact fee or, alternatively, by providing on-site affordable units that meet the low income level of San <br />Mateo County. The ordinance provides that twelve and a half percent (12.5%) of the project or forty- <br />four (44) homes, be provided on-site in order to fully mitigate the affordable housing impacts of the <br />project. <br />The Applicant is proposing to provide thirty-five (35) homes affordable to low income families on-site, <br />and to pay the balance of the affordable housing impact fee, which has been determined to be <br />$1,235,046 based on the residential and commercial square footage. <br />In order for the Applicant to provide on-site affordable units in lieu of the payment of the affordable <br />housing impact fee, the applicant for the first approval of this residential development project for which <br />on-site affordable homes are proposed shall include an "affordable housing plan" that describes how <br />the provision of on-site affordable homes will comply with the provisions of the AFHIFO. <br />Accordingly, This Affordable Housing Plan shall provide for the following as required by the AFHIFO: <br />A. All affordable units will be of comparable overall quality of construction to the market -rate <br />units. <br />1. The exterior appearance of the affordable units will be compatible with that of the <br />market rate units; <br />2. The interior finishes and amenities will not materially differ from those provided in the <br />base model market rate units; <br />3. The number of bedrooms in the affordable units are comparable to the average number <br />of bedrooms in the market rate units and are reasonably dispersed within the <br />residential development. <br />4. The affordable units will have the same amenities as the market rate rental units. <br />W�fMR?A 8.081/Greystar Affordable HousingaAb mAnt - 1409 EI Camino <br />