AgdaPkt 2019-02-11 Joint SA PFA - Laserfiche WebLink

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Attachment 1 6.E. - Page 10 of 16 7.A. - Page 4 With the help of Home for All and other community partners including the Redwood City Library Foundation, Redwood City 2020, and Casa Circulo Cultural, the City conducted a wide range of community outreach and engagement activities including several community meetings, multiple "pop up" events and a survey with a focus on the Redwood City community and housing. These efforts directly engaged over 800 community members over the course of a few months and a broad range of community input was received. The meetings provided an opportunity for a diverse mix of residents including property owners, developers, nonprofits, community leaders and other members of the community to talk with each other at discussion tables and share perspectives. Redwood City's grant assistance included a wide range of technical support, coaching and facilitation assistance provided by Home for All and consultant Common Knowledge Plus. A detailed summary of outcome of the meetings, conversations, pop ups and survey are included in Attachment 2 to this report, titled "Our Community: Housing and Our Future - Project Overview and Summary of Community Input". Affordable Housing Fund Housing Impact Fees are due at the time of building permit issuance, which can occur several months after the approval of a development application. Since the adoption of the Ordinance in 2015, the City has received approximately $763,000 from two projects. There are approximately 11 projects currently approved that are pending issuance of building permits that have a combined estimated total of $7.2 million in fees. Some of these approved projects are providing affordable units as an alternative to the fee, for an estimated total of 188 new affordable units. Several other development applications currently proposed could yield additional fees and affordable units if they are approved. In 2017, the City received funding requests from two nonprofit, affordable housing mission -driven organizations. The City Council approved both funding requests and provided Affordable Housing Funds to both organizations to preserve existing affordable housing. The funds provided for these two projects were consistent with the City Council Finance and Audit Sub -Committee's 2016 recommendations to identify existing apartment buildings for preservation. The City has disbursed approximately $2.2 million from the Affordable Housing Fund to the two affordable housing projects, one time investment opportunities to help preserve 62 affordable units and prevent the displacement of 62 extremely low, very low and low income households. Since the City did not receive a sufficient amount of fees before these two projects required funding, the City Council agreed to make short-term loans from the General Fund to the Affordable Housing Fund in order to assist them. As a result, the Affordable Housing Fund has a current deficit balance of approximately $1.4 119