Laserfiche WebLink
<br />AFFIRMATIVE MARKETING PLAN <br /> <br />VILLA MONTGOMERY MULTIFAMILY HOUSING <br />SECTION 504 AND HOME SET ASIDE UNITS <br /> <br />Pursuant to Article IV, Section 4.01 (d) (e) and (f) of the Development and <br />Disposition Agreement between First Community Housing (Developer), the City <br />of Redwood City, and the Redwood City Redevelopment Agency executed on <br />March 31, 2'005, the Developer shall market the units to be constructed at Villa <br />Montgomery in accordance with the Marketing Plan to be developed jointly by <br />Agency staff and Developer. This Affirmative Marketing Plan for Villa <br />Montgomery is intended to meet the intent of the DDA and provide direction <br />specifically with regard to the units required under Section 504 and HOME <br />setaside units. <br /> <br />FINDINGS: Whereas the Association of Bay Area Government has indicated <br />that the City of Redwood City needs to provide approximately 534 very low <br />income units by the end of its existing Housing Element period (2007); and <br /> <br />Whereas the City has adopted a Consolidated Plan which sets Housing <br />Production as the highest priority use for federal funds during the five year term <br />of the plan as a means of achieving the ABAG Regional Housing goals; and <br /> <br />Whereas the Consolidated Plan identifies households in the City with the <br />greatest housing need and targets resources to give preference to target groups <br />with the greatest housing need (large family households, special needs <br />populations, households earning 50% and below median income at risk of being <br />homeless, seniors paying more than 50% of their income for housing, and <br />households living at or below the poverty level) the City Council has adopted the <br />following priorities for marketing units assisted with CDBG and HOME funding. <br />The owner will carry out the following priorities to the extent permitted by <br />applicable law: <br /> <br />1 . Preference for units assisted with Redwood City funds shall be <br />given first to people who live in the incorporated limits of the City of Redwood <br />City (and can demonstrate residency at least six months prior to move in). <br /> <br />2. Large families of 5 or more persons shall be given first preference <br />for 3 bedrooms or larger units produced as a result of federal funding. <br /> <br />3. Elderly persons who are extremely low income shall be given first <br />preference for studio and one bedroom units produced as a result of federal <br />funding. <br /> <br />1 <br /> <br />. """H__~ .~-" .._--"..u_._-~_.---- <br />