Res07 14829 - Laserfiche WebLink

Browse Search

Atty/Reso/Reso.1772 121707 12/17/2007 (ii) Providino Affordable Housino. The Project would provide, assuming the full 796 units are built, up to 40 new on-site affordable units affordable to moderate to above-moderate households. The Project also establishes the goal of realizing an additional 10%, or up to 80 off-site units, with the developer's financial contribution of up to $8 Million in subsidy funding. The off-site units, if offered for purchase will be affordable to households of "Moderate-Income" or "Above Moderate- Income," or if offered for rent at Affordable Rents to eligible households of "Very Low-Income" and "Low -Income." New affordable housing will not only alleviate human costs of the housing shortage, but will help foster economic development, which is handicapped by the lack of local housing for employees. (iii) Economic Impacts to the City of Redwood City. The Project will provide significant market support to downtown businesses and will enhance the City's ongoing revitalization efforts. The Project may include a first-quality 200-room hotel, providing a feature which does not exist in this area of the City and which is important to economic development; the revenues generated by the hotel operations support the City's fiscal health. The Project will result in additional new employees in its commercial retail and restaurant space, and it is possible that some of those new employees will be residents of Redwood City. (iv) Increase in Number of Jobs. The economic development goals and policies of the Redwood City General Plan include creating more job opportunities. The Project would promote these goals and policies by providing space for more jobs, as well as many construction-related jobs over a period of years. (v) Open Space, Waterfront Access, Recreation and Park Opportunities. The Project would make accessible to the general public, as well as residents, workers in the Project area and business customers, extensive waterfront esplanades and other attractive waterfront access and recreation and park opportunities, in an area where public waterfront access is currently limited and largely impractical. The Project would also promote access to and enjoyment of the San Francisco Bay waterfront by providing community-serving amenities such as restaurants, shops and community facilities, and by carefully designed integrated walkways, internal waterways and other open space and overlooks. (vi) New Hioh-Quality Neiohborhood Livino Environment. The Project will provide an appealing and livable residential environment-a high- density urban village with ground level activity, pedestrian amenities, innovative design and high-quality architecture. Building location and massing, spatial relationships among buildings and open space and architectural detailing will be designed to provide attractive opportunities for pedestrians and bicyclists and inviting spaces for recreation and gathering and to maximize light, openness and views for residents and visitors. Because of its infill location and proximity to two existing residential developments, Peninsula Park will help complete an emerging 4 14829 Muff# 613