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<br />( <br /> <br />In ~980 Redwood City's mean household income was $26,436 compaced to the <br />County ~ide mean of $31,184. However ABAC's projections indicate that <br />from 1980-200~ Redwood City incomes will increase by 42\ compared to a <br />county increase of only 31\. <br /> <br />ReQiona1 HousinQ Needs <br />The estimate of housing units need in Redwood City in 1985 and 1990 <br />is required by state law to inc1ud~ the City of Redwood City's allocation <br />of regilnal housing need. This regional projection is contained in <br />A8AG's -Housing Needs Determinations-San Francisco Bay Region-, December <br />1983. This report developed the following estimates of housing need in <br />Redwood City: <br /> <br />Exhibit XIV <br />Housinq Needs - Fedwood City 1980-90 <br /> <br />UNITS <br /> <br />Existing need 1980 <br />Projected Need: <br />1980-1990 <br />Very low incoIT;E <br />Loloo' ir,come <br />M:)derate <br />Above moderate <br /> <br />438 <br /> <br />3,594 <br />755 (21\.) <br />611 (17\) <br />755 (21\) <br />1,473 (41\) <br /> <br />The eXlsting need figure indicates the approxi~ate nUffiber of units needed <br />to create a 1980 vacancy rate of 4\. The projected need is the number of <br />units needed to fill the eXlsting need, plus providing enough units to <br />accom~~date the projected hO~5ehold growth in the Clty, Ioo'ith a sufficient <br />vacancy rate to maintain motility in the housing ~arket. <br /> <br />Sectio~ 65584 of the Covernment Code defines each localities share of the <br />regional housing need as: <br /> <br />.. .That share of the housing of persons at all <br />income levels within the area significantly affected <br />by the jurisdiction's general plan. <br /> <br />Applied to the Bay Area, a -very low incomeh household is one with an <br />income of up to SO\ of the median income. A -lo~ income- household has <br />one with an income of 51-80\ of the ~edian regional income. A -aoderate <br />income- household is one with an income of 81-120\ of the ~edian regional <br />income. A household with an income greater than 120\ of the regional <br />.edian income is considered to be above .oderate. <br /> <br />. <br /> <br />10 <br /> <br />EX B IILI'-3 <br />