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<br />6.20 <br />Page 2 <br /> <br />Applicability to Housing Element Goals <br />Assisting this project to convert from market rate rents to affordable rents helped <br />expand the supply of affordable housing units in the City of Redwood City. ABAG's <br />Regional Fair Share Housing Need Allocation for the period of 1999 to 2007 required <br />the City to produce 970 housing units affordable to low and very low income households <br />during the time this project was reviewed by Council. City funding in this project <br />increased the number of units that will be affordable to very low income seniors, <br />individuals, and small family households. The City counted 22 Very Low and 50 Low <br />Income Units toward its Housing Element and Consolidated Plan Goals. These units <br />were reported to State Housing & Community Development (HCD) and U.S. <br />Department of Housing & Urban Development (HUD) annually to meet Housing <br />Element and Consolidated Plan reporting requirements respectively. The <br />Redevelopment Agency counted assistance to 11 Very Low and 25 Low Income Units <br />(1 unit credit for every 2 units assisted outside the Redevelopment Plan Area). These <br />units were also reported to State HCD as required by the Health and Safety Code <br />annually for redevelopment agencies. <br /> <br />ALTERNATIVES <br />Do not approve the Certificate of Completion. <br /> <br />FISCAL IMPACT <br />The Board's approval of the Certificate of Completion will have no fiscal impact. <br /> <br /> <br /> <br />Peter Ingram '; <br />,.'e <br />Executive Direct r <br />Redevelopment Agency <br /> <br /> <br />Peter Ingram <br />Interim City Manag r <br /> <br /> <br />A IT ACHMENTS <br />1. Notice of Completion Recording # 2005-173731 <br />2. Notice of Completion Recording # 2005-173732 <br />3. Certificate of Completion <br /> <br />RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br />Owner Participation Agreement <br />