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6.D. - Page 2 of 108 <br />BACKGROUND <br />The project is a 7 -story 100% affordable multi -family residential project consisting of 125 for -rent units <br />located at 353 Main Street. All 125 units are below market rate units. The building includes two levels of <br />above grade parking and the building would contain a mix of studios, one -bedroom, and two bedroom <br />units. The improvements associated with this project includes new sanitary sewer, domestic water, and <br />stormwater connections to the City system, relocation of an existing sanitary sewer main, new fire <br />hydrant, sidewalk modifications, street trees, and pedestrian lighting. <br />ANALYSIS <br />The developer's engineer completed the easement documents, improvement plans, and specifications <br />compliant with the Subdivision Map Act, Redwood City Ordinances, City Standards, and to City Engineer <br />requirements. Due to the relocation of the existing sanitary sewer main, the existing public utility <br />easement will need to be vacated and a new public utility easement created to accommodate the change <br />in alignment. <br />The developer will post bonds in the amount of $201,661 as required by the Improvement Agreement. All <br />work associated with the project is being paid for by the developer. The developer anticipates completion <br />of all improvements by Fall 2021. <br />FISCAL IMPACT <br />There is no fiscal impact to the City as a result of this action. The estimated cost of the offsite <br />improvements to be completed by the developer is $201,661.00. <br />ENVIRONMENTAL REVIEW <br />On May 21, 2018, the Redwood City Council determined that this project is exempt from the California <br />Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Section 15332 (Class 32 — "Infill <br />Development Projects"). <br />Page 2 of 3 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />140 <br />