AgdaPkt 2020-10-12 Joint SA PFA - Laserfiche WebLink

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From: Sears, Henry To: Nevada Merriman; GRP -City Council Cc: Jan M. Lindenthal; Matt Franklin; CD -Mark Muenzer Subject: RE: Request to advance the Chase Bank site and affordable housing Date: Monday, October 12, 2020 5:47:17 PM City Council Members, As we approach tonight's hearing, Tishman Speyer and MidPen Housing want to reiterate our commitment to both community benefits and to be flexible and collaborative in working with Redwood City staff. We are proud to put forward a proposal that would provide 80 affordable homes at 609 Price Ave. This represents the most homes at the deepest levels of affordability of any Gatekeeper proposal. Many of these units would be family sized 2 and 3 bedroom units that would be truly affordable to local families. 609 Price Ave is a precious opportunity that we need to commit to in the near-term. With the limited staff resources in mind, the 609 Price project could move forward as a part of the Central Redwood City Plan if the 2300 Broadway project can move forward with a General Plan amendment. This would allow us to move forward with purchase of 609 Price. It also allows for the possibility that the site could be entitled in a streamlined fashion under State housing legislation currently under consideration. With staff workload in mind, the 609 Price project is also willing to contribute additional funds to help jumpstart the Central Redwood City visioning process, and offset the costly project management and environmental studies associated with long-range planning work. In addition, we are proud to offer to build out and operate 15,000+ square feet of new green space as part of the Hamilton Green directly adjacent to the Courthouse Square, as well as the 5,000+ square foot Redwood Grove. This would create a unique opportunity for community - led placemaking that will benefit generations of Redwood City residents who spend time downtown. Not only will this be at no ongoing cost to the City, but it will save the City and Redwood City non -profits the cost of shutting down Hamilton for public events. We also offer to provide much high-quality public restrooms during public events held at the Courthouse Square. Thank you for your consideration. MidPen and Tishman Speyer remain committed to working as a true partner to the Redwood City community. Sincerely, Henry Sears Henry Sears SPEYER Office: +1 415-344-6268