AgdaPkt 2008-08-11 Clsd and Reg - Laserfiche WebLink

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8A Page 1 REPORT August 11, 2008 SUBJECT Affordable Unit Covenant Deed Restriction for Canada College Housing Project ReCOMMENDATION By motion, approve the Affordable Unit Covenant Deed Restriction for 15% (nine units) of the aD-unit Canada College Faculty and Staff Housing Project BACKGROUND On April 28, 2008, the City Council adopted a Resolution approving a revised Regional Housing Need Allocation (RHNA) for Redwood City consistent with State Housing Element law that acknowledged the cooperation of Redwood City and the Town of Woodside with respect to a boundary change (site annexation into Redwood City) that will allow the development of 60 units of affordable housing on the Canada College campus.1 Prior to the boundary change, Redwood City's 2007-2014 RHNA was 1,832 units (418 very low (23%), 300 low (16%), 354 moderate (19%) and 760 above moderate (42%)) and Woodside's RHNA was 65 units. As members of the San Mateo Countywide sub- region for the RHNA process, Redwood City and the Town of Woodside were allowed to reallocate housing units assigned to them provided that the action did not affect the overall final allocation for the subregion (that includes 15,738 units for all cities within San Mateo County) or any other member jurisdictions overall number of housing units/sites within the subregion. In exchange for allowing the annexation of the Canada College site into Redwood City, the Redwood City Council and Town Council of Woodside agreed to effectively share/split a portion of the Canada College housing units to meet a portion of each jurisdiction's RHNA. The Redwood City Council and Town Council of Woodside adopted separate resolutions effectively acknowledging a "split" of the 60-unit Canada College housing project that increased Redwood City's RHNA housing unit allocation by 24 units (from 1,832 to 1,856 units) concomitant with a decrease in the Town of Woodside's RHNA housing unit allocation by 24 units (from 65 to 41 units). For Redwood City, the outcome of this RHNA trade agreement is a net benefit of (60 -24=) 36 units towards the City's RHNA obligation and production of a total of 60 additional affordable housing units. 1 The Town of Woodside Zoning Ordinance does not permit multi-family residential development. Redwood City's Zoning Ordinance does allow multi~family residential development. The site's annexation from Woodside into Redwood City was therefore necessary in order to build the Canada College faculty/staff housing units.