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<br /> <br />:"" t1A <br />Pagel, r" 3 <br />" I <br />. i I <br /> <br />. Continue to provide homeownership assistance to i lower- <br />income households annually for a total of ~,b household~ during <br />the 2009-2014 planning period.' Fe <br />. Advertise the First-Time Homebuyer Program through <br />brochures available at City Hall and information on the City's <br />website. <br />. Continue to renew a Cooperative Agreement with San Mateo <br />County to administer Mortgage Credit Certificates for low- and <br />moderate-income Redwood City residents, and provide <br />information to interested residents at City Hall and on the City's <br />website. <br /> <br />Funding SOurces: <br /> <br />Ongoing <br />Community Development Services Department- <br />Planning and Housing Divisions; Redwood City <br />Redevelopment Agency <br />CDBG; HOME; Redevelopment Set-Aside <br /> <br />Timeframe: <br />Responsible Agency: <br /> <br />Action 8..7: I1Jclusjollary Housing Ordinance <br />Redwood City has actively encouraged developers of new housing <br />within the City to provide affordable units whenever possible. The City <br />is currently exploring options for an inclusionary housing ordinance to <br />codify requirements of new developments to provide a portion of units <br />as affordable to targeted income groups. To address affordable housing <br />needs, numerous communities have adopted inclusionary housing <br />ordinances that require an established percentage of units within <br />market-rate developments to be price-restricted as affordable to <br />targeted income groups. <br /> <br />The City will evaluate the adoption of an indusionary housing ordinance <br />to require up to 15 percent of units within new market-rate <br />developments to be price-restricted as units for lower- and moderate- <br />income households. Developers may also have the option of providing <br />the affordable units off- site or payment of an in-lieu housing fee. <br /> <br />Objective: <br />. Draft an indusionary housing ordinance for review by the City <br />Council. Incorporate input received from the Housing and <br />Human Concerns Committee, the development community, and <br />the general public. <br /> <br />Funding Sources: <br /> <br />Draft ordinance by 2010 <br />Community Development Services Department- <br />Planning Division; Redwood City <br />Redevelopment Agencv <br />Departmental Budget <br /> <br />TImeframe: <br />Responsible Agency: <br /> <br />_"'~tI~ <br /> <br /> <br />P a g {; <br /> <br />- <br />