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AgdaPkt 2021.03.22 Joint SA PFA
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AgdaPkt 2021.03.22 Joint SA PFA
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Last modified
4/7/2021 12:21:02 PM
Creation date
3/18/2021 4:58:35 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
3/22/2021
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3/18/2021 5:02 PM
Modified:
3/18/2021 5:02 PM
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6.A. - Page 3 of 18 <br />Figure 2 — Anticipated Units that have not yet Received Building Permits <br />Income <br />RHNA <br />Total <br />Entitled <br />Remaining <br />Notes <br />Level <br />Allocation <br />Units to <br />Units not <br />RHNA when <br />Date in <br />yet issued <br />Entitled Units <br />2020 <br />building <br />receive <br />permits <br />permits <br />Very Low <br />706 <br />287 <br />63 <br />356 <br />39 for South Main and 24 for Broadway <br />Plaza <br />Low <br />429 <br />301 <br />162 <br />- <br />67 for South Main and 95 for Broadway <br />Plaza <br />Moderate <br />502 <br />- <br />41 <br />461 <br />41 for South Main <br />Above <br />1,152 <br />2,357 <br />540 <br />- <br />1 for South Main + 131 for 1548 Maple + <br />Mod <br />7 for 31 Center + 401 for Broadway Plaza <br />TOTAL <br />2,789 <br />2,945 <br />806 <br />817 <br />Update of 2015 Numbers - The 2015 numbers have been updated to reflect 37 newly deed -restricted units <br />in the Cardinal Apartments (1 Franklin Street). The project was initially approved and constructed as 100 <br />percent market -rate, but since then Stanford University has acquired the property and deed -restricted <br />five units to very low income and 32 units to low income households. <br />Rehabilitated Units -The report also notes units that have been rehabilitated. In 2019, the City contributed <br />CDBG/HOME funds to rehabilitate 36 existing affordable units at the Redwood Oaks Project (330 Redwood <br />Ave). This project was completed in 2020. The Hallmark House Apartments, 72 affordable units at 531 <br />Woodside Road, caught fire in 2013 and the project started reconstruction in 2020 after facing several <br />setbacks. The City contributed HOME funding to this project when it was initially acquired and helped <br />facilitate the rebuild process. The reconstruction is expected to be complete in Spring 2021. <br />FISCAL IMPACT <br />There is no fiscal impact to the General Fund. However, in order for the City to be eligible for State <br />Permanent Local Housing Allocation funds, the City must submit the APR by the April 1, 2021 deadline. <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA <br />Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably <br />foreseeable indirect physical change in the environment. <br />Page 3 of 4 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />
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