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City of Redwood City <br />22-PIP-17871 <br />Page 1 of 4 <br />EXHIBIT E <br /> <br />Prohousing Incentive Pilot (PIP) Program <br />NOFA Date: 12/15/2022 <br />Approved Date: 06/12/2023 <br />Preparation Date: 08/24/2023 <br />PROGRAM-SPECIFIC PROVISIONS AND SPECIAL CONDITIONS <br /> <br />1. Program-specific Provisions <br />The following are project-specific terms and conditions and shall inform the <br />references made to project-specific information not contained in the Standard <br />Agreement. <br />2. Budget Detail: <br />Grantee has been awarded the following grant activity amounts: $,890,000.00 <br />Estimated allocation may not exceed: $890,000.00 <br />Payees: City of Redwood City <br />The authorized Payee(s) is/are specified below: <br />Name: City of Redwood City Amount: $890,000.00 <br />3. Consistency with Housing Element Programs: <br />Provide a description of how the Plan is consistent with the programs set forth in <br />the Local government’s Housing Element. <br /> <br />The 2023-2031 Redwood City Housing Element includes program H2-8: <br />Preservation, Acquisition and Rehabilitation of Existing Housing. Under this <br />program, the City will assist nonprofit organizations and affordable housing <br />developers in the acquisition of multi-family housing for lower-income families, <br />individuals, veterans, seniors, and other special needs populations. An objective <br />of this program is to implement the preservation recommendations from the <br />adopted Anti-Displacement Strategy, which includes establishing an over-the- <br />counter housing preservation Program by December 2023.