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REV: 08-22-24 VR <br />EPS will leverage our experience with Redwood City’s existing community benefit <br />processes to evaluate how, as currently structured and applied, they have and are <br />likely to impact development prospects in the Downtown. For example, analysis <br />will consider the type of community benefits that qualify under the existing process <br />(e.g., affordable housing, park, open space and other public facilities, historic <br />preservation), their relative weighting or “points”, and the degree each have been <br />delivered. EPS will describe how the business cycle affects the feasibility and <br />delivery of community benefit goals and options for addressing these temporal <br />dynamics. <br />EPS will then work with the City Attorney’s Office and other City staff to analyze <br />Redwood City’s community benefit process elements as well as other approaches <br />in the Bay Area and beyond to ensure compliance with laws and identify potential <br />modifications that might improve desired outcomes. The goal will be to inform <br />recommendations on how Redwood City’s existing process should be updated or <br />formalized in an adopted program to advance broader Plan goals while maintaining <br />development feasibility. <br />WRT will consider the potential for a transfer of development rights program to <br />help preserve, seismically retrofit, and/or restore historic resources, by transferring <br />historic properties’ future development potential to future development receiving <br />area(s) where developers could purchase and add to baseline development <br />potential. EPS will collaborate with WRT and P&T to examine how transfer of <br />development right (TDR) programs and policies might be integrated into the <br />Community Benefit framework to support historic preservation. This analysis will <br />be informed by case studies by EPS and P&T on the structure and effectiveness <br />of up to three California precedent programs (preferably in the Bay Area such as <br />those in Palo Alto and San Francisco), as a preservation and restoration tool and <br />prepare pros and cons of each. Additionally, P&T will identify potential candidate <br />sites that may qualify for potential TDR program eligibility, especially as it relates <br />to historic districts. <br />DELIVERABLE: draft section of Existing Conditions Report with assessment of <br />and recommendations for community benefits program elements, including an <br />examination of the potential for and parameters of a TDR program. <br />2. Financial Feasibility of Development and Capacity for Community Benefits <br />To inform the community benefits program analysis, EPS and WRT will consider <br />high-level concept-level development scenarios for up to three (3) representative <br />opportunity sites in key locations. For each site, WRT will generate one <br />programmatic/land-use scenario that describes the development potential of each <br />site based on recent development trends in simple spatial diagrams and <br />programmatic tabulations. EPS will use the programmatic tabulations that result <br />and consider how potential outcomes might be affected by the City’s Community <br />Benefit program. EPS and WRT will also qualitatively assess the implications of <br />ATTY/AGR.2024.139/Wallace Robers & Todd LLC (Downtown & Central RWC) (Page 35 of 60)