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Annual and Five-Year Development Impact Fee Report Fiscal Year Ending June 30, 2024 City of Redwood City 6 between five (5) to nineteen (19) units. The fee is used to mitigate the impact of development projects on the need for affordable housing in the City, by fully funding or subsidizing the construction, rehabilitation and/or preservation of housing that is affordable to extremely, very low, low, and moderate incomes, consistent with the goals and policies contained in the City’s Housing Element. The fee may also be used to fund the preparation of related technical studies. Description of In-Lieu Fee Programs The City has three in-lieu fee programs, including Downtown Parking, Affordable Housing, and Art in Public Places. These in-lieu fees provide developers with an option to satisfy on-site requirements with a one-time payment. 1. Downtown Parking In-Lieu.7 The Downtown Parking In-Lieu Fee allows new developments located within the Downtown Parking Zone, subject to the eligibility requirements of the program, to provide a fee payment in lieu of providing parking spaces onsite. The fee is used to expand the capacity of parking spaces for public use within the Downtown Parking Zone and may also be used to manage demand for parking through the creation of a Transportation Demand Management program. 2. Affordable Housing In-Lieu.8 The City accepts payment of an Affordable Housing In- Lieu Fee for fractional units resulting from the calculation of inclusionary requirements. The City may also accept payments for an Affordable Housing In-Lieu Fee in place of construction of on-site units if certain findings can be made pursuant to Section 29.8.B. of the City’s zoning code. The fee is established by resolution of the City Council and updated from time to time. Affordable housing in-lieu fees shall not exceed the fractional cost of providing an affordable unit. The in-lieu fee and the Affordable Housing Impact Fee are currently set at the same rate because the impact fee represents the proportionate costs of providing an affordable unit. Similar to the Affordable Housing Impact Fee, the fee is used to fully fund or subsidize the construction of housing that is affordable to extremely low, very low, low, moderate incomes, consistent with the goals and policies contained in the City’s Housing Element and may also be used to fund the preparation of related technical studies. 3. Art in Public Places.9 The Art-in-Public Places In-Lieu Fee allows new commercial developments exceeding 50,000 square feet to make a payment instead of providing an on-site art installation. The purpose of the Fee is to support art in public places by maintaining, refurbishing, preserving, or providing public art. 7 https://library.municode.com/ca/redwood_city/codes/zoning_code?nodeId=ART30OREPALO_30.3EUPAFE 8 https://library.municode.com/ca/redwood_city/codes/zoning_code?nodeId=ART29REAFHO_29.4REINAFHO 9 Section D of https://library.municode.com/ca/redwood_city/codes/city_code?nodeId=CH45PUAR_S45.090PRPUVIARCEPRDE 6.A. - Page 15 of 55 20