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Annual and Five-Year Development Impact Fee Report <br />Fiscal Year Ending June 30, 2024 <br />City of Redwood City 11 <br />Affordable Housing Impact Fees <br />The fees in effect during the fiscal year ending June 30, 2024, are presented below in Table 3. <br />Table 3 FY 2023-24 Affordable Housing Impact Fees <br />Ite m <br />Afforda ble Housing <br />Impa ct Fe e pe r Sq.Ft. <br />Re side nti a l Use s <br />Single Family $25.00 <br />Townhome/Duplex/Triplex $25.00 <br />Condos and Apartments $20.00 <br />Non-Re side ntia l Use s <br />Offic e $23.62 <br />Medic al Offic e $23.62 <br />Res earch and Development $23.62 <br />Hotel $5.91 <br />Retail $5.91 <br />Res taurant $5.91 <br />Servic es $5.91 <br />In-Lieu Fees <br />Downtown Parking In-Lieu Fee <br />The City may accept payment of a Parking In-Lieu Fee of required onsite parking if certain <br />findings can be made. The in-lieu fee in effect during the fiscal year ending June 30, 2024, is <br />$25,000 per two spaces not provided on-site. <br />Affordable Housing In-Lieu Fee <br />The City may accept payment of Affordable Housing In-Lieu fees for fractional units. The in-lieu <br />fees are not to exceed the fractional cost of providing an affordable unit. The affordable housing <br />in-lieu fee in effect during the fiscal year ending June 30, 2024, is the same amount as the <br />Affordable Housing Impact Fee rates. <br />Art-In-Lieu Fee <br />The City may accept payment of a fee in-lieu of providing publicly accessible onsite art that is <br />equal in value to at least one (1) percent of the project’s construction valuation for commercial <br />developments that have a gross floor area of 50,000 square feet or more. The Art In-Lieu fee is <br />required to match or exceed this amount in the fiscal year ending June 30, 2024. <br />6.A. - Page 20 of 55 <br />25