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Annual and Five-Year Development Impact Fee Report <br />Fiscal Year Ending June 30, 2024 <br />City of Redwood City 37 <br />Table 24 Affordable Housing Impact Fee Project Identification <br />Proje ct <br />CIP <br />(Y/N) <br />Estima ted <br />Start Ye a r <br />Total Project <br />Costs <br />% Funded <br />w ith Fe e <br />Reve nue <br />Amount <br />Funded w ith <br />Fe e Re venue <br />Other Funding <br />Sources <br />Broadway Plaz a N FY 24/25 $20,000 100%$20,000 N/A <br />Affordable Housing <br />Preservation Program [1]N FY 24/25 $6,837,156 9%$630,000 <br />Permanent Local Housing Allocation <br />(PLHA), Former RDA LMIHF, <br />Prohousing Designation Fund <br />Release of Notic es of Funding <br />Availability for New Affordable <br />Hous ing [2] <br />N FY 24/25 $4,895,745 92%$4,495,745 Affordable Housing <br />In-Lieu Fee <br />Nexus Study N FY 24/25 $100,000 100%$100,000 N/A <br />TOTAL $11,852,901 44%$5,245,745 <br />[1] Specific projects are to be determ ined as pres ervation opportunities are identified. <br />[2] As funds are available, the City will is s ue a Notice of Funding Availability (NOFA) to s olicit propos als for affordable hous ing projects . Specific projects are to <br />be determ ined. Funding am ounts awarded to projects will vary bas ed on account balance (in the Affordable Hous ing Im pact Fee account and the Inclus ionary <br />Hous ing In-Lieu Fee account) at the tim e of the NOFA and s pecific needs of the s elected projects . Funding awards are typically at leas t $1 m illion and often <br />m ore. <br />6.A. - Page 46 of 55 <br />51