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1. The proposed affordable housing units provided by the Eden Housing Project would comply with the applicable standards in the Affordable Housing Ordinance. Because no market rate units will be provided, the requirements that the Affordable units be comparable to market rate units and made available for occupancy concurrently with the market -rate units are not applicable. 2. The Affordable units will serve to mitigate the impact of the Office Project on the need for affordable housing by directly providing the opportunity to build up to 71 deed restricted affordable units and one unrestricted manager's unit. This opportunity of land donation allows Eden to start seeking the other funding necessary to complete this affordable housing project as soon as possible — and to leverage additional outside investment dollars into the community. 3. A viable financing plan is in place for the proposed Affordable units. See Section 8. Utilizing 4% tax credits and other available public funding sources, Eden will be able to complete a larger affordable housing development and at deeper levels of affordability than is otherwise required by the City's ordinance. 4. The proposed Land Donation Site is suitable for the proposed affordable units, is consistent with the Housing Element, General Plan, and Zoning, and will not cause residential segregation. The approximately 72 units are proposed to be located on a parcel that is well -located in the transit - served and amenity -rich Woodside Road corridor. As stated in the Housing Element, "[n]ew housing in [this area] is an integral part of the vision for Redwood City; and a balance of housing opportunities for both affordable and market -rate housing is essential to meet this goal." (Housing Element, H-2). The Housing Element notes that mixed-use corridors such as Woodside Road are key to delivering residential capacity (Housing Element, H-70). The. proposed development of 71 affordable housing units will help the City achieve its current Regional Housing Needs Allocation (RHNA) of 1,637 affordable housing units while creating a more active frontage consistent with the goals of the Mixed -Use Neighborhood zoning. 5. According to the City's General Plan Housing Element adopted in 2015, 18% or 4,970 of the City's residents qualify as low-income, 59% or 2,932 of which are renters and are particularly at risk for overpaying for housing (Housing Element, H-19-20). Redwood City's Share of San Mateo County's Regional Housing Needs Allocation (RHNA) is 2,789 housing units of which 15% or 429 is designated as housing for households in the low-income category (Housing Element, H-108). The proposed units to be restricted to qualifying low-income households would contribute towards this RHNA obligation. 6. The Affordable Housing Plan would also further numerous Housing Element goals, policies and programs including the following: Goal H1: Maintain and increase the diversity of housing types in all City neighborhoods. 14 ATTY/AGR/2024.193.1 —AFFORDABLE HOUSING LAND DONATION AGREEMENT- EXHIBIT B- AFFORDABLE HOUSING PLAN REV: 10-22-24 VR Page 14 of 48