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This order could easily be adapted based on timing of NOFA releases and funding availability. Although <br />we are confident in the feasibility of the sources we have proposed, there is strong adaptability in this <br />project to consider alternative sources, primarily for the $18 million in MHP and IIG funds we have <br />underwritten. These alternative sources could include: <br />• San Mateo County funds, which are typically a reliable source <br />• Strategic Growth Council AHSC funds, which could include infrastructure improvements and the <br />opportunity to invest in the samTrans service, something we have done successfully on our Light <br />Tree project in East Palo Alto, two of our developments in Downtown Santa Cruz and several <br />others across the East and South Bay area. <br />• State tax credits <br />While not committed at this juncture, it is likely that the additional funding secured by Eden will also <br />ultimately require even deeper levels of affordability (with units targeted to Extremely Low -Income <br />populations and likely also some smaller set aside for homeless/formerly homeless households) than will <br />be required by the City's recorded affordable agreements. This further supports Redwood City's stated <br />housing goals and objectives. <br />Unit Breakdown <br />Based upon a 4% execution, we anticipate having the following by bedroom size, average square footage, <br />and affordability level. <br />Option 1 - 72 Units <br />## Units <br />Bedrooms <br />Studio <br />25 <br />25 <br />1 bed <br />5 <br />5 <br />2 bed <br />21 <br />42 <br />3 bed <br />20 <br />60 <br />NET W/O Mgr <br />71 <br />132 <br />manager <br />1 <br />2 <br />TOTAL <br />72 <br />134 <br />AFFORDABILITY MIX <br />Units <br />Net Rent <br />Extremely Low Income Units @ 30% AMI- <br />$922 <br />studio <br />1 <br />Extremely Low Income Units @ 30% AMI- 1 <br />$981 <br />bed <br />1 <br />Extremely Low Income Units @ 30% AMI- 2 <br />$1,167 <br />bed <br />3 <br />Extremely Low Income Units @ 30% AMI- 3 <br />$1,334 <br />bed <br />3 <br />Very Low Income Units @ 50% AMI- studio <br />$1,575 <br />10 <br />27 <br />ATTY/AGR/2024.193.1— AFFORDABLE HOUSING LAND DONATION AGREEMENT - EXHIBIT B - AFFORDABLE HOUSING PLAN <br />REV: 10-22-24 VR Page 4S of 48 <br />