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AFFORDABLE HOUSING LAND DONATION AGREEMENT
<br />This Affordable Housing Land Donation Agreement (“Agreement”), executed and dated
<br />as of _______ __, 2025 (the “Execution Date”), is entered into by and among the City of Redwood
<br />City, a California charter city (“City”), El Camino Real Holdings JV LLC, a California limited
<br />liability company (“Developer”), and Abode Communities, a California non-profit public benefit
<br />corporation, and its permitted successors and assigns (the “Qualified Designee”), with reference
<br />to the following facts:
<br />Recitals
<br />A.The following recitals (“Recitals”) refer to and utilize certain capitalized terms
<br />which are defined in the Recitals, the preamble of this Agreement, and Article 1 of this
<br />Agreement. The parties intend to refer to those definitions with the initial use in bold, and
<br />thereafter with capitalized terms.
<br />B.On June 25, 2018, the City adopted Ordinance 1130-375, the Affordable Housing
<br />Ordinance, set forth in Article 29 of the Redwood City Zoning Code, as amended (the
<br />“Ordinance”) which requires that specified new nonresidential development projects and
<br />residential development projects construct affordable units on-site or pay a housing impact fee as
<br />specified in Section 29.3 of the Ordinance (“Affordable Housing Impact Fee”). The Ordinance
<br />allows, under specified circumstances, a developer to propose alternative means of compliance,
<br />as set forth in Section 29.8 of the Ordinance. The City has also published Affordable Housing
<br />Guidelines, dated May 8, 2024, as amended (“Affordable Housing Guidelines” or
<br />“Guidelines”), to assist with the implementation of the Ordinance.
<br />C.Developer submitted an application for development of a project at 901 El Camino
<br />Real for a six (6) story mixed-use commercial office and research and development/laboratory
<br />project, consisting of approximately 305,225 square feet of office, approximately 6,450 square
<br />feet for a teen center/multi-purpose space and approximately 3,900 square feet of open space area
<br />and related amenities and infrastructure, (the “901 El Camino Real Project”), which is subject
<br />to the Ordinance. Concurrently with this Agreement, the City has approved certain entitlements
<br />on the 920 Shasta Project, including but not limited to General Plan and Downtown Precise Plan
<br />Amendments, a Vesting Tentative Parcel Map, a Downtown Planned Community Permit, Use
<br />Permit, Planned Development Permit, Affordable Housing Plan and Relocation Plan defined in
<br />Recitals F and K, subject to Conditions of Approval (collectively, the “920 Shasta Project
<br />Approvals”).
<br />D.Concurrently approved with this Agreement, on ______, 2025, the City approved
<br />the 901 El Camino Real Property Approvals and adopted Ordinance No. _______ approving a
<br />Development Agreement By and Between City of Redwood City and El Camino Real Holdings
<br />JV, LLC in connection with the 901 El Camino Real Project (“Development Agreement”). As
<br />part of the Development Agreement, the Developer and the Qualified Designee are required to
<br />enter into a Partial Assignment of Development Agreement (the “Partial Assignment of
<br />Development Agreement”), the form of which is attached as Exhibit G to the Development
<br />Agreement, upon the transfer of the Affordable Site to the Qualified Designee, in which the
<br />EXHIBIT C
<br />ATTY/RESO.0029/CC RESO APPROVING ARCHITECTUAL PERMIT, TENTATIVE PARCEL MAP (920 SHASTA) - EXHIBIT C
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