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7 <br />III. RELOCATION RESOURCES <br /> <br />A. METHODOLOGY <br /> <br />For residential housing, a resource survey was conducted to identify available comparable rental <br />units within proximity to the Project Site. The following sources were utilized: <br /> <br />-- Classified rental listings from local newspapers and For Rent publications <br />-- Internet sources of rental opportunities (Craigstlist, apartments.com, Zillow, etc.) <br /> <br />B. REPLACEMENT HOUSING AVAILABILITY <br /> <br />1. Residential Rental Housing <br /> <br />The replacement housing survey over a one-week period in early August 2024 considered <br />available two- and three-bedroom SFRs for rent in within Redwood City. The data for available <br />units ultimately located within 5 miles of the Project Site is summarized in Table 1 below. <br /> <br />Table 1: Availability and Cost of Replacement Rental Housing <br /># of BRs 2BR 3BR <br /># Found (# Needed) 7(1) 6(1) <br />Rent Range $2,985 - $4,000 $3,595 - $5,950 <br />Median Rent $3,450 $4,250 <br /> <br />The available units identified were in residential and mixed-use neighborhoods with access to <br />restaurants, retail stores, schools, medical facilities, social services, public transportation, parks <br />and opportunities for employment. The list of identified comparable housing units is shown in <br />Exhibit B. <br /> <br />The median rent amount shown in the table is among the figures used to make benefit and budget <br />projections for the Plan. This amount is, naturally, subject to change according to the market <br />rates prevailing at the time of displacement. <br /> <br />2. Alternate Storage Facilities <br /> <br />Although there is no requirement to offer referrals of “replacement sites” to tenants with personal <br />property only moves, a survey of storage facilities within a three-mile radius of the Project site <br />was conducted. Five storage facilities were identified, that may be options for the displaced <br />storage unit tenants. <br /> <br />3. Summary <br /> <br />Considering the above-described availability of replacement housing resources gathered, it <br />appears there are an adequate number of replacement units for the residential occupants. <br /> <br />While adequate replacement resources exist for the tenants, based on survey results of rental <br />opportunities and the tenants’ current rent, some tenants may have an increase in monthly rent. <br />Possible increases, if any, will be met through the Developer’s obligation under the relocation <br />regulations, including Last Resort Housing (“LRH”) requirements. (See Section IV, E). <br />ATTY/RESO.0034/CC RESO APPROVING PROJECT (901 EL CAMINO REAL) - EXHIBIT C <br />REV: 04-22-25 VR <br /> <br />Page 99 of 224