Laserfiche WebLink
Page 6 of 11 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />TABLE 2: APPROVED AND PROPOSED AFFORDABLE HOUSING COMPLIANCE <br />Original Approved Project <br />Lot <br />Extremel <br />y Low <br />Very <br />Low Low <br />Moderat <br />e <br />Total <br />Affordabl <br />e <br />Market <br />Rate <br />Units <br />Total <br />Units <br />Lot A 0 0 38 21 59 193 252 <br />Lot D 0 9 21 20 50 199 249 <br />Lot F2 15 15 8 0 38 1 39 <br />Total 15 24 67 41 147 393 540 <br />Commercial Affordable Housing Impact Fee $0 <br />Current <br />Proposal <br />Lot <br />Extremel <br />y Low <br />Very <br />Low Low <br />Moderat <br />e <br />Total <br />Affordabl <br />e <br />Market <br />Rate <br />Units <br />Total <br />Units <br />Lot A 0 11 0 25 36 216 252 <br />Lot D 0 21 0 24 45 204 249 <br />Lot F <br />2 15 15 8 0 38 13 39 <br />Total 15 47 8 49 119 421 540 <br />Commercial Affordable Housing Impact Fee <br />$5,822,00 <br />1 <br />The applicant has also indicated that they will be pursuing the Affordable Housing Ordinance <br />Incentive Program, a temporary program that provides a 25% reduction in the AHO requirements <br />for residential developments, including the residential component of mixed-use projects. This <br />program, adopted on October 13, 2025 and effective on November 12, 2025, applies to any <br />eligible project that has or obtains project entitlements by June 30, 2026, and obtains building <br />permits for the vertical construction of the residential development by June 30, 2027. The Elco <br />Yards project was contemplated as a potential eligible project for this incentive program and has <br />indicated they intend to pull building permits for lots A and D in 2026. <br />2. Revised State Density Bonus Request. <br />The State Density Bonus Law (SDBL) and the City’s Density Bonus regulations allow applicants to <br />request density bonuses, concessions, and waivers of development standards. The City is required <br />to grant a certain number of concessions to an eligible project where a modification in certain <br />development standards results in identifiable cost reductions to provide affordable housing. The <br />City is also required to grant waiver(s) to an eligible project if a development standard would <br />2 Seven of the extremely low income and 15 of the very low income units in Lot F are replacement affordable units, <br />as the project purchased and demolished the City-owned building at 1306 Main Street which contained 22 <br />affordable units at the very low-income level. As noted above, all units in Parcel F are complete and occupied. <br />3 Onsite manager’s unit <br />8.B. - Page 6 of 120 <br />169