Agda Pkt 2025.12.08 Joint SA PFA

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Page 3 of 8 City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org (5) Developer to be given a fee credit for certain improvements; and (6) Developer and City to enter into an Agreement for Exchange of Real Property to effectuate the Blomquist Extension. The Development Agreement authorizes the City and Developer to enter into Insubstantial Amendments (as defined in the Development Agreement) without a public hearing but requires City Council approval by ordinance for Major Amendments, including any amendment modifying the term of the Development Agreement. The Development Agreement was first amended on February 22, 2021 (First Amendment) and a second time on January 24, 2022 (Second Amendment). The First Amendment and Second Amendment were each Insubstantial Amendments. A Third Amendment to Development Agreement was a Major Amendment approved by the City Council on May 22, 2023 (Third Amendment) because it extended the term by three years. The applicant is requesting a fourth amendment at this time (Fourth Amendment), which is also a Major Amendment as it would further extend the term of the Development Agreement by another three years, with the opportunity for Developer to receive an additional two-year extension subject to Developer meeting certain development milestones. The proposed Fourth Amendment to the Development Agreement would provide the Developer with additional time to complete the Project and flexibility to phase construction of the Bay Trail with the proposed townhome units and in turn the City would receive the following benefits: Facilitates completion of the Blomquist Street Extension at the Developer’s expense (aside from certain fee credits). The Developer is able to deliver the roadway more cost effectively given they will be mobilized to build the onsite infrastructure at the same time. The Developer is also more likely to be able to deliver the project in a much shorter timeframe than the City given other priority transportation projects that are currently in process. Completion of the Blomquist Street Extension will clear the way for development of a proposed 110-unit affordable housing project at 1580 Maple Street. With substantial public infrastructure improvements already completed or underway, as well as active building and construction permits (i.e., shovel ready), an extension would enable the approved housing project to continue in its current form and design without further delay. Meets transportation goals by extending a Bay Trail segment along the project’s waterfront to the benefit of the surrounding area. Provides much needed “missing middle” housing within a newly formed residential neighborhood combined with desirable waterfront access. Promotes delivery of new housing units for the City to achieve its regional housing needs. Provides impact fees to facilitate both park and affordable housing projects citywide. The proposed Second Amendment to the Subdivision Agreement would align with the proposed Fourth Amendment to Development Agreement, acknowledge the work that has been completed, and update timing and cost estimates to ensure completion of the improvements. On November 18, 2025, the Planning Commission held a public hearing on the Fourth Amendment to the Development Agreement portion of the applicant’s request and recommended 4-1 (Commissioner Hunter dissenting and Commissioners Finch and Robinson absent) that the City Council approve the Amendment. The Planning Commission discussed the market conditions that currently exist and the need for further extension to facilitate and prioritize construction of housing at this site and the adjacent 1580 Maple 9.C. - Page 3 of 56 547