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Annual and Five-Year Development Impact Fee Report <br />Fiscal Year Ending June 30, 2025 <br /> <br />City of Redwood City 41 <br />Affordable Housing In-Lieu Fee <br />• The City may accept payment of an Affordable Housing In-Lieu Fee for fractional units <br />resulting from the calculation of the City’s inclusionary housing requirements. The City <br />may also accept payments of an Affordable Housing In-Lieu Fee in place of construction <br />of on-site units if certain findings can be made pursuant to Section 29.8.B. of the City’s <br />zoning code Similar to the Affordable Housing Impact Fee, the purpose of the fee is to <br />provide housing affordable to extremely low-, very low-, low-, and moderate-income <br />households in the City, consistent with the goals and policies contained in the City’s <br />Housing Element. <br />• An “in‐lieu” fee is different than the development “impact fee.” It is voluntary in nature <br />and is not being “imposed” on a developer by Redwood City. Furthermore, the affordable <br />housing in-lieu fee for fractional units shall not exceed the fractional cost of providing an <br />affordable unit. This reasonable relationship between the fee and the purpose for which it <br />is charged is reflected in the City’s Municipal Code. <br />• There is an unexpended balance in the Affordable Housing In-Lieu Fee Account, which is <br />expected to be used to fund the development of new affordable housing through the <br />regular release of Notices of Funding Availability (NOFAs). Information about typical <br />NOFA award amounts, the estimated start year, and other funding sources are noted <br />below in Table 27. <br />Table 27 Affordable Housing In-Lieu Fee Project Identification <br /> <br /> <br /> <br /> <br />Project CIP <br />(Y/N) <br />Estimated <br />Start Year <br />Total Project <br />Costs <br />% Funded <br />with Fee <br />Revenue <br />Amount <br />Funded with <br />Fee Revenue <br />Other Funding <br />Sources <br />353 Main Street Affordable <br />Family Apartments [1] N FY 2025-26 $3,500,000 10% $350,000 <br />Former RDA LMIHF, <br />Affordable Housing <br />Impact Fee <br />Affordable Housing <br />Preservation Program [2]N FY 2024-25 $6,860,237 6% $416,820 <br />Permanent Local Housing <br />Allocation (PLHA), <br />Affordable Housing <br />Impact, Housing Support <br />TOTAL $10,360,237 7% $766,820 <br />[2] Specific projects are to be determined as preservation opportunities are identified. <br />[1] A $3.5 million residual receipt loan was provided to the 353 Main St. project comprised of RDA Low Mod funds ($2,410,325), <br />ATTY/RESO.0124/CC RESO ACCEPTING THE DEVELOPMENT IMPACT FEES REPORT FOR FISCAL YEAR 2024-25 - ATTACHMENT A <br />REV: 12-05-25 MI <br /> <br />8.A. - Page 51 of 55 <br />62