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Program H2-4: Affordable Housing Development/Inclusionary Housinga) Continue to provide subsidies, as funds are available, to assist in the development of affordable housing units, acquisition of land for affordable housing construction, and preservation of existing affordable housing. 12/31/20316th CycleContinuousa) The City has made available approximately $6 million in funds for preservation of affordable housing via an over-the-counter program (Affordable Housing Preservation Program). In June 2025, the City issued a $1.2M loan to HEART-SV for the preservation of 8 units. The City also conditionally committed $4.3M to the affordable housing project at 1304 Middlefield in 2024. The City released a new construction NOFA in October 2025 for $7.9M. The new construction NOFA received two applications and will be prioritizing projects with extremely low income and very low income units.Units8Links to Council Resolution #161616 approving Housing Preservation Program and program webpage https://documents.redwoodcity.org/publicweblink/ElectronicFile.aspx?docid=520052&dbid=0https://www.redwoodcity.org/departments/city-manager/housing-services/developers/housing-preservation-fund1304 Middlefield Resolution No. 16204: https://documents.redwoodcity.org/publicweblink/0/edoc/520648/Reso24%2016204.pdfNew Construction NOFA: https://www.redwoodcity.org/home/showpublisheddocument/30325/638967461347070000Program H2-4: Affordable Housing Development/Inclusionary Housingb) Continue implementing the Affordable Housing Ordinance including below-market-rate (BMR) requirements for rental and ownership development.12/31/20316th CycleContinuousb) The City continues to implement the Affordable Housing Ordinance, including below-market-rate (BMR) requirements for rental and ownership development, as a standard part of its development review process.On 10/13/2025, the City Council adopted the Affordable Housing Ordinance (AHO) Incentive Program that temporarily reduces the AHO requirements by 25% for residential projects that pull building permits by June 2027. This program was developed to encourage stalled pipeline projects to move to construction. It is anticipated that this program will help move 791 units, including 120 affordable units, to construction by 2027. Other1Link to website and Ordinance 1130-89:https://www.redwoodcity.org/departments/city-manager/housing-services/developers/affordable-housing-ordinance-and-impact-feeshttps://www.redwoodcity.org/home/showpublisheddocument/30431/638980274819200000Program H2-4: Affordable Housing Development/Inclusionary Housingc) Conduct an initial revision to the Affordable Housing Ordinance to better support development of affordable housing, especially LIHTC financed housing. The initial revision process will include consultation with local affordable housing developers.6/30/20236th CycleCompletedc) The City amended its Affordable Housing Ordinance (Zoning Code Article 29) to provide additional flexibility and clarity to the following areas: - Modifications to affordable rent definitions; - Revisions to the concurrent constructionrequirements, and; - Additional land donation criteria.Effective as of 8/24/2023. Other1Ordinance #1130-387: https://documents.redwoodcity.org/publicweblink/0/edoc/520056/Ord2023%201130-387.pdfProgram H2-4: Affordable Housing Development/Inclusionary Housingd) Update the Affordable Housing Impact Fee Nexus Study as required by Government Code Section 65940.1 and 66016.5, including a study of target affordability levels and considerations for incentivizing extremely low-income units as part of the affordable housing ordinance. The nexus study update will be conducted as part of the 21 Elements led countywide nexus study update. As part of this update to the nexus study, revise the Affordable Housing Ordinance, as necessary. The City will continue to consult with affordable housing developers on the nexus study update and AHO revisions (by January 1, 2030).12/31/20266th CycleIn Progressd) The nexus study update will be conducted as part of a 21 Element-led countywide process. A request for proposals was released in summer 2025 and a consultant was selected in fall 2025. It is anticipated the nexus study will be complete by late 2026. Other1City Council Resolution #16355 authorizing City to accept grant funding from MTC and participate in a multi-jurisdictional grand nexus study: https://documents.redwoodcity.org/PublicWeblink/DocView.aspx?id=526735&page=1&searchid=e1bb0129-fb71-40a3-a961-a9f11f222778 Program H2-4: Affordable Housing Development/Inclusionary Housinge) Continue to allow alternative requirements to the AHO on a project-by-project basis in the near term.12/31/20316th CycleContinuouse) City staff continues to evaluate alternative proposals, as permitted under the City's Affordable Housing Ordinance, as a standard part of its development review process. The City has affordable housing guidelines with an entire chapter addressing alternative means of compliance to the AHO.Other1Chapter 2 (Alternatives) to the Affordable Housing Guidelines: https://www.redwoodcity.org/home/showpublisheddocument/29280/6386958913567000007.A. - Page 28 of 6335