Agmt25 El Camino Real Holding JV LLC, - 920 Shasta

Browse Search

22206 920 Shasta Affordable Housing Plan and Density Bonus Request November 5, 2024 ATTY/AGR/2025.084/920 SHASTA AFFORDABLE HOUSING LAND DONATION AGREEMENT REV: 10-16-25 VR Exhibit B-1 - 1 EXHIBIT B-1 AFFORDABLE HOUSING PLAN 1.How the proposed units conform to the requirements of this Article and City and State Density Bonus law requirements, as applicable. The 920 Shasta/122 Buckeye project (the “Project” or “Affordable Project”) is proposed to satisfy and exceed the City’s Affordable Housing Ordinance requirements 1 for the proposed Office Project at 901 El Camino Real. As shown in the table of “Required Affordable Units per 100,000 net new sf in a Nonresidential Project,”2 a nonresidential Office Development would need to provide ten affordable dwelling units per 100,000 sf of Office Development, with a breakdown of three moderate income, five low income and two very low-income dwelling units. The Project exceeds these requirements. Center/Office Amenity. The Teen Center portion (50% or 3,317.5 sf) of the 6,635 sf Teen Center/Office Amenity space is exempt from Affordable Housing requirements per Resolution 16014. Required Affordable Units per 100,000 net new SF Development Type Multiple Mod Low VL ELI Total BMR Office Requirement 100,000 3 5 2 0 10 Retail Requirement 100,000 0 2 2 0 4 Hotel Requirement 100,000 0 2 2 0 4 Required Affordable Units by AMI Level to Mitigate Impact Fee Obligation Development Type Project SF Mod Low VL ELI Total BMR Net New Office SF 308,543 9.26 15.43 6.17 0.00 30.853 Net New Retail SF 0.00 0.00 0.00 0.00 0 Total Commercial Requirement 9.26 15.43 6.17 0.00 30.85 Please note that the subject site currently has three existing buildings totaling 8,334 sf that will be demolished as part of the Office Project (901 El Camino Real - 6,453sf, 947 El Camino Real – 629sf, 999 El Camino Real – 1,252sf). These structures are shown on the 1 See Ordinance No. 1130-387 adopted July 24, 2023 available at https://www.redwoodcity.org/home/showpublisheddocument/27223/638327167283900000 accessed October 25, 2023. 2 See https://www.redwoodcity.org/departments/city-manager/housing-services/developers/affordable-housing- ordinance-and-impact-fees accessed October 25, 2023.