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ATTY/RESO.0020/CC RESO APPROVING AMENDMENTS TO HPP GUIDELINES – EXHIBIT A REV: 05-04-26 LF Page 7 of 21 Maximum rents Please refer to the separate Available Funding document for maximum rents specific to the current funding sources, which may target lower income levels. Refer to the Redwood City website for current rents: Redwood City Rent Limits Rent increases Maximum 5% annually Redwood City Monitoring Fee See current monitoring fee rates in the Housing section of the Master Fee Schedule Developer fee 10% of total project cost Deferred fee may be paid after all required operating costs and asset management fees but prior to residual receipts payments. Replacement reserves $500/unit deposited from cash flow on an annual basis over the 20-year period increasing by applicable Consumer Price Index for San Francisco-Oakland-Hayward area every 5 years, or the equivalent thereof up-front Reserves must be justified by Physical Needs Assessment and must exceed the minimum if necessary. Capitalized operating reserves Minimum 3 months’ expenses, including: hard debt, monitoring fees, and replacement reserves Debt coverage ratio 1.1-1.25 over the first 15 years of cash flow or loan term (whichever is longer) City Subsidy limit $300,000/unit Asset management fee Maximum $25,000/year with 3.5% escalator Subordination City will subordinate its deed of trust to lenders with a greater investment (senior lenders). City will not subordinate its regulatory agreement to any deed of trust, but will subordinate its regulatory agreement to a senior lender’s regulatory agreement. Insurance See Exhibit A, Insurance Requirements. The City Manager is authorized to make modifications to the Insurance Requirements as the City’s Risk Manager deems necessary or sufficient to effectuate the Program under the circumstances subject to City Attorney approval. Hard cost contingency At least 20% of hard costs, including general requirements, overhead, profit, and contractor’s contingency