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Page 3 of 4 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org <br />2.Section 3.1.2 “Replacement of Management Agent” of Attachment No. 7 - Form of Regulatory <br />Agreement - edited to allow owners to enter a contract with a property manager for up to three years <br />instead of just one year, and extended the timeline from 30 day to 60 days for owners to remove <br />property managers who are in violation of the City’s regulatory agreement. These edits were <br />previously requested by HEART-SV for the first HPP project. HEART-SV noted that most property <br />management companies are seeking multi-year contracts and 30 days did not provide the property <br />owner with enough time to find a replacement property manager. These edits are now being made <br />to avoid similar requests and streamline future applications. <br />The recommended amendments to the HPP guidelines are included as an attachment (Exhibit A) to the <br />resolution attached as Attachment A. The revised template loan documents are included as an attachment <br />(Exhibit B) to the resolution. <br />EQUITY IMPACT STATEMENT <br />All City actions are assessed for impact. Because this item is on the consent calendar, this section indicates <br />assessment process, not findings. The anticipated impact of this policy, program, or action has been <br />assessed in the following ways: <br />Through the development of the ADS, the City conducted community engagement with the <br />population(s) most affected by this action <br />Reviewed data from a similar program or policy in another jurisdiction <br />Reviewed data related to a standard or emerging best practice <br />FISCAL IMPACT <br />There is no fiscal impact to the General Fund related to the recommended amendments, but the amount <br />of residual receipt payments the City will receive will vary by project. <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA <br />Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably <br />foreseeable indirect physical change in the environment. <br />PUBLIC NOTICE <br />Public notification was achieved by posting the agenda, with the agenda items being listed, at least 72 <br />hours prior to the meeting. <br />7.F. - Page 3 of 112 <br />124