Agda Pkt 2026.05.11 Joint SA PFA

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Page 7 of 8 City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org (January 2023-January 2031), Redwood City’s fair share of housing production amounts to 4,588 units, of which 1,115 would be for very low-income households (including extremely low-income households) and 643 are planned for low-income households. As of December 31, 2025, the City has permitted 118 extremely low-income units, 171 very low-income units and 303 low-income units. However, a substantial number of units remain to meet RHNA targets, including 826 very low-income units and 340 low-income units over the remainder of the cycle. Many jurisdictions find that by using the Surplus Land Act and public lands, they are in a unique position to advance production of affordable housing that would otherwise be left to developers and property owners. Under the Surplus Land Act, as much as 100 percent of the units that may be built on Lot B may be affordable to low- and moderate-income households, with at least 75 percent of those affordable to lower income households. As illustrated in the feasibility analysis prepared by RSG, subject to receipt of proposals from developers, the City may be able to facilitate the development of between 70 and 104 affordable units, all of which would likely be affordable to very low and low income households given the restrictions of tax credit financing that would be desired by affordable developers. FISCAL IMPACT Redevelopment of public parking lots that results in preservation of public parking enables the City to maximize utilization of real estate in downtown. Generally, Lot B and other parking lots in the City’s Parking Fund require an ongoing subsidy from the City to cover operations and maintenance costs. While these costs may continue even with redevelopment, such an effort would maximize the use of property owned by the City and help achieve policy goals for downtown and with respect to affordable housing needs. If the City selects a developer for Lot B redevelopment, the City may face additional costs for land and project subsidy which have only been preliminarily studied at this time. Any requests for a developer subsidy from the City would be brought back to the City Council for discussion and consideration at a future date. ENVIRONMENTAL REVIEW This activity is not a project under California Environmental Quality Act (CEQA) as defined in CEQA Guidelines, section 15378, because it has no potential for resulting in either a direct or reasonably foreseeable indirect physical change in the environment. PUBLIC NOTICE Public notification was achieved by posting the agenda, with the agenda items being listed, at least 72 hours prior to the meeting. 9.B. - Page 7 of 8 510