Reso 16432 - Laserfiche WebLink

Browse Search

ATTY/RESO.0052/ CC RESO APPROVING SUBSTITUTE SITE AS AFFORDABLE HOUSING SITE (705 VETERANS)(1900 BROADWAY DA) REV: 07-21-26 MI Page 1 of 11 RESOLUTION NO. 16432 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING A SUBSTITUTE SITE (705 VETERANS BLVD) AS THE AFFORDABLE HOUSING SITE AND DESIGNATED AFFORDABLE HOUSING PROJECT IN THE 1900 BROADWAY DEVELOPMENT AGREEMENT; AND APPROVING THE AMENDED AND RESTATED AFFORDABLE HOUSING PLAN WHEREAS, on October 28, 2024, the City Council for the City of Redwood City (“City Council”) concurrently adopted Ordinance No. 2543, which approved a Development Agreement by and between the City of Redwood City (“City”) and Lane 1900 Broadway Owner LLC (“Lane”) (hereinafter referred to as “1900 Broadway DA”), and approved Resolution No.16257, which approved a Downtown Planned Community Permit, Vesting Tentative Map, and a Use Permit for the development of a seven (7)-story, 92 foot mixed-use commercial office building consisting of approximately 256,205 square feet of development, including approximately 238,300 square feet of office, 10,060 square feet of ground floor retail, 12,085 square feet of public plaza, approximately 1,000 square feet public community room with an additional 715 square feet of storage for the City’s use, (hereinafter collectively referred to as “1900 Broadway Project”); and WHEREAS, under Article 29 of the Redwood City Zoning Ordinance (the “Affordable Housing Ordinance”), nonresidential development projects must mitigate the impact of the development on the need for affordable housing. Accordingly, as applied under the Affordable Housing Ordinance, the 1900 Broadway Project required either: (1) the creation of twenty-five (25) units of affordable housing; or, (2) the payment of an Affordable Impact Fee in the approximate amount of Five Million Seven Hundred Seventy- Three Thousand Four Hundred Thirty-Seven Dollars ($5,773,437). The Affordable Housing Ordinance also allows for alternative means of compliance for developers, including the donation of off-site real property for the construction of affordable housing units, as specified in the Affordable Housing Ordinance and Affordable Housing Guidelines (“Guidelines”); and WHEREAS, in order to satisfy the requirements in the Affordable Housing Ordinance, Lane agreed to donate real property located at 847 Woodside Road, Redwood City, (Assessor’s Parcel Number 059-240-810) ( “Affordable Housing Site”), and to partially assign certain affordable housing obligations of the 1900 Broadway DA to Eden Housing, Inc., a California nonprofit public benefit corporation (“Affordable Housing Partner”), in order to construct seventy-one (71) deed-restricted affordable rental units (“Affordable Housing Project”); subject to an Affordable Housing Land Donation Agreement, Affordability Covenant and Partial Assignment and Assumption of the Development Agreement, attached as Exhibits F and G to the 1900 Broadway DA respectively; and WHEREAS, on October 28, 2024, in Resolution No. 16257, the City Council approved the land donation of the Affordable Housing Site, and associated Affordable