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zoning, and will not cause <br />residential segregation; and <br />3. The proposed affordable units <br />comply with the applicable <br />standards in this Article, including, <br />without limitation, the <br />requirement that the affordable <br />units be made available for <br />concurrent occupancy per Section <br />29.6B. <br />This finding can be made. See Section VII, Item N. <br /> <br /> <br />X. Conclusion <br /> <br />This Amended and Restated Affordable Housing Plan proposes to directly contribute nearly twice the <br />amount of the Impact Fee owed by purchasing and donating the Substitute Site to Eden, a respected <br />non-profit, that will in turn leverage and entitle the site to develop 75 units of affordable housing (plus a <br />manager’s unit) that would be restricted to qualifying low-income households for a term of 55 years. 54 <br />of these units would be restricted for rental to tenants with extremely low/ very low income and 21 of <br />these units would be restricted to tenants with low income. Upon completion, Eden, a demonstrated <br />leader in the creation and operation of such projects, would continue to operate and manage the <br />affordable units to ensure compliance with Affordable Housing Ordinance. These units would directly <br />contribute to meeting the City’s RHNA obligation to provide for 1,115 extremely low/very low income <br />units and 643 low income units using financial support from Lane that far surpasses the otherwise <br />applicable Impact Fee for Lane’s Lane Project. We hope that this creative private, public and social <br />sector solution will be welcomed and supported by the City as an exciting opportunity to help address <br />the affordability challenges facing the City of Redwood City and our region. <br />XI. List of Attachments <br />1. Attachment 1: Affordable Unit Breakdown Chart <br />2. Attachment 2: Eden Project Site Plan <br />3. Attachment 3: Required Affordable Units by Income Level <br />4. Attachment 4: Compliance with Affordable Housing Plan Standards; Consistency <br />with General Plan, Zoning and Housing Element <br />5. Attachment 5: Public Transit <br />6. Attachment 6: Phasing Plan <br />7. Attachment 7: Financing Plan <br />8. Attachment 8: Qualifying Designee <br />9. Attachment 9: Term Sheet <br />10. Attachment 10: Mitigation of Affordable Housing Impacts <br /> <br />ATTY/RESO.0052/ CC RESO APPROVING SUBSTITUTE SITE AS AFFORDABLE HOUSING SITE (705 VETERANS)(1900 BROADWAY DA) - EXHIBIT 1 <br />REV: 07-21-26 MI <br /> <br /> <br />Page 14 of 53