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��-Z$ <br /> � including 97 units affordable to very low income households (those <br /> `" eaming half or less of the San Mateo County median income). The <br /> shortage of housing is worst for moderate and very low income <br /> households. New affordable housing will not only alleviate human <br /> costs of the housing sh�rta��e, but will help foster economic <br /> development, whicFr is hand,r,ap'�ed by the lack of local housing for <br /> employees. This Project would be the largest addition of new <br /> affordable units in the City or County in many years. In addition, it <br /> would be provided without any financial commitment by the City to <br /> the Developer, preserving scarce housing assistance for other <br /> developments. <br /> (iii) Economic im�acts to the Citv of Redwood Citv. The Project <br /> will provide significant market support to downtown businesses and <br /> will enhance the City's ongoing revitalization efforts. The Project <br /> may include a first-quality 200-room hotel, providing a feature which <br /> does not exist in this area of the City and which is important to <br /> economic development. The Project will result in additional new <br /> employees in its office and commercial space. <br /> (iv) Increase in Number of Jobs. The economic development <br /> goals and policies of the Redwood City General Plan i�clude <br /> creating more job opportunities. The Project would promote these <br /> goals and policies by providing space for more than 200 additional <br /> jobs, as weil as many construction-related jobs over a period of <br /> years. <br /> (v) Open Saace, Waterfront Access. Recreation and Park <br /> Ooaortunities. The Project would make accessible to the general <br /> public, as well as residents, workers in the Project area and <br /> business customers, extensive waterfront esplanades and other <br /> attractive waterfront access and recreation and park opportunities, <br /> in an area where public waterfront access is currently limited and <br /> largely impractical. The Project would also promote access to and <br /> enjoyment of the San Francisco Bay waterfront by providing <br /> community-serving amenities such as restaurants, shops and <br /> community facilities, and by carefully designed integrated <br /> walkways, internal waterways and other open space and overlooks. <br /> (vi) New Hiah-t.2ualitv Livina Environment. The Project will <br /> provide an appealing and livable residential environment—a high- <br /> density urban village with ground level activity, pedestrian <br /> amenities, innovative design and high-quality architecture. Building <br /> location and massing, spatial relationships among buildings and <br /> open space and architectural detailing will be designed to provide <br /> attractive opportunities for pedestrians and bicyclists and inviting <br /> spaces for recreation and gathering and to maximize light, <br /> 1289\02�7792782 5 <br /> Atty/Reso/Reso.1470 <br /> 052004 <br />