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6.1.E. - Page 3 <br /> The City Council could decide not to approve the agreement and instead direct staff to <br /> negotiate a different number of affordable units, or incentives, concessions, and <br /> development standard waivers with the developer. <br /> FISCAL IMPACT <br /> City Housing staff will need to monitor compliance of this Affordable Housing Agreement <br /> once the units are constructed and occupied, ensuring that the units remain affordable <br /> for the term specified in the agreement. Adequate staffing levels are in place to take on <br /> this task and thus the fiscal impact of monitoring is considered minimal. <br /> Redwood City is not responsible for funding construction of the affordable units. The <br /> City may, however, decide to provide some form of homeownership assistance to <br /> Qualified Eligible Buyers when the units are made available for sale. Various <br /> homebuyer assistance options may be provided by the City as part of one of the <br /> numerous programs proposed in the City's updated Housing Element. <br /> �-� <br /> J���EKAS, <br /> PLANNING MANAGER <br /> � <br /> WILLIAM EKERN, <br /> COMMUNITY DEVELOPMENT DIRECTOR <br /> �� <br /> ROBERT B. BELL, <br /> CITY MANAGER <br /> ATTACHMENTS <br /> 1. Affordable Housing Agreement — 333 Main Street <br /> 2. Affordable Housing Agreement — 333 Main Street (Exhibit A) <br /> 3. Affordable Housing Agreement — 333 Main Street (Exhibit B) <br /> 4. Affordable Housing Agreement — 333 Main Street (Exhibit C) <br /> RELATED DOCUMENTS IN CITY CLERK'S OFFICE <br /> 1. North Main Street Precise Plan <br /> 2. 333 Main Street Project Plans <br /> 3. Planning Commission staff reports and related documents for 333 Main Street <br />