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MINUTE ORDER <br />JOINT CITY COUNCIL / SUCCESSOR AGENCY BOARD <br />PUBLIC FINANCING AUTHORITY MEETING <br />FebruarV 11, 2019 <br />MO. 19-025 <br />CITY CLERK DEPARTMENT <br />Redwood City <br />Date: February 11, 2019 <br />Attention: City Attorney <br />City Manager <br />**hard copy available upon request" <br />SUBJECT: Direction to negotiate agreements to provide $6 million in future City <br />affordable housing funds for the 100% affordable housing developments located at <br />353 Main Street (ROEM Development) and 612 Jefferson (Habitat for Humanity) <br />AGENDA ITEM: 6.E. (304) <br />Meeting of the Joint City Council/Successor Agency Board/Public Financing Authority <br />Meeting on February 11, 2019. <br />Present: Council Members, Aguirre, Borgens, Hale, Howard, Masur, Reddy, and Mayor Bain <br />M/S Borgens/Masur, by motion to authorize and direct the City Manager to (1) negotiate an <br />affordable housing funding agreement and propose a resolution for City Council <br />consideration providing $3.5 million in affordable housing funding for a 125 -unit apartment <br />building located at 353 Main Street and (2) negotiate an affordable housing funding <br />agreement and propose a resolution for City Council consideration providing $2.5 million in <br />affordable housing funding for a 20 -unit affordable development located at 612 Jefferson <br />Avenue. Each resolution will be brought forward as affordable housing funds are received <br />through payment of affordable housing impact fees associated with other development <br />projects and through Transit Occupancy Tax received from AirBNB units in order of the <br />motion above. If funds are not available by June 2020, the City Manager may request further <br />Council direction based on priorities at that time. <br />Motion passes unanimously by electronic vote. <br />9";6-6X91 <br />Pamela Aguilar, CMC <br />City Clerk <br />