Housing CommissionMenlo Park
Title transfer procedures for BMR units
BMR owners must contact the City before adding anyone to title or transferring the unit.
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BMR owners must contact the City before adding anyone to title or transferring the unit.
A notice is considered satisfied three days after it is mailed by first‑class certified mail.
The agreement becomes effective when the developer receives a certificate of occupancy or temporary certificate.
The City or its designee obtains the homeowner’s dues, insurance, and tax amounts from the seller.
No final inspection of BMR units until the purchase or rental price is agreed in writing by the developer and the City Manager.
All adult applicants and household members must complete a one-time homebuyer education workshop, class, or counseling session.
The agreement will be recorded in San Mateo County records and cannot be subordinated to other liens without City written consent.
Staff asks the Housing Commission to recommend the Planning Commission approve a BMR agreement for two low‑income, for‑sale units in a six‑unit townhouse project at 624 University Dr.
The commission is reviewing the amendment clause that only written agreements can change the housing agreement.
If any part of the agreement is declared invalid, the rest remains enforceable.
The City or its designee files the Grant Deed, BMR Agreement, Deed Restrictions, and release with the title insurance company for recording.
The procedure follows the same steps as Sections 9.1.7‑9.1.16, substituting the seller for the developer.
Developers must notify the City when a BMR unit is ready for sale and occupancy.
Requests for BMR fund use must be submitted to staff with details on the proposal, funding amount, households served, and loan terms.
Any right, power, or remedy in the agreement is cumulative and does not exclude other rights.
Owners must occupy the BMR property as their primary residence for 55 years, staying at least 10 months each year.
City members, officials, employees, and agents are not personally liable for any default or breach by the City.
A household includes all people living in a housing unit, such as family members, lodgers, foster children, or employees.
The BMR Housing Fund may provide below‑market‑rate financing for homebuyers.
The city will sell BMR units only to eligible low‑income or very low‑income buyers.
Staff recommends the Housing Commission approve a draft Below Market Rate (BMR) Housing Agreement for a six‑unit townhouse project at 624 University Dr. The agreement includes two on‑site, for‑sale, low‑income and very low‑income units.
The presentation states that the agreement will be interpreted under California law. Any references to statutes will follow future amendments, and legal actions will be taken in the County.
Developers must notify the city when a BMR unit passes its final inspection. City staff then inspect the unit, issue a certifying letter, and determine the unit’s price using tax, HOA, and other data. Household size calculations include children under joint custody arrangements.
A presentation explained how BMR (Below‑Market‑Rate) units will be sold to eligible low‑income and very low‑income buyers under the BMR Ordinance. The sale process begins once the city sets the Maximum Sales Price.