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Rent, affordable homes, zoning, and decisions that shape where people can live.
Sellers must notify the City by certified mail and ensure the unit is in good repair and “salable condition,” covering items like flooring, systems, fixtures, and landscaping.
The City can waive any term or condition of the agreement by written consent.
The City checks major lenders to obtain current mortgage rates, loan terms, points, and down‑payment requirements.
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.
