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Rent, affordable homes, zoning, and decisions that shape where people can live.
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.
The agreement states that if either party brings a lawsuit to enforce rights, the prevailing party can recover reasonable attorney’s fees and costs from the other party.
The presentation explains that the agreement cannot be changed orally; any amendment must be a written document signed by both the developer and the city.
The commission will present that the BMR Housing Fund may provide below‑market‑rate financing for homebuyers as one of its eligible uses. No decision is required.
The City or its designee obtains an appraisal to determine the unit’s market value, considering any substantial improvements made by the seller.
The presentation states that, if authorized, developers may provide BMR units at a different site, but they must be delivered by project completion and meet the same income‑target percentages as on‑site units. Existing units must be repaired at developer expense, and pricing follows the same guidelines as on‑site units.
The agreement provides that if any provision is declared invalid, illegal, or unenforceable, the remaining provisions stay in effect.
The commission will describe how the City or its designee will set a sales price based on the original price, depreciation, and one‑third of the Bay Area cost‑of‑living index increase. The lower of market value or computed price will be used. No vote is needed.
The presentation described how a developer's responsibilities end once a BMR unit is recorded to an eligible buyer, following the grant deed and Resale Restriction Agreement requirements.
The commission will describe the process after a seller notifies the City and the unit is deemed in good repair. It covers how the City sets the price for the BMR unit. No action is requested.
The presentation highlighted transfers that do not meet the required conditions and the resulting default consequences under the BMR agreement.
The presentation explains that the city no longer maintains a ranked BMR purchase waitlist, but created a legacy list for households that were on the ranked list as of January 1, 2021, giving them priority over new applicants until the list is empty.
The commission outlined the definition of a first‑time homebuyer. It states that no household member may have owned a primary residence in the past three years. Mobile home owners are also included.
The presentation outlines that approvals required by the agreement must be in writing, and the city manager or designee may grant approvals that cannot be unreasonably withheld.
The agreement clarifies that any right, power, or remedy provided is not exclusive and can be used together with other rights or remedies.
The presentation says the developer must repay the city for reasonable costs, including attorney fees, incurred in reviewing transfer documents and successor qualifications, within ten days of receiving an invoice.
The commission will present that the City or its designee will check major lenders for current mortgage information, including interest rates and down payments, to estimate monthly housing costs. This supports the BMR unit pricing process. No decision is required.
Developer must secure all required city and other governmental permits before construction begins.
The presentation states that, to the fullest extent allowed by law, the developer must indemnify and defend the city and its heirs, using counsel approved by the city.
The presentation requires the developer to maintain insurance as specified in Exhibit D at its own expense until the unit is transferred and the resale restriction agreement takes effect.
BMR units have a 55‑year right of first refusal for the City, with purchase price based on market value or seller price plus CPI adjustments.
The agreement states that it is a covenant that runs with the land, binding the developer’s successors and assigns to its terms.
