HomeMy WebLinkAboutReso 10-2024 (24-09)A& City of South San Francisco P.O. Box 711 (City Hall, 400
Grand Avenue)
City Council South San Francisco, CA
qW Resolution: RES 10-2024
File Number: 24-09 Enactment Number: RES 10-2024
RESOLUTION APPROVING BUDGET AMENDMENT
NUMBER 24.028 AND AUTHORIZING THE CITY'S
ACQUISITION OF THE BELOW MARKET RATE (BMR)
UNIT AT 2230 GELLERT BOULEVARD, UNIT 3105 (APN
104540050).
WHEREAS, the City's Inclusionary Housing Ordinance (Municipal Code Chapter 20.380) creates
Below Market Rate (BMR) housing within both ownership and rental developments; and
WHEREAS, on August 10, 2023, the City received a Notice of Intent to Sell from the owner of the
BMR unit located at 2230 Gellert Boulevard, Unit 3105; and
WHEREAS, the unit was posted on Multiple Listing Service (MLS) and the City's website on
October 19, 2023, with the affordability restriction set to 80% Area Median Income (AMI) and has received
no qualifying applicants for purchase; and
WHEREAS, the timeline for the City to assign its right of first refusal is set to expire shortly, after
which the BMR owner can sell the property to any buyer, removing the BMR resale restriction agreements;
and
WHEREAS, to avoid the loss of this affordable housing unit, the City will immediately exercise its
option to purchase the unit using Commercial Linkage Fees (Fund 823); and
WHEREAS, once acquired, the City can determine the appropriate income level at which to
market the unit for resale.
NOW, THEREFORE, BE IT RESOLVED by the City Council of South San Francisco that it
hereby:
1. Authorizes the City Manager or their designee to exercise the City's option to acquire the BMR unit.
2. Approves Budget Amendment Number 24.028 appropriating funds from the City's Commercial
Linkage Fee Fund (Fund 823) to acquire the BMR unit.
3. Authorizes the City Manager or their designee to execute all agreements, sign all documents, make
all approvals, and take all actions necessary or appropriate to carry out and implement the intent of
this Resolution, subject to approval as to form by the City Attorney.
City of South San Francisco
File Number: 24-09
Enactment Number: RES 10-2024
E3
At a meeting of the City Council on 1/10/2024, a motion was made by Councilmember Addiego,
seconded by Councilmember Nicolas, that this Resolution be approved. The motion passed.
Yes: 5 Mayor Coleman, Vice Mayor Flores, Councilmember Addiego,
Councilmember Nagales, and Councilmember Nicolas
Attest by l�Y
Rosovea Acosta, City C erk
City of South San Francisco