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Council declines immediate purchase of below‑market unit offered for employee housing
Summary
Council members decided not to approve a $255,000 purchase of a below‑market-rate condominium that Marin Housing was holding for the town, instead directing staff to pursue other employee‑housing strategies and partnerships.
The Corte Madera Town Council on April 15 reviewed an offer from Marin Housing to purchase a below‑market‑rate (BMR) condominium at 77 Parkview Circle for $255,000 but gave staff clear direction not to proceed with the acquisition at this time.
Amy Lyle, community development director, told the council the unit is a two‑bedroom, one‑bath condominium of about 850 square feet that Marin Housing had bought and was holding while giving the town time to decide whether to acquire it. “This unit came up for sale through that program, and Marin Housing asked us if we would like to purchase the unit,” Lyle said.
The BMR deed restriction includes income and rent limits. The staff presentation stated the occupant would be…
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