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Council approves changes to below‑market-rate rules for 777 West Middlefield teacher housing project
Summary
Mountain View approved increasing the moderate-income eligibility from 120% AMI to 150% AMI and extending the grace period from one year to three for the 777 West Middlefield below‑market‑rate (BMR) building housing Mountain View Whisman School District staff and teachers, after staff said lease‑up of moderate units was low.
The City Council on June 24 approved staff’s recommendation to modify the below‑market‑rate (BMR) terms for the residential building at 777 West Middlefield Road, measures the school district and developer said are needed to increase leasing of units intended primarily for Mountain View‑area teachers and staff.
Wayne Chen, the city’s housing director, explained the project was approved in 2019 with a BMR mitigation arrangement: 20% of the 716 units (144 total) were to be BMR, delivered in a standalone building financed with Mountain View Whisman School District bonds. Of those, 124 units are reserved…
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