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Gilroy outlines pilot preservation of below‑market‑rate home, program administrator RFP to follow
Summary
City staff reported the successful purchase, repair and resale of a below‑market‑rate (BMR) senior home under a pilot preservation program (purchase April 2025; resale escrow closed Jan. 12, 2026), described the larger BMR portfolio and administrative challenges, and said the city will issue an RFP for a BMR program administrator before the current contract ends June 30, 2026.
City staff updated the council on the pilot below‑market‑rate (BMR) preservation program and the broader BMR housing portfolio, describing a completed pilot transaction and ongoing administrative challenges.
The pilot, approved March 2025, used short-term loan funding from the Santa Clara County Office of Supportive Housing to allow the city to exercise a purchase option when a low-income deed-restricted senior home became available in April 2025.…
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