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Belmont approves transfers and sales for three city‑owned homes, including $1 transfer to nonprofit operator
Summary
The council authorized transferring 730 El Camino Real to nonprofit Kainos for $1 with a 55‑year regulatory agreement, approved moving forward with marketing and sale of the historic Emmett House with deed restrictions and a replacement housing plan, and authorized listing/sale steps for 1000 O'Neil Avenue; votes were unanimous.
Belmont's City Council voted unanimously to carry out recommended dispositions of three city‑owned residential properties, directing staff to complete a below‑market transfer for a group home and to pursue listing or sale of two other properties with deed restrictions and replacement housing plans.
Staff told the council the city owns 730 El Camino Real (an existing group home operated since 1999), 503 Crestview Avenue (an intermediate care facility), and 1000 O'Neil Avenue (a vacant duplex). For 730 El Camino Real staff negotiated a purchase and sale agreement with Kainos to transfer the property for $1; the city would record a regulatory agreement restricting the property to nonprofit ownership and residential supportive living for income‑qualified residents for 55 years. Staff said deferred maintenance at the property is estimated at about $148,000 and the market appraisal is roughly $2,170,000.
Andy Frisch, representing Kainos, thanked the council for the partnership and said residents and staff look forward to maintaining the property for its residents.
For Emmett House (the historic duplex the city moved and converted), staff said deferred maintenance is approximately $209,000 and the appraised value is roughly $2,230,000. Because Emmett House is a designated city historic resource, the city will record deed restrictions to preserve historic character in perpetuity as a condition of sale and adopt a replacement housing plan to offset the two moderate‑income units that would be lost in a market sale. Staff recommended hiring a broker (Ahmed Investments was selected through an RFP) to market the property and manage the sale process; the broker fee is estimated at 2.5% of sales price with closing costs estimated around 6%.
Council members voiced support for the transfers and preservation measures. Councilmember Latta Merlo encouraged staff to use prior historic studies (from when the building was moved in 2011) to identify and call out the character‑defining features in the deed restriction to make expectations clear for future owners.
Council adopted resolutions to: authorize the city manager to negotiate and execute the purchase and sale agreement with Kainos and related regulatory agreement for 730 El Camino Real; adopt a reuse appraisal and replacement housing plan for Emmett House; hire a broker and authorize marketing of 1000 O'Neil Avenue and related sales steps. Each action passed by a 5‑0 roll call.
Staff said proceeds from sales would flow into the city's affordable housing fund to support future projects; the council identified a 125‑unit affordable project (803 Belmont Avenue) as the designated receiving project for replacement housing obligations.
