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Council accepts $2.875 million foundation donation and authorizes acquisition for interim housing at 162 Second Street
Summary
The council unanimously accepted a $2,875,000 gift from the Belayco (Balayco) Foundation to fund purchase and modular units for an interim housing project and authorized use of the funds to acquire 162 Second Street with a 50‑year deed restriction for affordable/interim housing.
City Manager Miles Slattery told the council the Belayco Foundation offered a $2,875,000 donation to support purchase of property at 162 Second Street, modular units and site development to create an interim housing/shelter project. Slattery said the foundation’s offer will cover acquisition costs, modular unit purchases and initial development work.
Slattery and staff explained the city has been pursuing the 16 2nd Street site for years; the Betty Quon Chin Foundation previously purchased the property and held it with a first right to sell to the city until funding was secured. Staff said the proposed acquisition would include a 50‑year deed restriction ensuring the property is used for affordable or interim housing.
Council members thanked staff and the foundation; the council voted unanimously to accept the donation and also unanimously approved the staff recommendation to use the funds to acquire the property and to record the long‑term deed restriction.
