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Council asks staff to investigate purchase of 7‑unit property as potential affordable housing option
Summary
Councilors asked staff to evaluate the possible purchase of a seven‑unit property on Pacific Street (asking price reported at $1.8 million) for use as affordable housing and to return with options and due‑diligence findings.
During council communications, a councilor raised a proposal for the city to consider purchasing a seven‑unit property on Pacific Street as a near‑term affordable housing opportunity. The councilor said the property is currently listed with an asking price of about $1.8 million and urged staff to investigate the interior condition, potential remodel costs and management options.
Council members discussed funding sources and noted there is unallocated affordable‑housing money in the current budget; one councilor observed, "There's $2,000,000 unallocated in the current affordable housing," and suggested the city could use available funds to help acquire the property. Council asked staff to perform preliminary due diligence and to return with a staff assessment and possible next steps; members discussed using an experienced property manager or issuing an RFP for a nonprofit operator rather than managing the units directly.
Staff was directed to look at the building, report back on its condition and outline acquisition options and the financial implications before the council considers formal purchase action.
