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Bay Area Affordable Homeownership Alliance

1765 East Bayshore Road, Unit 218

East Palo Alto, CA 94303

$177,353 | 1 Bedroom | 1.5 Bathroom | 950 sq ft per tax records | Monthly HOA: $480


IMPORTANT DATES

Open Houses

Thursday, June 20, 2019, 6:00 PM - 8:00 PM

Saturday, June 22, 2019, 1:00 PM - 3:00 PM


Pre-application Deadline

Friday, June 28, 2019, by 5:00 PM


This unit is available to low-income households, earning

up to 60% of San Mateo County's Area Median Income (AMI)

(see chart above). In order to participate in the lottery process,

households must meet certain eligibility requirements. Below

are the preliminary lottery requirements and preferences.


HOUSEHOLD SIZE REQUIREMENT
For the one-bedroom below market rate condominium, the

total household size must not exceed three (3) people, and

must be either:

  • One (1) adult
  • Two (2) adults
  • Two (2) adults and one (1) child
  • One (1) adult with up to two (2) children


HOUSEHOLD INCOME REQUIREMENT
Household income eligibility is based on household size

(HHS). The total combined gross (before taxes) annual

(yearly) income of the household cannot exceed 60%

of San Mateo County’s area median income (AMI).

FIRST-TIME HOMEBUYER REQUIREMENT
For a household to qualify as a first-time homebuyer

household, no household member may currently own

real property (e.g. land or buildings), or have owned

real property within three (3) years prior to the

application deadline.

CURRENT LOCAL RESIDENT PREFERENCE*
For a household to receive a “current local resident”

preference in the lottery, one (1) or more adult member(s)

of the household must have lived in the City of East Palo

Alto during the period of  (or prior to) November 1, 2018

through April 30, 2019 (or after). A residential lease or a

letter from the landlord during period, or other definitive

source may suffice as documentation.
*This is not a requirement, but a lottery category preference.

CURRENT LOCAL WORKER PREFERENCE*
For a household to receive a “current local worker” preference in the lottery, one (1) or more adult member(s) of the household must have worked an average of ten (10) or more hours per week in the City of East Palo Alto during the period of  (or prior to) November 1, 2018 through April 30, 2019 (or after). Pay stubs, a letter from an employer, or tax-returns showing self-employment will suffice as documentation.
*This is not a requirement, but a lottery category preference.

LOTTERY PROCESS
A lottery will be conducted based on the pre-application submitted by Friday, June 28, 2019. Pre-application eligible applicants (household is first-time homebuyer, and income and household size eligible) will be categorized in one of the following ways:

  • Current local resident preference: Household has at least one “current local resident”
  • Current local worker preference:  Household has at least one “current local worker”
  • Current local resident and worker preference: Household has at least one “current local resident” and “current local worker”
  • No lottery category preferences (basic eligibility)


POST-LOTTERY
To be able to purchase the below market rate condominium, the selected household must also have a combination of down-payment and creditworthiness to qualify financially to purchase the home, and must take an eight (8) hour HUD-certified homebuyer workshop. This supplemental information will be evaluated after the lottery selection, and will not be used to screen pre-applications.
*Details about the lottery and post-lottery process will be provided separately, around the time of the application deadline.

SUBMITTING THE PRE-APPLICATION
Applications can be completed and submitted in the following ways:

  • Online pre-application: The pre-application period has passed
  • E-mail PDF: bmr@myhomegateway.com
  • Fax: (415) 231-5181
  • Mail pre-application:
    • Attn: Program Coordinator
    • 5517 Geary Blvd #206
    • San Francisco, CA 94121

BAAHA is the co-administrator to East Palo Alto's below market rate (BMR) program. For more information about East Palo Alto affordability, visit www.epacando.org.

Pending Purchase...

1765 East Bayshore Road, Unit 218
THIS PROPERTY HAS MET ITS APPLICATION DEADLINE


A one (1) bedroom Below Market Rate (BMR) condo is now available through the City of East Palo Alto's Below Market Rate Program. A qualified buyer will be selected from a lottery pool in July of 2019. A six (6) week application period to join the lottery pool will open on Friday, May 17, 2019 and close on Friday, June 28, 2019.


Households earning at or below 60% of San Mateo County's 2019 Area Median Income (AMI) may be eligible to participate in the lottery to purchase the BMR in East Palo Alto. The chart below shows the maximum income that a household can make, adjusted to the household size. These incomes are gross (before taxes) annual (yearly) incomes.


Open Houses and Lottery Eligibility Requirement Information

East Palo Alto Below Market Rate Program