City Government

Below Market Rate Homeownership for Moderate-Income Households

Published

5 years ago

December 14, 2018

From now until December 28th, families pursuing homeownership are invited to submit pre-applications for four brand new single-family homes in Oakland. These homes feature four bedrooms, three bathrooms, and are priced in the mid-500’s, below market rate. Three of the homes are located in West Oakland and one is located in the Fruitvale area. These homes are built by developer Silvermark Construction Services, which has also been actively involved in the rapid rebuilding of communities burned in the 2017 North Bay fires.
Eligible households must have at least four members and household incomes must not exceed 120% Area Median Income (AMI), based on household size (e.g. no more than $139,450 for a family of four). In addition, eligible homebuyers must be mortgage-ready with at least 3% of the purchase price for a down payment, in addition to closing costs. Down payment assistance funds from the City of Oakland or Alameda County may also be available to qualified households. Applicants will receive preference points if they live or work in Oakland, but all interested eligible households are welcome to apply.
Below Market Rate (BMR) homes are an important tool in our region’s affordable housing toolkit, especially for the “missing middle,” households with incomes too high to qualify for subsidized rental housing but too low to purchase a market rate home. In urban areas such as Oakland, “missing middle” households include educators, first responders, healthcare workers, public employees and transit workers – whom communities depend on to thrive.
Hello Housing President Mardie Oakes believes that affordable housing to all incomes, especially low- and moderate-income working households, is essential for healthy communities. “Some portion of the housing market has to be free from speculation to ensure there’s a place for the people who are supporting the economy to actually live.” According to Oakes, BMR homes balance affordability with the benefits of homeownership. “Owners benefit from a modest rate of appreciation that tracks with changes in their area’s median income. This way, the home remains comparably affordable to the next buyer and the owner benefits from building home equity.”
Interested and eligible homebuyers must submit a pre-application by December 28th to be considered for the lottery. For more information about these new homes and how to apply, visit Hello Housing or call at (415) 930-4112.
For updates about Alameda County’s AC Boost Down Payment Assistance Program, funded by the Measure A1 Affordable Housing Bond, sign up here.
For information about the City of Oakland’s Down Payment Assistance Programs, visit their website or call (510) 238-6201.

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Oakland Post: Week of April 24 – 30, 2024

The printed Weekly Edition of the Oakland Post: Week of April 24 – 30, 2024

Published

2 days ago

April 26, 2024

Oakland Post

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Alameda County

DA Pamela Price Stands by Mom Who Lost Son to Gun Violence in Oakland

Last week, The Post published a photo showing Alameda County District Attorney Pamela Price with Carol Jones, whose son, Patrick DeMarco Scott, was gunned down by an unknown assailant in 2018.

Published

5 days ago

April 22, 2024

Oakland Post

District Attorney Pamela Price with Carol Jones

Publisher’s note: Last week, The Post published a photo showing Alameda County District Attorney Pamela Price with Carol Jones, whose son, Patrick DeMarco Scott, was gunned down by an unknown assailant in 2018. The photo was too small for readers to see where the women were and what they were doing. Here we show Price and Jones as they complete a walk in memory of Scott. For more information and to contribute, please contact Carol Jones at 510-978-5517 at morefoundation.help@gmail.com. Courtesy photo.

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City Government

Vallejo Welcomes Interim City Manager Beverli Marshall

At Tuesday night’s Council meeting, the Vallejo City Council appointed Beverli Marshall as the interim city manager. Her tenure in the City Manager’s Office began today, Wednesday, April 10. Mayor Robert McConnell praised Marshall’s extensive background, noting her “wide breadth of experience in many areas that will assist the City and its citizens in understanding the complexity of the many issues that must be solved” in Vallejo.

Published

5 days ago

April 22, 2024

Oakland Post

Beverli Marshall began her first day with the City on April 10. ICMA image.

Special to The Post

At Tuesday night’s Council meeting, the Vallejo City Council appointed Beverli Marshall as the interim city manager. Her tenure in the City Manager’s Office began today, Wednesday, April 10.

Mayor Robert McConnell praised Marshall’s extensive background, noting her “wide breadth of experience in many areas that will assist the City and its citizens in understanding the complexity of the many issues that must be solved” in Vallejo.

Current City Manager Michael Malone, whose official departure is slated for April 18, expressed his well wishes. “I wish the City of Vallejo and Interim City Manager Marshall all the best in moving forward on the progress we’ve made to improve service to residents.” Malone expressed his hope that the staff and Council will work closely with ICM Marshall to “ensure success and prosperity for the City.”

According to the Vallejo Sun, Malone stepped into the role of interim city manager in 2021 and became permanent in 2022. Previously, Malone served as the city’s water director and decided to retire from city service e at the end of his contract which is April 18.

“I hope the excellent work of City staff will continue for years to come in Vallejo,” he said. “However, recent developments have led me to this decision to announce my retirement.”

When Malone was appointed, Vallejo was awash in scandals involving the housing division and the police department. A third of the city’s jobs went unfilled during most of his tenure, making for a rocky road for getting things done, the Vallejo Sun reported.

At last night’s council meeting, McConnell explained the selection process, highlighting the council’s confidence in achieving positive outcomes through a collaborative effort, and said this afternoon, “The Council is confident that by working closely together, positive results will be obtained.”

While the search for a permanent city manager is ongoing, an announcement is expected in the coming months.

On behalf of the City Council, Mayor McConnell extended gratitude to the staff, citizen groups, and recruitment firm.

“The Council wishes to thank the staff, the citizens’ group, and the recruitment firm for their diligent work and careful consideration for the selection of what is possibly the most important decision a Council can make on behalf of the betterment of our City,” McConnell said.

The Vallejo Sun contributed to this report.