City records BMR covenant with Park South 624 LLC

The City of Menlo Park executed a Below Market Rate Housing Agreement and Declaration of Restrictive Covenants with Park South 624, LLC for a six-unit for-sale project at 624 University Drive. The agreement secures one low-income and one very low-income BMR home with 55-year resale and occupancy restrictions and implements related State Density Bonus Law concessions and waivers.

Scope & details

The full contract record, as filed.

Contract type

OTHER

Contract term

Fifty-five (55) years from recordation of the deed conveying title to the initial buyer and each subsequent buyer of the low-income BMR home

Renewal

The master BMR agreement remains in effect until each BMR unit is sold to an eligible buyer and corresponding resale restriction and deed of trust are recorded; each individual BMR resale restriction runs for 55 years from initial sale and renews in effect for subsequent buyers within that term.

Document type

Agenda

Source document

City of Menlo Park Housing Commission Regular Meeting Agenda 2026-06-03

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City of Menlo Park Housing Commission Regular Meeting Agenda 2026-08-05

City of Menlo Park Housing Commission Regular Meeting Agenda 2026-06-03

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the government contract by City of Menlo Park?

Park South 624 Llc was awarded this government contract by City of Menlo Park, as recorded on June 3, 2026.

What type of contract is this?

This is a government contract, documented as a agenda record.

Where was this contract approved?

This contract appears in City of Menlo Park Housing Commission Regular Meeting Agenda 2026-06-03 (Agenda), dated June 3, 2026 from City of Menlo Park. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Park South 624 Llc hold?

Park South 624 Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is City of Menlo Park currently buying?

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