Livermore's Affordable Homeownership Program Gets $115K For 2020

LIVERMORE, CA — This year $115,000 could go toward Livermore's Affordable Homeownership Program, which offers homes below market rate in new housing developments.

"We're making an effort, we're trying to help people one by one," said Mayor John Marchand during the Jan. 27 city council meeting. "We're trying to lift them up so that they can permanently stay out of homelessness."

Livermore received 570 pre-applications for 12 below market rate homes last year, the city wrote in a report to the Livermore City Council.

In Livermore, single-family developments with at least 11 homes are required to sell at least 15 percent of homes at prices to first-time buyers who earn less than 80 and 120 percent below area media income, the city wrote. Preference goes to people who live or work in the city, and local teachers, emergency responders, veterans and tenants of rent-restricted units.

The council voted to execute a contract of up to $115,000 with Hello Housing at its Monday meeting. Hello Housing has administered Livermore's Below Market Rate and Mortgage Assistance programs since 2016, the city wrote. The $115,000 sum includes a 12 percent contingency.