Menlo Park decides to sell below-market-rate house | June 19, 2013 | Almanac | Almanac Online |

Almanac

News - June 19, 2013

Menlo Park decides to sell below-market-rate house

by Sandy Brundage

In March, when the Menlo Park council last discussed the below-market-rate house at 25 Riordan Place, members worried about what condition the property would be in once the city finished buying it back from the two owners, who had illegally taken out more than $1 million in loans against the property before defaulting on payments. Reclaiming the house cost Menlo Park an estimated $527,500 after a four-year legal battle.

This story contains 430 words.

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