Menlo Park's City Council at its Jan. 12 meeting could approve the purchase of a home in the Belle Haven neighborhood. It would be the first such purchase through the city's $2 million neighborhood stabilization program, designed to counteract a rash of foreclosures.
The home on Hollyburne Avenue would cost $250,000, according to city management. The money would come from the below-market-rate fund, paid into by land developers.
The city plans to carry out $160,000 in repairs using environmentally friendly building practices, before re-selling the home to a person or family on the city's below-market-rate wait list.
The meeting will start at 7 p.m. in the council chambers, located in the Civic Center between Laurel and Alma streets.