General Below Market Rate (BMR) Information


Open Waitlist Period

One Hundred Grand has thirty-three (33) BMR units at the very low, low, and moderate income levels. At this time, there is one (1) 2 Bedroom BMR home available at One Hundred Grand. Applications are processed in Waitlist preference order until the unit has been filled. The remaining applicants will be transferred in current order to the Waitlist for future vacancies.

Disclaimer: Rents and income guidelines are subject to change per regulatory schedule and annual recertification. All BMR units are subject to monitoring and other restrictions by the city of Foster City.
For more information, contact 650-350-1099 or email us at 100grandbmr@greystar.com

Application Instructions

Waitlist applications are available starting June 10, 2020 and ending August 10, 2020. Applications must be returned no later than August 10, 2020 at 5:00PM. Postmarks will not be considered.
Applications must be submitted via email or mail. Due to COVID-19, in-person visits and application drop off will not be accepted.

Electronic Applications:

Applications may be downloaded from link above. Applications must be emailed to 100grandbmr@greystar.com no later than August 10, 2020 by 5PM.

Paper Applications:

Applications may be downloaded and printed from link above. Alternatively, call 650-350-1099 to request a paper application to be returned via mail to 100 Grand Lane, Suite A, Foster City, CA 94404.
One Hundred Grand Leasing Office
100 Grand Lane, Suite A
Foster City, CA 94404

Rent

Households must have a minimum monthly income of two times the rent.
2 Bedroom $2,946 monthly rent

Income Limits

Households must earn no more than 2020 San Mateo County Area Median Income (AMI) limits below:

Household Size 1 Person 2 Persons 3 Persons 4 Persons 5 Persons
50% AMI Maximum annual income 60,900 69,600 78,300 87,000 94,000
80% AMI Maximum annual income 97,600 111,550 125,500 139,400 150,600
120% AMI Maximum annual income 120,200 137,350 154,550 171,700 185,450

Waitlist Preferences

Waitlist preferences are in tiered order and subject to change by the City of Foster City. Currently, the highest preference is Tier 1a and the lowest preference is Tier 6. Select the highest preference applicable to your household, and applicants cannot select multiple preferences.

Tier 1a:
Persons who are living in a Below Market Rate deed restricted unit in Foster City for a minimum of twelve (12) months that is subject to termination of affordability restrictions within three (3) years

Tier 1b:
Persons who live and work in Foster City

Tier 2:
Persons who live in Foster City

Tier 3:
Employees of the City of Foster City

Tier 4:
Classroom teachers who are employees of the San Mateo-Foster City School District, the San Mateo Union High School District and the San Mateo County Community College District

Tier 5:
Persons who work in Foster City

Tier 6:
All others who are income qualified.


Required Documentation Due After Waitlist Application :

Applications are processed in Waitlist preference order. After your household is contacted to begin file processing, the following documentation is due for each household member who is 18 years old or older. Required documentation including, but not limited to:

Income
If you work and receive paystubs, submit:

  • Copies of 3 months current and consecutive pay stubs
  • If hired recently, provide Employment Offer Letter.

If you are Self-Employed, you must:

  • Complete a Self-Employed Declaration form
  • Submit Year-to-Date Profit and Loss statement
  • Submit most recent Federal Income Tax Returns. Include all Schedules, attachments, and W2(s)
  • Submit Non-Filing Verification from IRS (if applicable)

If receiving severance pay, Social Security, unemployment benefits (EDD), retirement/ Pension income, disability, public assistance, etc., submit:

  • Most recent benefits letter(s) stating your monthly award

If you are Unemployed and have ZERO income, you must:

  • Complete an Unemployment Declaration form
  • Complete a Certificate of Zero Income form
  •  

Assets

  • Six (6) consecutive and most recent statements for Checking accounts and include ALL pages.
  • One (1) most recent statement for all other assets (IE: Savings, 401K, Money Market, etc.) and include ALL pages.
  • A written and signed explanation with supporting documentation for any deposit over $100 other than that of your documented employment.

Building Documents