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7. Resale Provisions <br /> <br />The program can be structured to capture all the equity increase for the program, so that the <br />price of each unit is affordable to subsequent purchasers without any further subsidy from <br />the Agency. <br /> <br />The Board agreed that imposing resale restrictions will minimize future infusions of <br />public subsidy to maintain the affordability of the units, thus ensuring that the units <br />remain in the program for the longest feasible time. <br /> <br />8. Responsibility for Marketing <br /> <br />Staff recommends that the initial and subsequent marketing of these units be handled under <br />contract by some entity, not by Agency staff. This might be County staff, or, as in the City <br />of San Mateo, the marketing might be handled by a real estate broker. <br /> <br />The Board expressed concern regarding in-house operation of this function. The Plan <br />includes third party administrators for the screening and qualifying applicants for loans <br />as well as for the resale of the units. <br /> <br /> <br />