Corte Madera officials are putting renewed focus on a potential housing program for town employees.

Creating a program is part of the town’s work plan and has been part of an ongoing discussion, according to town staff. An opportunity to buy a condominium revived the topic.

The 852-square-foot, two-bedroom condo at 77 Parkview Circle is owned by the Marin Housing Authority. Town staff have recommended purchasing it for $250,300.

Residences in the development typically sell for around $1 million, Community Development Director Amy Lyle said.

Lyle said staff expressed interest in the apartment in the fall. The Marin Housing Authority is holding the condo until the town reaches a decision.

The Town Council and staff discussed the matter at the council meeting on Tuesday.

Lyle said the program is needed to help with staff recruitment and retention. Twenty-one of the town’s 39 employees live elsewhere, often commuting from Sonoma, Contra Costa or Alameda counties, where housing costs are typically lower.

“It’s very desirable to have a local workforce and be able to offer employees a program like this,” Lyle said. “It’s definitely been a challenge recruiting staff.”

Tiburon owns nine below-market-rate residences as part of an employee housing program. The county is working to build a 135-apartment complex in Larkspur for educators and county workers.

Lyle said an employee housing program has been discussed over the years, but it has needed a “breakthrough” or opportunity to pursue. The condo at Parkview Circle is a starting point, she said.

“Although this would be earmarked for a town employee, it would be also available to public safety, teachers, health care or the community at large,” Lyle said. “We need to make a very fair, transparent process to be able to offer this to a town employee.”

Councilmember James Andrews said he would be more supportive of a program if it were strictly for town and public safety employees.

“The devil’s going to be in the details, and if we aren’t willing to get into the details, then maybe we shouldn’t get into the real estate business,” Andrews said.

Lyle said it would also take an additional $5,000 to $10,000 for costs such as staff time and legal review. The condo would also be subject to a homeowners association fee, but Lyle was unsure about the cost.

“I think the cost to own this property, especially if you add in management, are going to be somewhat substantial, and I’m wondering if any of that gets paid by the homeowner,” Mayor Pat Ravasio said.

Lyle said the maximum rent the town could charge is $4,000 per month, which would take into account some of the costs.

Vice Mayor Rosa Thomas asked what the property taxes on the condo would be, and town staff said they need to look into it.

“I’m just trying to figure out what it’s going to actually cost the town to own it,” Thomas said.

Councilmember Fred Casissa asked whether the staff has the bandwidth to work on the issue. Lyle said creating a program would take time and effort, and the town could potentially pay a holding fee for every month it takes.

“Although as busy as we are and as many things as we have on our work plan, when I talk to staff here they’re excited by the prospect, and I think it’s a beneficial thing for us to be looking into knowing that our teams really want to live here and want these opportunities to be presented,” Lyle said. “So I think there’s a lot of support for creating this type of program from a staff perspective.”

Casissa said he agreed with the concept but needs more financial information to move forward. He wondered how many employees could afford a $4,000 monthly rent, and what other yearly fees the town would be responsible for.

“We need to add in a reserve because I don’t want us to get to the point, if we move forward with this, digging into our general fund to start covering expenses,” Casissa said. “It should be at a break even plus, again, a little bit more to build up the reserve.”

The council directed Lyle to hold the condo for another month or two to research the options and gather more public comments.