In November of 2019, a revised vision was unveiled for the publicly owned land at the north end of Burlingame, a parcel of 6.42 acres under the jurisdiction of the Peninsula Health Care District. Clearly the new plan has moved the needle in the direction of the public good. But there is still a lot more that can be done to achieve the utmost public good.

The initial proposal was for a senior community that included 375 apartments, 90% at market rate and 10% minimally discounted. The new proposal includes a total of 477 senior apartments, with 39 percent affordable at lower-income levels.

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(2) comments

Christopher Conway

This is a good argument that I hope can be dealt with locally. Keep Sacramento out of our cities

Dirk van Ulden

Cindy - why not have the PHCD deed the property to a non-profit organization that develops the housing using tax-exempt revenue bonds. The revenue would come from the rental agreements with the tenants which covers the debt service on the bond and can result in lower than normal effective housing cost. This financing structure is used in Northern Europe for housing and we used it for financing the energy efficiency program at the University of California when I worked there. The energy savings (cost avoidance) paid for the debt service. This should be a win-win for all.

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