The dissolution of redevelopment agencies in California left many cities grasping at straws to hold on to properties that could be used to help squelch the affordable housing crisis. Now, San Mateo is inching closer to leveraging its own land as it considers a range of ideas submitted by 10 interested developers.
The City Council meets in closed session Monday to discuss preliminary proposals for two parcels well-situated near downtown and the Caltrain line that were purchased with former redevelopment agency funds nearly two decades ago.
Affordable housing and parking are top priorities for the growing city, but balancing demands while working within a limited budget is a challenge officials must ultimately face. With that in mind, the council appealed to the development community for ideas as well as how to finance them.