http://almanacnews.com/print/story/print/2012/09/26/corrections-in-portola-valley-story


Almanac

News - September 26, 2012

Corrections in Portola Valley story

In the Sept. 19 issue, the Almanac reported on plans by the town of Portola Valley to purchase a property at 900 Portola Road in Portola Valley as a site for affordable housing. The story said the cost of the purchase was $2.6 million for the property plus $400,000 to clean up herbicide residues on the site, a former plant nursery. In fact, the purchase agreement says the cleanup shall not exceed $400,000.

In a related matter, the agreement includes a contingency in which the town first must sell four parcels it owns in the Blue Oaks subdivision, and that the sale price of the Blue Oaks properties should be at least equal to the costs of buying the Portola Road property. The Almanac erred in reporting that the agreement required the town to sell the Blue Oaks parcels for at least $3 million ($2.6 million for the 900 Portola Road property and $400,000 for the cleanup).

According to the agreement, the Town Council can authorize sale of the Blue Oaks properties at a price less than $3 million.

Should the Blue Oaks properties not sell for a sum sufficient to pay for the Portola Road property, including the cost of the cleanup, the town does not plan to use tax revenues but would undertake "a concerted fundraising effort," Town Manager Nick Pegueros told the Almanac in an email.

Comments

Posted by pvresident, a resident of Portola Valley: Central Portola Valley
on Oct 1, 2012 at 11:28 am

So if I understand this correctly, if the town cannot sell the Blue Oaks lots, donated by the original developer per the requirements for BMR housing, the town's citizens are expected to contribute to the fundraising movement? In essence, we would be donating housing to people with solid incomes who can already afford homes - perhaps not in PV, but I suspect they're not exactly living in squalor.
As much as I support the idea of providing BMR housing for our teachers and civil servants, if I want to help people who are struggling to put roofs over their heads, I'll continue to put my charity dollars in organizations like Habitat For Humanity and the Shelter Network.