Downtown Project – Choose between 2 developers this Mon, April 16th

Background: The City owns two properties in Downtown San Mateo, 480 E. 4th Avenue and 400 E. 5th Avenue, which were originally purchased by the City of San Mateo Redevelopment Agency. The sites are currently surface public parking lots and jointly contain 235 parking spaces. The 400 E. 5th Avenue site also houses the Worker Resource Center. As part of the redevelopment dissolution process, the State approved the transfer of the sites to the City in March 2015 with the requirement that the City use these sites for development. As a result, the City is required to seek development proposals for the sites and to enter into a compensation agreement with the other taxing entities in San Mateo County to distribute the proceeds from the disposition of the sites (be it land sale proceeds or ground lease revenues). (Reference: Downtown Opportunity Site RFP)

Community Input Requested: On Monday, April 16th, the San Mateo City Council will decide between two developers that were selected by Staff: MidPen Housing and Raintree Investments. Please review the Administrative Report with Staff Recommendation and related RFP and materials. Contact the City Council to share your input by Monday, April 16th!

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