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Board approves resolution to lease SMCOE property; previous lease earned $135,000 monthly
Summary
The Board approved Joint Resolution No. 25‑19 to lease certain San Mateo County Office of Education property after discussing zoning, possible sale restrictions, and prior lease returns; Deputy Superintendent Kevin Bultema said the last lease generated $135,000 per month.
The San Mateo County Board of Education voted March 19 to adopt Joint Resolution No. 25‑19, authorizing the intention to lease certain San Mateo County Office of Education property and to issue a notice inviting bids.
Deputy Superintendent Kevin Bultema told the Board the property’s zoning is likely industrial and that leasing has yielded significant operational revenue in the past — "the last lease generating $135,000 per month," he said. Board Member Mike O’Neill asked whether sale proceeds are restricted to capital uses; Bultema clarified that proceeds from a sale may be limited to capital (buildings) while lease income is considered operational and can be used for any purpose.
Board Member Susan Alvaro described prior analysis and the 7‑11 Committee’s earlier recommendation to lease rather than sell, noting the property is Field Act compliant and could be used as a school if needed. After a motion by Board Member Beverly Gerard and a second by Board Member Susan Alvaro, the resolution passed by roll call vote (six in favor, one absent).
