Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Workforce Housing topic
No spam. Unsubscribe anytime.
HEART negotiating purchase for workforce housing; Board told two agreements will be brought April 22
Summary
Board Member Beverly Gerard said the Housing Endowment and Regional Trust of San Mateo County (HEART) has negotiated a letter of intent to buy a San Mateo building for workforce housing in partnership with the County Office and expects to sign the agreement this week; two agreements outlining the purchase and operations will be brought to the Board on April 22.
Board Member Beverly Gerard reported on the Workforce Housing Subcommittee’s work and said the Housing Endowment and Regional Trust of San Mateo County (HEART) has negotiated a letter of intent to purchase a building in San Mateo for workforce housing in partnership with the County Office. "HEART expects to sign the agreement this week," Gerard said; the Subcommittee reviewed financial projections and how funding could be directed to reduce rents for educators.
Gerard said the plan is to bring two separate agreements to the Board on April 22: one to outline the partnership between HEART and the County Office related to the building purchase, and another to detail operational policies and procedures, including reduced-rent targets and tenant selection processes for certified and classified educators.
