News


Portola Valley: Blues Oaks & affordable housing

Portola Valley's Town Council has lowered its asking price for four parcels the town is selling in the Blue Oaks subdivision. The council plans to use the proceeds to buy a 1.68-acre property for eight to 12 small homes for people of moderate incomes who live or work in town.

The new asking price for the Blue Oaks parcels is $2.8 million, down from the original $3 million, Town Attorney Sandy Sloan at the Sept. 26 Town Council meeting. The council, acting on the advice of real estate listing agents, approved the lower price by a unanimous vote in closed session.

The town needs up to $3 million to buy the former plant nursery site at 900 Portola Road $2.6 million for the property and up to $400,000 to clean up herbicide residues in the ground.

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

Comments

There are no comments yet. Please share yours below.

Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: * Not sure?

Choose a category: *

Since this is the first comment on this story a new topic will also be started in Town Square! Please choose a category that best describes this story.

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

Scott’s Seafood Mountain View to close, reopen as new concept
By Elena Kadvany | 13 comments | 4,023 views

When Grandparents Visit
By Cheryl Bac | 4 comments | 711 views

Freshman Blues Don't Mean Wrong College
By John Raftrey and Lori McCormick | 0 comments | 628 views

Having A Hard Time Getting Your Child To Dive Into Their Summer Reading? Take A Trip To Bookopolis…
By Erin Glanville | 0 comments | 596 views

Background and Ideas for the Comp Plan
By Steve Levy | 7 comments | 494 views