Last week, Foster City Mayor Pam Frisella and her fellow council members voted unanimously to dedicate 100 percent of the city’s unencumbered funds that return from the dissolution of redevelopment agencies, back into housing. Those funds will help to build multi-family rental housing that serves low and moderate-income members of our community.
Housing Leadership Council of San Mateo County applauds the mayor and City Council for their vision and leadership. We commend the city for sending a letter from the council to the San Mateo County Board of Supervisors requesting its commitment to re-dedicate returned low- and moderate-income housing funds from dissolved redevelopment agencies towards affordable housing development as well. The letter suggests that such funds should be used for housing, particularly in those communities where those revenues were generated.
Foster City serves as a model for each of the 63 taxing entities that will receive a portion of the funds generated by the loss of RDAs, which provided a critical local housing development tool. Previously, it was a matter of law that these funds be allocated toward affordable housing. Now, it is a matter of wisdom and choice.
The letter writer is the executive director of the Housing Leadership Council of San Mateo County.