Burlingame! Let's start an affordable housing fund with new city revenue from Top Golf.
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Burlingame will be in a unique position to start an affordable housing fund AT NO COST TO TAXPAYERS. The Council’s recent decision to enter into negotiations with Top Golf for a new entertainment venue at the current Golf Center site will generate significant new revenue... estimates in excess of half a million dollars a year! We urge the City Council to use the revenue to fulfill promises to support and fund affordable housing.
Let’s face it: Our current affordable housing crisis likely is only going to get worse. In fact, a very large commercial development broke ground on the old drive-in site on Bayshore. Soon, we can expect an additional 3,000 to 4,000 new jobs coming to Burlingame. Many of our residents who do not own their own homes—some who have lived here a long time, others who have kids in the schools--already fear being forced to leave town, due to escalating rents and down payments well beyond their reach. And, these new local jobs likely will put even more upward pressure on housing prices, making it even harder for many of those who have already made Burlingame their home stay in our community.
Top Golf will be renting city-owned land, so it is more than fair that the revenue derived from this city resource be used to address one of Burlingame’s most pressing issues. The money can be used to fund an Affordable Housing Fund, similar to Menlo Park’s Below Market Rate Housing Program, which would enable Burlingame to partner with affordable developers and the County to build more units for low- to moderate-income residents.
We believe this City Council should seize this amazing opportunity and direct all the new city revenue from Top Golf to start an affordable housing fund in Burlingame.
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