1 From: Robert Whitehair
Sent: Monday, October 5, 2026 11:48 AM
To: City Council (San Mateo); Alex Khojikian
Cc: Pam Rittelmeyer
Subject: Agenda Item 13 - Providing documentation of Tax Credit Financing Dear Mayor, City Council, and City Manager
Agenda Item 13 tonight is important. Construction of the contemplated project will provide much needed housing for all San Mateo Residents, especially seniors like me.
My concerns are these
1. If the Council does approve the alternative, what guarantee is there that the second phase of the project, for seniors, that is, the alternative, will ever be built?
2. Has JemCor, the developer, provided documentation, or will it provide such documentation, that it has sought approval of private, federal, or state sources, for tax exempt bonds? These processes are as you know, quite complicated and lengthy. What has JemCor done so far? This is the pertinent section of the staff report that causes me concern:
While the Project will not be funded with “public” funding (no City or County funds will be requested), it will utilize private activity tax-exempt bonds and federal (and also potentially state) low-income housing tax credits. The Applicant is a prominent developer of 100% affordable housing in the Bay Area. It is eminently qualified to develop Building B using this capital structure.
Thank you
Robert Whitehair
Vice President
Borel Neighborhood Association