HMB: List of real estate assets, mapped

Should Half Moon Bay sell some of its real estate?

We’ve been debating for years about Beechwood and how it might be paid for. Now that Half Moon Bay has sold bonds for $16.5 million to pay the debt and has made major cuts in operations in order to reduce expenses the question becomes less one of speculation and more one of practicality. How to pay for it?

Half Moon Bay’s budget, even slimmed down, leaves only a small buffer of funds after paying the yearly bond payment. And that buffer is based upon a projected 13% rise in the hotel tax–a projection that it appears to have fallen well short of obtaining. (HMB’s fiscal year closed at the end of June and there is a report that actual budget figures saw “only” a 5.6% rise–a good performance during this recession but not as bountiful as predicted.)

Readers of the local Internet news sites will have seen the suggestion that Half Moon Bay sell some of its real estate assets. The idea is that by selling some of these assets for development Half Moon Bay might greatly reduce the budget drain caused by the bond payments. Here, for example, is a discussion I started on TalkAbout regarding how to pay the Beachwood bill and the responses that followed.

To better understand what money might potentially come from selling this real estate George Muteff obtained from City Hall a copy of a presentation given by staffers on just that subject at an earlier City Council meeting.

The parcels are listed on the maps in the presentation. Some are identified by name (e.g. Mac Dutra Park) while others are identified by parcel number.

You can download a pdf of the presentation here.

It is these numbered parcels that have intrigued many people. Where are they? What are they worth?

To shed light on this mystery I have prepared a list of the numbered parcels with links to Google Maps showing the area of the parcel. I have centered the map on the parcel as best as I can judge. Open the presentation, click on the list and you can compare the Google Map with the presentation map.

I also modified the pdf so that you can click on the outlines of each of the numbered properties (click on the property outline, not the text box). Doing so should take you automatically to the associated Google Map.

After studying the maps I have my own views on the potential value of these parcels but I will leave those thoughts until later so that readers can review the data on their own.

Thanks again to George Muteff for obtaining the presentation and sharing it with me.

Numbered Parcels

048-091-020
15’x15′
Tiny lot, appears to be located between two other lots.

048-134-110
35’x105′
Appears to be located in plowed field.

048-166-030 & 048-166-030
25’x100′
Located in undeveloped area.

048-363-010 &
048-365-010

30’x408′ & 30’x100′
Treed divide from Spindrift development and Highway One.

048-270-070
5 Acres
Located in undeveloped area.

056-045-100
50’x150′

056-210-360
Approx. 1 Acre
Appears to be the vacant lot west of Seacrest

064-151-070 &
064-151-080

1.267 Acres & 2.6 Acres
Popular Beach parking area and adjacent lot

065-011-060
0.07 Acres
Odd, triangular lot in Wavecrest area

065-034-020
50’x100′
Lot in south Wavecrest

065-132-120 &
065-153-090

30’x110 & 25′ & 100′
Located in undeveloped area

065-186-030
25’x100′
Located in undeveloped area

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