Town of Atherton City Council Agenda Packet March 2026
San Mateo County Loans Fund Flood Management Project
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Description
San Mateo County provided two loans to the Town of Atherton totaling $1,515,000 for the Bayfront Canal and Atherton Channel Flood Management and Restoration Project, with repayment through property tax deductions.
Contract Details
Contract Amount
$165,000 (planning/design loan); $1,350,000 (construction loan)
Vendor
SAN MATEO COUNTY
Agency
Town of Atherton, CA
Contract Type
FINANCIAL_SERVICES
Document Date
March 4, 2026
Contract Term
$165,000 loan over 10 years; $1,350,000 over 5 years (began Dec 9, 2022)
Renewal Date
2027-12-09
Renewal Info
Loan terms fixed; repayments ongoing according to schedule. Sublease initiated Dec 2022.
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