Winter 2009
POST Acquires 21-Acre Property in Half Moon Bay
- In October, the City of Half Moon Bay transferred
ownership of a 21-acre property near the junction
of Highways 1 and 92 to POST.
- “POST acquired an option to buy the property
in 2004 in order to assign the option to Half
Moon Bay. Using a $3.1 million interest-free loan
from POST, the city was able to buy the property
that year from Nurserymen’s Exchange for future
use as a community park. Unable to pay back
the loan, the city sought alternative funding
sources. After five years, when none of the alternatives
came to fruition, POST agreed to take title
to the property.
- “We’re disappointed that Half Moon Bay has
not been able to move forward with a community
park on this land,” said POST President Audrey Rust.
“POST took a special interest in seeing this property
protected because it is a key link in connecting the
wild open lands east of Half Moon Bay to downtown
and the coast. We usually focus on rural lands, but
when this property became available, and the city
asked for our help, we knew they needed to act more
quickly than they could alone. In taking title to the
land now, POST can help relieve some financial
pressure on the city. At this time, we’re working to
determine future possibilities for the land.”
Bolsa Beach Walk & Talk . . .
