Posted by Iris
a resident of Menlo Park: Allied Arts/Stanford Park
on Sep 23, 2022 at 7:48 am
Iris is a registered user.

Such a move would have devastating impacts on schools and other public entities as a result of losing property taxes from these properties. In Menlo Park, concerns were raised about just such a move before the huge Stanford project on El Camino was approved. Then the week after the project approval, Stanford declared that all the housing would be used for "academic purposes".

Fast forward: just this week Stanford purchased the even larger Oak Creek Apartment complex. Imagine the impact of losing property taxes on this, too! Stanford has been quietly buying properties in surrounding communities. So the impacts could ripple widely if this bad precedent were to occur.