"Some of the proposed changes could prove controversial. If councilmembers agree to extend the incentive program to February 2027, the change could mean forgoing an estimated $6.6 million in waived construction taxes, which help fund key city priorities such as transit programs. Meanwhile, affordable housing advocates have voiced fierce opposition to the proposed changes to the city's inclusionary housing policy, warning they will result in less support for the city's lowest income renters."
""It needs to be understood that this is truly a 911, five-alarm emergency. The lack of housing is really the root cause of many of our challenges," land use consultant Erik Schoennauer told San José Spotlight. "The city council must take every step to make it cheaper, faster and easier to build housing. The industry and the market needs help.""
City Council will consider two measures to spur local housing development: an extension of a large-project incentive program and a revamp of the inclusionary housing requirement. The incentive program cuts the city's construction tax by 50% for qualifying projects and the proposed extension could run to February 2027. Extending the program could forgo an estimated $6.6 million in waived construction taxes that fund city priorities such as transit. Proposed changes to inclusionary housing would reduce market-rate developers' obligations to provide affordable units, prompting fierce opposition from affordable housing advocates who warn of reduced support for lowest-income renters. Housing boosters argue the package offers crucial relief amid rising construction costs and high interest rates, calling the housing shortage an emergency and urging measures to make building cheaper, faster and easier.
Read at San Jose Spotlight
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