Skip to main content
San Jose Civic Gallery City Hall agenda intelligence

Matter ROGC 26-156

Alternative Financing for Affordable Housing. (Mahan, Campos, Tordillos, Cohen, and Ortiz)

Housing Joint Meeting for the Rules and Open Government Committee and Committee of the Whole Agenda Ready Introduced 07 Apr 2026
1 Document on file 278 KB · 1 extracted · 1 AI summary
File
ROGC 26-156
Type
Rules Committee Reviews, Recommendations and Approvals
Status
Agenda Ready
Requester
Unknown
Introduced
07 Apr 2026
Last synced
03 Jun 2026 · 08:21

The papers

1 document · 278 KB
01 278 KB

Memorandum from Mahan, Campos, Tordillos, Cohen, and Ortiz

278 KB Extracted AI Summary
file ed8baf69-954e-433d-a3be-fd3208d933d8.pdf sha 6407f1891107 source unavailable

Official source link unavailable. The file was imported, but the current source metadata does not include a public document URL.

Generated summary AI-assisted

This memorandum from Mayor Mahan and Councilmembers Campos, Tordillos, Cohen, and Ortiz addresses the need for alternative financing strategies for affordable housing in San José. It recommends that the City Manager return to the City Council by August 2026 with policy recommendations based on a prior information memorandum from the Housing Department. The recommendations include analyzing the range of affordability levels supported by public-private partnerships, the trade-offs between the number of units and depth of affordability, and the impact on existing housing projects. Additionally, it suggests including an analysis of lease-revenue financing methods, such as certificates of participation, to fund affordable housing. The memorandum highlights the urgent need for innovative housing solutions due to the significant housing cost burdens faced by many San José households.

Key points
  • The memorandum is addressed to the Rules and Open Government Committee.
  • It recommends the City Manager to provide policy recommendations for alternative financing for affordable housing by August 2026.
  • The analysis should include affordability levels, trade-offs in housing production, and impacts on existing projects.
  • It suggests exploring lease-revenue financing options, including certificates of participation, for funding affordable housing.
  • The memorandum emphasizes the urgent need for innovative solutions to address housing cost burdens in San José.
Limitations
  • The document does not specify the exact details of the policy recommendations to be provided by the City Manager.
  • There are unresolved placeholders in the text that may affect the completeness of the summary.

Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.

Extracted text preview · 5,906 chars
RULES COMMITTEE: 4/15/26 ITEM: C.1 TO: RULES AND OPEN GOVERNMENT COMMITTEE FROM: Mayor Mahan Councilmember Campos Councilmember Tordillos Councilmember Cohen Councilmember Ortiz SUBJECT: Alternative Financing for Affordable Housing Approved DATE: April 6, 2026 Date: 4/6/26 RECOMMENDATION Direct the City Manager to: 1. Return to City Council by August 2026 with policy recommendations for Alternative Financing for Affordable Housing Production based on the March 11, 2026, Information Memorandum from the Housing Department, including additional analysis of: a. The range and mix of affordability levels that the public-private partnerships contemplated in the memo may support, including the feasibility of reaching Very Low-Income affordability levels (30% - 50% AMI), as referenced in the memorandum from Councilmember Ortiz dated January 27, 2026; b. The “trade-offs” between total number of units and depth of affordability for the existing City approach to affordable housing production with each of the policy options in the information memo; and c. How these policies may benefit or impact the existing pipeline of affordable and market rate housing projects in San José. 2. Include as...