Public Hearing to Approve a Multifamily Housing Incentive Program Residential Tax and Fee Waiver for the 0 Seeley Development Building A Development Located at 0 Seely Avenue. - NOT TO BE HEARD BEFORE 1:30 P.M.
HousingCity CouncilAgenda ReadyIntroduced 03 Jun 2025
2Documents on file
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This memorandum discusses the approval of a Multifamily Housing Incentive Program Residential Tax and Fee Waiver for the 0 Seely Building A Development located at 0 Seely Avenue. It recommends conducting a public hearing to approve an economic development tax and fee waiver, which includes a reduction in construction taxes and an Inclusionary Housing Ordinance in-lieu fee waiver totaling up to $6,057,536.80. The development will consist of 1,472 residential units and approximately 18,965 square feet of commercial space, with a focus on affordable housing compliance. The memorandum outlines the tax implications, job creation estimates, and compliance requirements with the city's housing policies.
Key points
The memorandum recommends a public hearing for a tax and fee waiver for the 0 Seely Building A development.
The total fee and tax reduction proposed is $6,057,536.80.
The development will include 1,472 residential units and approximately 18,965 square feet of commercial space.
The project aims to comply with the Inclusionary Housing Ordinance by providing 5% of units as affordable housing.
The memorandum outlines the construction tax rates and the expected job creation from the development.
Limitations
The document includes unresolved placeholders such as the specific date for the public hearing and the final approval process.
The text contains references to external documents and links that are not fully detailed within the extracted text.
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Extracted text preview · 17,859 chars
COUNCIL AGENDA: FILE: ITEM: TO: HONORABLE MAYOR AND CITY COUNCIL SUBJECT: See Below Approved 6/17/25 25-727 8.10 FROM: Erik L. Soliván Chris Burton John Ristow DATE: May 15, 2025 Date: 5/15/2025 COUNCIL DISTRICT: 4 SUBJECT: Approval of a Multifamily Housing Incentive Program Residential Tax and Fee Waiver for the 0 Seely Building A Development Located at 0 Seely Avenue RECOMMENDATION (a) Conduct a public hearing to approve an economic development tax and fee waiver in connection with a reduction in construction taxes and a reduction of the Inclusionary Housing Ordinance in-lieu fee for 0 Seely Building A, which meets the requirements of the Multifamily Housing Incentive Program enacted by the City Council on December 10, 2024 and amended by the City Council on May 13, 2025, in an amount of up to $6,057,536.80 pursuant to California Government Code Section 53083 and Open Government Resolution No. RES2024-99 Section 2.3.2.6.C. (b) Adopt a resolution approving the tax and fee waiver and authorizing the Housing Director, or his designee, to negotiate and execute documents and document amendments related to implementing the Multifamily Housing Incentive Program, such as construction...
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The source text indicates this attachment appears to be a draft document.
This resolution from the City Council of San Jose approves a tax and fee waiver under the Multifamily Housing Incentive Program for the 0 Seely Building A Development. The development will consist of 1,472 residential units and commercial space, with specific components eligible for fee reductions. The resolution authorizes the Housing Director to negotiate and execute related documents. It also confirms that the project must comply with affordable housing requirements before building permits are issued.
Key points
Resolution approves tax and fee waiver for 0 Seely Building A Development.
Development includes 1,472 residential units and approximately 18,965 square feet of commercial space.
Phase 1 consists of 154 market-rate townhomes; Phase 2 includes affordable and market-rate multifamily apartments.
Only Building A is currently considered for the tax and fee waiver.
Fee reduction amount approved is up to $6,057,536.80.
Housing Director is authorized to negotiate and execute documents related to the Multifamily Housing Incentive Program.
Limitations
The resolution appears to be a draft.
Specific dates for adoption and voting results are not provided.
Certain placeholders remain unfilled, such as the adoption date.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 5,781 chars
NVF:CPA:CLS 5/20/2025 RESOLUTION NO. ______________ A RESOLUTION OF THE COUNCIL OF THE CITY OF SAN JOSE APPROVING THE TAX AND FEE WAIVER ESTABLISHED UNDER THE MULTIPLE HOUSING INCENTIVE PROGRAM FOR THE 0 SEELY BUILDING A DEVELOPMENT LOCATED AT 0 SEELY AVENUE AND AUTHORIZING THE HOUSING DIRECTOR, OR HIS DESIGNEE, TO NEGOTIATE AND EXECUTE DOCUMENTS AND DOCUMENT AMENDMENTS RELATED TO IMPLEMENTING THE MULTIFAMILY HOUSING INCENTIVE PROGRAM, SUCH AS CONSTRUCTION PROGRESS AGREEMENTS WHEREAS, on December 10, 2024, the Council of the City of San José (“City”) adopted the Multifamily Housing Incentive Program (“MHIP”) under Resolution No. RES2024420, which provides for specified projects, upon meeting conditions, a reduction of certain fee and tax requirements, including a reduction in the Inclusionary Housing Ordinance In-Lieu Fee, and a 50% reduction to the Commercial, Residential, Mobile Home Park (“CRMP”) and Building Structure (“B&S”) construction taxes (collectively, “Fee Reduction”) for the first 1,500 units that obtain City building permits by December 31, 2025, and a 25% reduction in the B&S tax to subsequent projects that obtain City building permit after the 1,500 units, or on...