...Title
Multifamily Housing Incentive Program Phase I Extension.
...Recommendations
(a) Adopt a resolution amending the Multifamily Housing Incentive Program to:
(1) Extend the deadline to apply for Multifamily Housing Incentive Program benefits to February 28, 2027, maintaining current eligibility criteria and incentive levels;
(2) Add seven proposed housing projects to the list of eligible projects in the Multifamily Housing Incentive Program;
(3) Increase eligibility for a 50% reduction in the Building and Structure Tax Construction Tax and Commercial, Residential, Mobile Home Park taxes from 1,800 units to 3,600 units that obtain a building permit before February 28, 2027, to accommodate robust developer interest and pipeline demand; and
(4) Create a tiered prioritization system for allocating limited capacity based on a development project’s construction readiness, financing commitments, and first-come, first-served basis for building permit applications.
(b) Approve an ordinance amending Section 4.46.039.13 of Chapter 4.46 and amending Section 4.47.098 of Chapter 4.47 of Title 4 of the San José Municipal Code to provide:
(1) A 50% reduction of the Building and Structure Construction Tax and a 50% reduction of the Commercial, Residential, and Mobile Home Park Construction Tax to the first 3,600 units in projects eligible for the temporary Multifamily Housing Incentive that also obtain a City building permit by February 28, 2027; and
(2) A 25% reduction of the Building and Structure Construction Tax for any additional units beyond the first 3,600 for eligible Multifamily Housing Incentive Program projects.
(c) Adopt a resolution amending the 2025-2026 Schedule of Fees and Charges to revise the Rental Inclusionary In-Lieu Fee Schedule, reducing the fees to $0 for projects eligible for the temporary Multifamily Housing Incentive Program that include at least 5% of units onsite at up to 110% area median income.
CEQA: Not a Project, File No. PP17-008, G...
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