3.
Alternative Financing for Affordable Housing. (Mahan, Campos,
Tordillos, Cohen, and Ortiz)
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 part of the report an analysis of lease-revenue financing,
including but not limited to issuance of certificates of participation, for
funding affordable housing.
[Referred from 4/15/26 - Item C.1 (ROGC 26-156)
D. Open Forum
Members of the Public are invited to speak on any item that does not appear on today’s Agenda and
that is within the subject matter jurisdiction of the Committee.
E. Adjournment
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