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San Jose Considers New Tax to Pay for Affordable Housing

Business groups worry that San Jose could scare away developers if it imposes a fee on new home construction to pay for more affordable housing, an effort to recoup a fraction of the money lost when the state closed all redevelopment agencies. The City Council, which was supposed to talk about the inclusionary housing fee in December, decided to table the discussion until the new year.

Council to Discuss Taxes for Affordable Housing, Medical Marijuana

A proposal for a new construction fee to rake in more money for affordable housing has sharply divided the City Council. Vice Mayor and 2014 mayoral candidate Madison Nguyen and Councilman Don Rocha say San Jose desperately needs another funding source for low-income housing since the state-ordered end of Redevelopment Agencies (RDA). But councilmen Pete Constant and Johnny Khamis strongly disagree. Other issues at Tuesday’s City Council meeting include a public hearing to raise the medical marijuana tax and a fight over a recycling facility near the San Jose Flea Market.

County Assessor Report Notes Resurgence in Housing Prices

Silicon Valley home values saw double-digit appreciation in the past year, outpacing the nation’s rebounding real estate market. Santa Clara County Assessor Larry Stone last week released a detailed breakdown of single-family home and condo prices. The report of prices in 25 South Bay neighborhoods shows growth in single-family home values ranging from 4 to 24 percent, and 13 to 46 percent for condos.

Council Takes on Annual Housing Report, Samsung Incentives

The dissolution of redevelopment agencies and state budget cuts to municipal housing funds have made it tougher for San Jose to meet its goal of building more affordable homes in recent years, according to an annual housing report going before the City Council on Tuesday. Other items on the council agenda include an incentives package for Samsung, a commendation for a police officer who never clocks off and a North San Jose cemetery that is running out of space.