October 29, 2019 | PRESS RELEASE

Broad Coalition Advocates for Reforms to Create more Market Rate and Affordable Homes

 

FOR IMMEDIATE RELEASE

San José, CA – Members of the media are invited to join The Silicon Valley Organization (The SVO) and our coalition for a press conference regarding an upcoming housing vote by the San Jose City Council. The event will be hosted at the Glass House located at 2 South Market Street, San Jose, CA 95113 on Wednesday October 30, 2019 from 10:30am to 11:00am PST.

On Tuesday November 5, 2019, the Council will vote on Item 4.4 whether or not to modify the City’s Inclusionary Housing Ordinance (IHO). The current ordinance requires residential development, with 20 or more bedrooms, to build 15% of the total project’s units as affordable or pay an in-lieu fee to an affordable housing fund, which the City can later use to fund affordable housing development.

The vote will decide major reforms to the IHO that will improve the development feasibility of both market rate and affordable homes. The City’s proposed IHO amendments are a step in the right direction, but more must be done to ensure that development is actually feasible.

At the press conference, The SVO will discuss our commissioned report from Beacon Economics LLC to provide context for reforms to the IHO. Attached is the executive summary of the report to be embargoed until Wednesday October 30, 2019 at 10:30am PST.

Our press conference will feature the following speakers:

·        Matt Mahood, President and CEO, The SVO

·        Eddie Truong, Director of Government & Community Relations, The SVO

·        Councilmember Lan Diep, City of San Jose – District 4

·        Councilmember Johnny Khamis, City of San Jose – District 10

·        Michele Daughtery, President & CEO, Associated Builders and Contractors, Inc.Northern California Chapter (ABC NorCal)

·        Chrissy Garavaglia, Director of Government Relations, Santa Clara County Association of Realtors (SCCAOR)

·        Anil Babbar, Vice President of Public Affairs, California Apartment Association (CAA)

For any questions, please contact Mason Fong, Director of Public Policy Communications at MasonF@thesvo.com or at (650) 773-8623.

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