Measure E is expected to generate $50 million this year.
San Jose City Hall lies between S. 4th and S. 6th streets on Santa Clara St. in San Jose, Calif., on Tuesday, July 14, 2015. As the San Jose City Council approved the 2024-25 $5.3 billion budget on Tuesday evening, it shifted more than $23 million that was previously allocated to build permanent affordable housing to a tranche to support the city’s unhoused population and fund shelter construction and operations.
“I think we’ve done a really good job at balancing a lot of different community needs including some significant new commitments under our stormwater permit, but also maintaining a commitment to affordable housing, other strategic investments in core focus areas like public safety, cleaning up our city and attracting investments in jobs and housing more broadly,” Mahan said at the meeting.
The diversion of funds that were previously allocated for permanent affordable housing for the second year in row troubled many housing advocates and nonprofits — including Destination: Homeof the funding to build more affordable housing,” Destination: Home CEO Jennifer Loving said in a letter to the mayor and the council. “Now, just four short years later and after multiple shifts of these dollars to other uses, only 25% of the funding remains for affordable housing production.
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