City of San Jose Housing Department
San Jose, California

The San Jose Multifamily Development Program provides gap financing in the form of low-interest loans or grants to affordable housing developers. Eligible projects must remain affordable to low-income tenants for 55 years.

Funding Source
Dedicated funding stream - Real estate transfer tax; Dedicated funding stream - Interest on government accounts
Funding Year
2021
Program Status
Active
Total Funding
$150,000,000
Website
https://www.sanjoseca.gov/your-government/departments-offices/housing/developers/affordable-housing-financing
Contact
Banu San City of San Jose Housing Department [email protected] 408-975-4489
How Provided?
Development loans; Development grants
Data Collected by Program
Income; Race; Ethnicity; Disability status; Age
Program Type
Capital resources
Income Eligibility Threshold
Other income eligibility criteria
Duration
Affordability period is 55 years
Info Source
Program administrator survey response
Last Updated
6/27/23 11:26
Other Eligibility Requirements

Persons experiencing or at risk of homelessness; Victims of domestic violence; Persons with mental illness; Persons with disabilities; Elderly; Youth; Children or youth exiting foster care

Coordinates Eligibility With

Does not coordinate with other systems

Eligibility Limitations

Does not limit eligibility on these criteria

Priority Populations

Extremely low-income households (income less than 30% AMI); Very low-income households (income less than 50% AMI); Persons experiencing homelessness or at risk of homelessness; Victims of domestic violence; Persons with mental illness; Persons with disabilities; Elderly; Youth