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Economy

San Jose City Council Studying Housing Crisis

On Tuesday, the San Jose City Council is considering possible strategies for coping with what has become a housing crisis in the city.

Shiloh Ballard with the Silicon Valley Leadership Group says that the state’s elimination of redevelopment agencies had an unintended consequence.

"In essence, we threw the baby out with the bath water," she says,  "because 20 percent of the redevelopment agency revenues were statutorily required to be set aside for affordable housing."

In addition, rents have skyrocketed in the past year. Homeless and low-income people have been hardest hit, but Ballard says the tight market has also made it harder for her group’s member companies to hire and retain personnel.

At a special study session Tuesday morning, the council will be looking to city staff and a variety of stakeholders for creative solutions.
 

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