On February 13th, Aaron, Tamon, and I were among the 40+ attendees, including many developers, at the City of San Jose’s inclusionary housing meeting at the Northside Community Center.

David Rosen and Associates (DRA), the consulting team hired by the City of San Jose, presented the pro forma budgets for each of the housing prototypes modeled in the economic analysis of inclusionary housing impacts. Most of the meeting was spent getting feedback from developers on whether or not the budget line items were reasonable assumptions. Some of the key points discussed were:

  • The pro forma budgets should accurately reflect the actual current cost of developing housing
  • The City and the consultants want to make the process and the numbers as transparent as possible.

The developers are encouraged to review the pro forma budgets at: http://www.sjhousing.org/link/whatsnew.html and submit comments to Leah Rothstein at leah@draconsultants.com by February 20th.