More homes than jobs?

Development Fee to Fund Homes?

How does this make sense?

This is just some sort of blood offering to the masses that will trickle into some useless prevailing wage project, perhaps building a few hundred SROs for $700K each. But we have to appear to be fighting against the rich, make the billionaires pay!

These fees do one thing, make everything more expensive, and those costs are ALWAYS paid by the customers. Costs run downhill, and whatever services or products that are offered in these buildings will just cost everyone a little bit more.

No meaningful amount of housing will come of this. Anyway there is plenty of incentives to build housing any number of other ways, not least of all LIHTCs. But those don’t get built because of CEQA, UGB, more fees and needless red tape. But we keep dancing this dance, and the poor suffer.

That the city is even considering these fees when employment at 12%+ and the future is a very real issue. Everyone realizes office space may be a thing of the past, right? This is ludicrous. If you make office space too expensive, it will just force companies to maintain work from home operation. That means less lunches out, less sales tax, more amazon deliveries, more billions for Jeff Bezos, and less foot traffic for small businesses.

How is this even a discussion?

Oh yeah this is San Jose and some how this is a labor issue and the unions want it.