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Updates for Developers 

Notice of Funding Availability (NOFA) - Gap financing for new construction of affordable housing:

NOFA application package through Bidsync

San José's Multifamily Underwriting Policies and Guidelines were approved on Tuesday, August 28, 2018, and include the following:

         
- Council Memo
         - Underwriting Guidelines 2018
         - Gap Financing Guidelines Summary 2018

In addition, the Housing Department has developed the City of San Jose Proforma for the analysis and underwriting of affordable housing development.


Thursday, December 14, 2017 - Follow-up Developer Roundtable Meeting:
The Housing Department will host a Developer Roundtable to release its updated draft versions of the:

    * Draft Gap Financing Guidelines Summary - 12/8/17
    * Draft Gap Financing Guidelines Summary (Redlined Version)

    * Draft Underwriting Guidelines - 12/8/17
    * Draft Underwriting Guidelines (Redlined Version)
          - Underwriting Guidelines
          - Operations and Property Management Considerations
          - Developer Fee Policy
          - Ground Lease Policy
          - Operating Expense and Residual Receipts Policy

   * Developer Response Catalog - 12/8/17
    

Future expected commitments: On June 6, 2017, the City Council approved the Affordable Housing Investment Plan which establishes the Department's expected funding priorities through FY 2017-18.  
   
For more information, select the topics along the left toolbar or contact Leif Regvall at 408-535-8232.