The Housing Department’s Asset Management team ensures that the City of San José’s Affordable Housing Projects are compliant with the terms of the loan or grant that was provided by the Housing Department to fund development. Project documentation and tenant income information is also reviewed by staff periodically to ensure that tenant incomes and rents conform to the terms of the City’s affordability restrictions. Click here to access the current income and rent limits.

In addition to ensuring compliance with affordability requirements, the Asset Management team ensures that borrowers of City funds adhere to the repayment terms for the City’s loan assets.

All owners and developers requesting City approvals and consents regarding multifamily projects with existing City financing and/or restrictions, are required to submit the Multifamily Housing Application. These approvals and consents can be related to things like Limited Partnership exits, property ownership transfers, loan restructurings, refinancing, and resyndications with tax exempt bond issuance. For detailed direction, please visit our Affordable Housing Guidelines page.

For questions or information regarding income and rent requirements, property management changes, reserve withdrawal requests or repayment requirements on affordable housing projects funded by the City of San José, please contact the Housing Department at assetsubmissions@sanjoseca.gov.