San Jose proposes $1.5M loan to assess troubled affordable-housing portfolio

San Jose plans to provide First Community Housing with a forgivable loan of up to $1.5 million for financial and operational reviews of its affordable-housing portfolio through June 30, 2027. The Housing Department would also negotiate an agreement with the nonprofit to coordinate stabilization efforts. First Community Housing owns and operates city-assisted properties, including Second Street Studios and Curtner Studios, and is experiencing financial, operational and physical challenges. The council is scheduled to consider the proposal on Nov. 10, 2026; no vote is recorded.

Actions Related to First Community Housing Stabilization.

Nov 10, 202626-1154: Actions Related to First Community Housing Stabilization.Source documentPDF