San Jose's Multifamily Underwriting Policies and Guidelines will be on the agenda for the San Jose City Council meeting on Tuesday, August 28, 2018. Staff claims in its report that the proposed Underwriting Guidelines will establish clear requirements to address risk and project feasibility related to underwriting affordable housing development. The Housing Department will use the Underwriting Guidelines to communicate with developers, borrowers, and other lending institutions regarding the expectations of the City with respect to key project financing, development and operating parameters that constrain affordable housing development. The Underwriting Guidelines will also be used by the department to evaluate projects that are submitted to the City in response to Notices of Funding Availability, when issued. You can read the proposed guidelines here.
