Mayor Liccardo and Council Allies Give Nine Developers $67 Million Subsidy to Build Luxury High Rises
Tuesday night San Jose Mayor Sam Liccardo and a bare City Council majority voted to give nine developers a $67 million subsidy for the sole purpose of increasing the developers’ profits. An independent study commissioned by the City showed that downtown high rises are profitable, but not at the level of return desired by the nine developers. In accordance with…