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 the 6-5 vote, the City will waive fees that support affordable housing and transportation improvements and requirements that good quality local jobs be provided on the development sites. The Council Members joining the Mayor in the $67 million giveaway were Johnny Khamis, Pam Foley, Dev Davis, Lan Diep and Chappie Jones.
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