San Jose is aiming to get the ball rolling on some new downtown apartment projects with a series of incentives for high-rise developments that receive a building permit and pass a government inspection within a specified timeline.
The City Council has unanimously agreed to waive several fees over the next seven years, including a five-year waiver of all city construction taxes and a 50% reduction in park fees, the Mercury News reported.
In the final two years of the program, construction taxes will be cut in half and park fees will be reduced by 30% for all qualifying downtown apartment tower projects.
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