Facing a projected $60 million budget deficit, San Jose's Mayor Matt Mahan proposes reallocating Measure E funds towards interim housing for the city's homeless population. This move sparks debate among advocates, with some supporting immediate needs while others urge continued investment in permanent housing solutions.
San Jose 's mayor and city council members faced a pressing issue affecting all three major Bay Area cities: a projected budget shortfall necessitating financial belt tightening. Mayor Matt Mahan highlighted the reality of the situation, stating that the city lacks sufficient funds to meet its financial obligations for the fiscal year 2025-26. He attributed the shortfall to sluggish sales tax receipts, which have declined by approximately 11%, coupled with the persistent effects of inflation.
Professor James Mohs, an accounting lecturer at the University of New Haven, echoed this sentiment, noting the impact of population shifts, economic fluctuations, and rising costs on city budgets.Mayor Mahan proposed a solution to mitigate the projected $60 million deficit. He suggested reallocating a portion of the Measure E funds, a tax levied on property transfers exceeding $2 million, currently dedicated to permanent affordable housing construction and supporting services for the city's 6,340 unhoused residents. His plan aims to redirect these funds towards interim housing to address the immediate needs of the homeless population. He emphasized that this decision rests with the city council and could effectively reduce the deficit by two-thirds.The proposal has generated mixed reactions from advocates for the unhoused. Some support the allocation of additional resources towards immediate needs, arguing that it will save lives and alleviate suffering. Others express concerns that prioritizing interim housing over long-term permanent solutions could leave vulnerable individuals without stable housing options in a city where the average home price escalates to approximately $2 million. Todd Langston, representing Agape Silicon Valley, contends that providing immediate shelter is crucial in the face of a humanitarian crisis. Conversely, Ray Bramson, COO for Destination Home, emphasizes the long-term benefits of affordable housing and cautions against neglecting this essential solution for working families, veterans, and seniors.If the proposed reallocation takes place, the city will still face a $20 million shortfall. Mayor Mahan expresses optimism that this remaining deficit can be addressed through operational efficiencies without resorting to layoffs. However, experts warn that budget cuts will inevitably be required to balance the city's finances.
BUDGET SHORTFALL SAN JOSE MEASURE E HOUSING HOMELESSNESS CITY COUNCIL
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