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Council approves $1.6M pilot to finance soft‑story seismic retrofits; staff to seek larger federal funding
Summary
Council approved a voluntary pilot that combines low‑interest loans and grants to retrofit soft‑story buildings; the pilot will test delivery with a CDFI partner and consultants, protect tenants from excessive pass‑throughs, and position the city for FEMA funding.
The San Jose City Council on Jan. 27 approved a $1.6 million pilot to support voluntary soft‑story seismic retrofits and related unit preservation work.
Housing staff said the pilot is structured as a limited, voluntary demonstration: packaged low‑interest loans (around 3% over seven years) and grants administered with partner Working Solutions (a CDFI) and Guidehouse for program…
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