A 292-unit apartment building planned for North San José could clear a major financial hurdle — but only if the city agrees to waive more than $5 million in taxes and fees for the developer, and staff say the project almost certainly won’t happen without it.
According to the city council memorandum, San José is preparing to hand Palo Alto-based SummerHill Apartment Communities a $5,130,775 break on the seven-story midrise at 210 Baypointe Parkway in Council District 4. City Council is scheduled to hold a public hearing on the waiver at its August 25 meeting.
What the city is giving up — and what it says it gets back
The proposed incentives come in two pieces.
The largest chunk — about $3.34 million — is a full waiver of the Inclusionary Housing Ordinance in-lieu fee…