San Jose Offers New Tax Break To Lure Developers

SAN JOSE (KCBS) – The San Jose City Council approved a temporary tax break Tuesday to encourage more commercial development in the city.

City officials are hoping that a two-year moratorium on construction taxes will win back developers.

“We’re trying to make sure that San Jose captures a fair share of the growth that’s going on in Silicon Valley,” said San Jose Mayor Chuck Reed. “There’s a lot of jobs being created, and a lot of development is underway. We need to improve our competitive position to reduce taxes, reduce fees, reduce regulations and increase staffing so that we can handle the workload.”

KCBS’ Mike Colgan Reports:

The council also voted for an additional break for construction centered in north San Jose.

“We’re looking to reduce the transportation impact fees for about two years to enable some new development, particularly new jobs and companies,” said Councilman Sam Liccardo.

Twenty-one permanent new positions have also been created in a number of departments to help speed up the permitting process.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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