San José City Council Meeting Minutes April 7 2026
$8.4M Loan Approved For MidPen Housing Project
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Description
San José approved a Construction-Permanent Loan commitment of up to $8,400,000 to MidPen Housing Corporation for the VTA Capitol Station affordable housing development. The Housing Director is authorized to negotiate and execute all associated loan documents and amendments.
Contract Details
Contract Amount
Up to $8,400,000
Vendor
MIDPEN HOUSING CORPORATION
Agency
City of San Jose, CA
Contract Type
FINANCIAL_SERVICES
Document Date
April 7, 2026
Renewal Info
Loan terms include provisions for adjusting rents and income restrictions in certain circumstances; full amortization schedule and maturity date are not provided in the minutes.
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