The Measure Will Shorten the Time In Processing and Approving Affordable Housing Projects
SAN JOSE, Calif. – February 18. 2021- In the midst of an unprecedented housing crisis due to COVID-19, Silicon Valley Leadership Group has decided to fully support the extension of SB7, a measure that enforces AB900 and speeds up the time in processing and approving housing development projects and guarantees. SB7 also allows for the creation of smaller developments and requires that at least 15% are designated to affordable housing.
Silicon Valley Leadership joined the voices of San Francisco Bay Area Planning and Urban Research Association (SPUR), Silicon Valley at Home, Bay Area Housing Advocacy Coalition, Joint Venture Silicon Valley and Bay Area Council in order to incentivize the business competitiveness in the region and attract a more diverse workforce to the region.
“It is imperative to rebuild our region’s competitiveness and maintain the spirit of innovation that made Silicon Valley the gold standard in the world economy, and the only way to do it is by attracting a strong and diverse workforce to the region,” said Ahmad Thomas, CEO of Silicon Valley Leadership Group. “As the global economy recovers from the financial crisis created by COVID-19, Silicon Valley must recommit to the challenge of creating jobs and providing tax revenue that benefits the region, state, and nation,” he added.
Silicon Valley Leadership Group expects that the State Legislature issues a swift approval of SB7.
About Silicon Valley Leadership Group
The Silicon Valley Leadership Group is a business organization that works with more than 350 of the most dynamic companies in the area. Founded in 1978 by David Packard, of Hewlett-Packard, SVLG is focused on regional economic competitiveness with an emphasis on infrastructure, diversity and inclusion, tax and regulatory policies, and climate change. Collectively, the SVLG members provide nearly one of every three jobs in the private sector in Silicon Valley and contribute to the worldwide economy with more than $3 trillion every year.
Guadalupe Vicon, Vice President of Communications