https://www.siliconvalley.com/2023/07/27/did-san-jose-give-a-26-million-bail-out-to-a-struggling-affordable-housing-developer/

Since late last year, San Jose has authorized funneling more than $26 million to one of the city’s largest developers and managers of affordable housing in an effort to shore up its finances, even as local officials raised concern about the nonprofit’s “long-term sustainability,” city records show.

First Community Housing, which owns and operates about 16 properties in San Jose, is a crucial player in the city’s push to alleviate its deepening housing crisis. In total, the city has invested at least $87 million to help the nonprofit build more than 1,900 affordable apartments.