EXCLUSIVE — As school districts build subsidized teacher housing to combat shortages, one Silicon Valley-area district has developed a 'road map' to expand projects nationwide.
EXCLUSIVE — As school districts build subsidized teacher housing to combat shortages, one Silicon Valley-area district has developed a"road map" to expand projects nationwide.
Rudolph explained how home ownership helped his own family when his grandfather died when his father was 13 years old, but owning a home allowed stability for his grandmother to raise her nine children and live the rest of her life only paying property taxes. "These high costs, combined with long commutes, cramped living with many roommates, and high cost-of-living expenses, create an environment where it is difficult to retain teachers," Rudolph said."One teacher lived with four roommates in a home where the living room had to be converted into a bedroom to accommodate everyone. The uncomfortable living conditions can often drive good teachers away from our community, and we wanted to change that.
Funding was secured through multiple means, but the primary one was a 2020 $259 million bond measure, Measure T, put up for a vote in the community, securing $88 million dedicated to the project. The city also gave $3 million to the project, with an additional $13 million from the developer. All told, the project will cost $122 million and includes the 55-year $1.9 million land lease, which escalates 3% year over year and will be covered through rent.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stanford scandals stain Silicon Valley’s favorite universityThe school steeped in wealth and prestige is looking for a new president at a time of multiple challenges.
Read more »
Biden plays blue-collar Joe on picket line before Silicon Valley fundraiserPresident Biden tried to burnish his blue-collar image Tuesday by standing on the picket line with striking United Auto Workers in Michigan — for all of 12 minutes — before hopping back…
Read more »
“There’s been a bunch of leaks about first party silicon,”says Microsoft CTO Kevin Scott. So is he confirming that Microsoft is developing AI chips with AMD? “I’m not confirming anything,” he adds. But it sure sounds like something is in the works. “We’re doing a bunch of interesting work with [AMD CEO Lisa Su], and I think they’re making increasingly compelling GPU offerings,” Scott says. “I think they are gonna become more and more important in the marketplace in the coming years.”
Read more »
'Entrepreneurial capital of the world': Silicon Slopes set to launch summit in Salt Lake CityUtah tech sector outreach and education group Silicon Slopes is geared up and ready to host over 10,000 attendees at its eighth Silicon Slopes Summit at the Delta Center this week with a dynamic agenda featuring local, national and international speakers.
Read more »
Silicon Valley tech giants HP and Hewlett Packard Enterprise agree to pay $18 million over age-bias claimsLawsuit claimed former CEO led purge of older workers.
Read more »