I don't like to see jets singled out for special treatment in any case. But, I think we need to think objectively about a potential site for a jet event, even if it gives you an answer you weren't looking for.
On the other hand, if residential housing is this close:
Our only restriction is off the east end of the runway approx 1000-1100 ft is a no fly zone due to residential housing.
I personally would simply rule out the use of your field for a jet event. I have been to many jet rallies, and conducted two of my own, and one thing I always observe is pilots who fly out to near the limit of their vision! The last thing you, as a jet pilot, need is to have flight after flight going over those houses and causing the rest of the club trouble. It is extremely difficult to police all of the pilots, all of the time, during a jet event in order to prevent overflights.
On another note, I don't think there are very many pilots flying turbines who are going to "dumb thumb" their jets into the ground, potentially in the residential area or an area of heightened fire hazard. But, we have to be realistic. Crashes do occur and they are almost never at places of our choosing. Whether it be radio failure, midair, structural failure, or whatever else, a crash is still a crash and you don't need the added risk of overflying that residential area.