BOARD AGENDA MEMORANDUM
Government Code ? 84308 Applies: Yes ? No ?
(If "YES" Complete Attachment A - Gov. Code ? 84308)
SUBJECT:
Title
Adopt Recommended Positions on State and Local Ballot Measures: Proposition 1, The Veterans and Affordable Housing Bond Act of 2026; Proposition 43, Limits Voters' Ability to Raise Revenues for Local Government Services; Measure RTM, Connect Bay Area Transit Initiative; and Other Measures Which May Require Urgent Consideration for a Position by the Board.
End
RECOMMENDATION:
Recommendation
A. Adopt a position of "Support" on: Proposition 1, The Veterans and Affordable Housing Bond Act of 2026;
B. Adopt a position of "Oppose" on: Proposition 43, Limits Voters' Ability to Raise Revenues for Local Government Services; and
C. Adopt a position of "Support" on: Measure RTM, Connect Bay Area Transit Initiative.
Body
SUMMARY:
A. Proposition 1, The Veterans and Affordable Housing Bond Act of 2026.
Position Recommendation: Support
Proposition 1 would authorize the state to issue $11.25 billion in general obligation bonds for housing purposes. Of that amount, $10 billion would support a variety of state housing programs and would be repaid by the state General Fund. An additional $1.25 billion would support the state's veterans home loan program and be repaid through payments from participating veterans.
Proposition 1 would allocate bond funding as follows:
Category of Programs
Funding
Affordable Multifamily Housing Programs
$7.2 billion
Veterans Housing Program
$1.25 billion
Homeownership Programs
$1.1 billion
Infrastructure Programs
$500 million
Farmworker Housing Program
$450 million
Higher Education Student Housing Programs
$350 million
Tribal Housing Program
$200 million
Local Pilot Programs
$200 million
Total
$11.25 billion
The $7.2 billion for affordable multifamily housing programs would support the acquisition, construction, and rehabilitation of rental housing for low-income households. These programs generally...
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