The bond will generate $4 billion for affordable housing programs, infill infrastructure projects and the veterans’ homeownership program. The Legislature placed the bond on the ballot through the passage of League-supported SB 3 (Beall)
If approved by voters in November, the Veterans and Affordable Housing Bond will fund a number of programs
and breathe new life into existing housing programs that have proven, over the years, to be effective. California cities are eager to access much needed affordable housing funding to jumpstart construction.
Programs that would be funded under the bond include:
- Multifamily Housing Program — $1.5 billion
- Transit-Oriented Development Implementation Program — $150 million
- Infill Incentive Grant Program — $300 million
- Joe Serna, Jr. Farmworker Housing Grant Fund — $300 million
- Local Housing Trust Fund Matching Grant Program — $300 million
- CalHome Program — $300 million
- CalVet Home Loan Program —:$1 billion
- Self-Help Housing Fund — $150 million
“The November 2018 Housing Bond is designed to spur investments in local communities, improve neighborhoods and the quality of life for California city residents by providing much-needed funding to increase affordable housing development. California is in the midst of a major housing affordability crisis, and this bond will help create more housing for those who need it most including our veterans, very low- and low-income individuals and families and farmworkers. The League’s support reflects our commitment to policies that begin to address this crisis,” said League President and South San Francisco Council Member Rich Garbarino.
SB 3 was part of the League’s Blueprint for More Housing, which comprised several 2017 bills designed to jump start the development of more affordable housing units through streamlined regulations and new funding sources. These also include SB 2 (Atkins), which is projected to generate millions of dollars annually for affordable housing, emergency shelters and other housing needs and League-sponsored SB 540 (Roth), which streamlines the housing approval process in Workforce Housing Opportunity Zones. Gov. Jerry Brown signed those bills on Sept. 27, 2017 as part of a 15 bill housing package approved by the Legislature.
To help cities navigate the new housing laws that went into effect on Jan. 1, the League prepared a comprehensive compendium that is available at www.cacities.org/2018HousingLaws
How to Support the Housing Bond
Cities and city officials may consider supporting the Housing Bond on the November 2018 statewide ballot. The League has prepared a toolkit cities can use. Items include:
For more information on this measure and others the League has taken a position on, please visit www.cacities.org/2018ballotmeasures