REPORT TO THE CITY COUNCIL
FROM: JERRY P. DYER, Mayor
Office of Mayor & City Manager
BY: KELLI FURTADO, Chief of Staff
Office of Mayor & City Manager
SUBJECT
Title
***RESOLUTION – To support Proposition 1 – the Veterans and Affordable Housing Bond Act of 2026 (Subject to Mayor’s Veto)
Body
RECOMMENDATION
Staff recommends that the City Council adopt the resolution to support Proposition 1 – the Veterans and Affordable Housing Bond Act of 2026.
EXECUTIVE SUMMARY
Proposition 1 – the Veterans and Affordable Housing Bond Act of 2026 – is a statewide ballot measure that will appear on the November 3, 2026, general election ballot.
If approved, Proposition 1 – an $11.2 billion bond measure – would dedicate the following:
Multifamily Housing Program: $5.1 billion to fund affordable housing construction across the state.
Veterans Housing: $1.25 billion to help Veterans buy affordable homes through the CalVet Home Loan Program.
Supportive Housing: $1.15 billion to pair homes with services that people experiencing homelessness need to maintain long-term housing stability.
Portfolio Reinvestment Program: $750 million to protect and reinvest in the affordable homes California already has.
CalHome: $600 million to expand homeownership for low-income families for construction, rehabilitation, and homebuyer assistance.
Home Purchase Assistance Fund: $500 million to support first-time and low-income homebuyers.
Infill Infrastructure Grants: $500 million to build or improve roads, utilities, and other basic infrastructure needed for affordable and mixed-income housing in areas that are already developed.
Farmworker housing: $450 million through the Joe Serna, Jr. Farmworker Housing Grant Fund.
Student Housing: $350 million for new affordable housing, split between the University of California and California State University systems.
Tribal Housing: $400 million for local housing trust funds ($200 million) and preserving existing affordable homes ($200 million).
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