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).
• Local Pilot Programs: $200 million available to cities, counties, and certain other entities for pilot projects aimed at developing housing at reduced costs.
BACKGROUND
The City Attorney’s Office has reviewed and approved as to form.
ENVIRONMENTAL FINDINGS
Pursuant to California Environmental Quality Act (CEQA) Guidelines Section 15378, this item is not a project for purposes of CEQA.
LOCAL PREFERENCE
Local preference was not considered because this item does not include a bid for or award of a construction or services contract.
FISCAL IMPACT
Not applicable.
Attachment: Resolution