Proposition 5 will introduce a tsunami of long-termdebt.
Prop 5 will reduce the approval threshold for localaffordable housing and public infrastructure bonds from the current two-thirdsvoter requirement to 55%, making it easier for cities, counties and specialdistricts to pass these measures.
Proposition 5 makes it easier to raise property taxes.
The November ballot measure gets around Proposition 13’s limitations on property tax increases by making it easier for local governments to pass bonds, a method of borrowing money that is then paid back — with interest — by adding extra charges to property tax bills, sometimes for decades.
The $20 billion regional housing bond that was supposed to be on the November ballot would have been a game changer. The money would have paid for 70,000 units of non-market affordable housing, enough to make a dramatic difference in homelessness, housing costs, air quality, and so, so much more. Nolw it’s gone.
Backers pulled a $20 billion affordable housing bond off Bay Area ballots today, amid fears that it wouldn’t pass.
A $20 billion affordable housing bond — which would have been the largest ever of its kind and the subject of a campaign half-a-decade in the making — won’t go before San Francisco Bay Area voters this November after all. This morning, the board of the Bay Area Housing Finance Authority voted to scrap the measure for now, potentially punting the effort until at least 2026.
California’s most unaffordable region is set to vote on a record-breaking affordable housing bond. Will state Democrats add a pro-union requirement to win over a powerful labor coalition?
But before developers, workers, pro-tenant and pro-building activists can start campaigning for the blockbuster borrowing measure in earnest, they’ll need to stop squabbling over who will get hired to build all the new homes and under what conditions.
A group of residents opposed to a $20 billion regional housing bond measure filed a court challenge today to Regional Measure 4’s (RM4) 75- word ballot question. Opponents’ Attorney Jason Bezis sent BAHFA a letter last Friday demanding a series of nine language changes to remove prejudicial language. Opponents assert that the true annual cost of the measure is nearly 36% higher than the amount shown in the ballot question.
The Great Housing Challenge: WHAT MATTERS TO CONSTITUENTS? A 4-part Town Hall Series on Zoom (August-November) Thursday nights, 5:00-6:30 pm Part 4: The Constitution Matters! An LA Court (4/24) found SB9, the Accessory Dwelling Unit (ADU) law, unconstitutional. The ruling could ultimately have a broader impact on the state’s ability to enforce SB 9 and other housing laws in all of California’s 121 charter cities. Presenters: Attorney Pam Lee, Aleshire & Wynder, argued the winning SB9 case. Her colleague, attorney Sunny Soltani (invited), is an expert on how to become a charter city. The California Dream is collapsing into a California Nightmare! Legislators have passed 150 laws since 2017, without increasing the supply of affordable housing. Evidence shows conditions are getting worse. What matters? Affordable housing, of course. And also safety, taxes, elections, and the constitution. SIGN UP FOR THE SERIES TODAY Register Sign up once and re-use your Zoom link throughout the series.
A weekly Zoom call to talk about housing legislation and strategies to preserve local control. Bring your questions and ideas. Informal networking, announcements, and updates. PLEASE NOTE: You have to register in advance the first time to get the new Zoom link. After registering, you will receive a confirmation email containing information about joining the meeting. The Zoom link will work for the rest of the year. REGISTER
A weekly Zoom call to talk about housing legislation and strategies to preserve local control. Bring your questions and ideas. Informal networking, announcements, and updates. PLEASE NOTE: You have to register in advance the first time to get the new Zoom link. After registering, you will receive a confirmation email containing information about joining the meeting. The Zoom link will work for the rest of the year. REGISTER
A weekly Zoom call to talk about housing legislation and strategies to preserve local control. Bring your questions and ideas. Informal networking, announcements, and updates. PLEASE NOTE: You have to register in advance the first time to get the new Zoom link. After registering, you will receive a confirmation email containing information about joining the meeting. The Zoom link will work for the rest of the year. REGISTER
A weekly Zoom call to talk about housing legislation and strategies to preserve local control. Bring your questions and ideas. Informal networking, announcements, and updates. PLEASE NOTE: You have to register in advance the first time to get the new Zoom link. After registering, you will receive a confirmation email containing information about joining the meeting. The Zoom link will work for the rest of the year. REGISTER