Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Supervisor Lisa Gauthier, District 4
Supervisor Noelia Corzo, District 2
Subject: Resolution Endorsing Proposition 1, the Veterans and Affordable Housing Bond Act of 2026
RECOMMENDATION:
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Adopt a resolution endorsing Proposition 1, the Veterans and Affordable Housing Bond Act of 2026, which authorizes $11.25 billion in state general obligation bonds for affordable housing programs and the CalVet Home Loan Program.
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BACKGROUND:
Housing costs continue to place significant pressure on California households. Statewide, only 17% of households can afford the median-priced home. More than half of renters are considered rent burdened, including 65% of low-income renters, meaning housing costs consume more than 30% of household income.
Proposition 1 was placed on the November 2026 ballot through SB 417 (Limón, 2026), following an agreement among the Legislature and Governor on a statewide housing bond. The County supported an earlier version of the housing bond proposal during the 2026 legislative session.
Counties may adopt a position on the merits of a ballot measure, or proposed measure, so long as it does not use public funds or other resources to mount a campaign supporting or opposing the measure. (Vargas v. City of Salinas (2009) 46 Cal.4th 1, 36; see also League of Women Voters of California v. Countywide Criminal Justice Coordination Committee (1988) 203 Cal.App.3d 529 (authorizing endorsement of a statewide measure at a public meeting).
DISCUSSION:
If approved by statewide voters, Proposition 1 would allow the state to sell $11.25 billion in general obligation bonds for housing purposes. Of the total bond amount, $10 billion would be directed toward state programs that help finance affordable rental housing, supportive housing, affordable homeownership, housing preservation, infrastructure, farmworker and tribal housing, and afforda...
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