This is an archive of a past election.
See http://www.smartvoter.org/ca/sf/ for current information.
LWV League of Women Voters of California Education Fund If you appreciate our service to voters, please consider helping us with a donation.
Smart Voter
San Francisco County, CA November 3, 2015 Election
Measure A
Affordable Housing Bond
City and County of San Francisco

2/3 Approval Required

Pass: 148,513 / 74.26% Yes votes ...... 51,486 / 25.74% No votes

See Also: Index of all Propositions

Information shown below: Summary | Yes/No Meaning |

SAN FRANCISCO AFFORDABLE HOUSING BONDS. To finance the construction, development, acquisition, and preservation of housing affordable to low- and middle-income households through programs that will prioritize vulnerable populations such as San Francisco's working families, veterans, seniors, disabled persons; to assist in the acquisition, rehabilitation, and preservation of affordable rental apartment buildings to prevent the eviction of long-term residents; to repair and reconstruct dilapidated public housing; to fund a middle- income rental program; and to provide for homeownership down payment assistance opportunities for educators and middle-income households; shall the City and County of SanFrancisco issue $310 million in general obligation bonds, subject to independent citizen oversight and regular audits?

Summary Prepared by the Ballot Simplification Committee:
Proposition A is an ordinance that would allow the City to borrow up to $310 million by issuing general obligation bonds. The City would use this money to build, buy, improve, and rehabilitate affordable housing in San Francisco. The City could use the funds to:

  • finance the development, construction, preservation and rehabilitation of affordable rental housing near established transit corridors or within priority development areas;
  • acquire, rehabilitate, and preserve existing rental housing to prevent the loss of rental housing and the displacement of long-time City residents;
  • repair and reconstruct dilapidated public housing or provide infrastructure improvements that allow for the repair or improvement of public housing sites;
  • fund middle-income rental housing units;
  • assist middle-income City residents, including teachers, in purchasing their first home in the City; and
  • acquire, rehabilitate, preserve, construct and/or develop affordable housing in the Mission Area Plan.

Proposition A would allow an increase in the property tax to pay for the bonds, if needed. Landlords would be permitted to pass through up to 50% of any resulting property tax increase to tenants. However, it is City policy to limit the amount of money it borrows. Therefore, because of the retirement of existing debt and the growth of the property tax base, the City does not expect the property tax rate to increase. Proposition A also would require the Citizens' General Obligation Bond Oversight Committee to review the spending of bond funds. One-tenth of one percent (0.1%) of the bond funds would pay for the committee's audit and oversight functions.

Meaning of Voting Yes/No
A YES vote on this measure means:
A "YES" Vote Means: If you vote "yes," you want the City to issue $310 million in general obligation bonds on projects designed to:
  • acquire, build, or renovate affordable housing, including in the Mission Area Plan;
  • rehabilitate or reconstruct public housing;
  • fund middle-income rental housing; and
  • assist middle-income City residents in purchasing their first home in the City.

A NO vote on this measure means:
A "NO" Vote Means: If you vote "no," you do not want the City to issue these bonds.

 
This election is archived. Any links to sources outside of Smart Voter may no longer be active. No further links will be added to this page.
Links to sources outside of Smart Voter are provided for information only and do not imply endorsement.


San Francisco Home Page || Statewide Links || About Smart Voter || Feedback
Created: December 21, 2015 20:37 PST
Smart Voter <http://www.smartvoter.org/>
Copyright © League of Women Voters of California Education Fund   http://cavotes.org
The League of Women Voters neither supports nor opposes candidates for public office or political parties.