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November 8, 2016 — California General Election
Ballot and voting information for Alameda County.
This is an archive of a past election.

Affordable Housing Bond

County
November 8, 2016California General Election

Alameda County
Measure A1 - 2/3 Approval Required

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Election Results

Passed

456,705 votes yes (73.3%)

166,320 votes no (26.7%)

  • 100% of precincts reporting (1,156/1,156).

To provide affordable local housing and prevent displacement of vulnerable populations, including low- and moderate-income households, veterans, seniors, and persons with disabilities; provide supportive housing for homeless people countywide; and help low- and middle-income households purchase homes and stay in their communities; shall the County of Alameda issue up to $580 million in general obligation bonds to acquire or improve real property, subject to independent citizen oversight and regular audits?

Impartial analysis / Proposal

 Measure A1, a County of Alameda (“County”) bond measure, seeks voter approval to authorize the County to issue and sell up to $580 million in general obligation bonds at an interest rate not to exceed 12% per annum. The purpose of the bonds is to provide for the acquisition or improvement of real property for local housing as specified in the measure.

Pursuant to California Constitution Section 1 of Article XIIIA, this measure will become effective upon the affirmative vote of at least two-thirds of the qualified electors voting on this measure. Proceeds from the sale of the bonds may only be used as outlined in the measure.  This measure provides that its proceeds will be used to acquire or improve real property to provide up to 8,500 units of affordable local rental housing and housing for the homeless. Proceeds from the sale of the bonds will also help low and middle-income households to purchase homes.

 If two-thirds of those who vote on the measure vote “yes”, the County will be authorized to issue bonds in the amount noted above. Approval of this measure will authorize a levy on the assessed value of taxable property within the County by an amount needed to pay the principal and interest on these bonds in each year that the bonds are outstanding. 

 The Tax Rate Statement for this measure in this sample ballot pamphlet reflects the County ’s best estimates, based upon currently available data and projections, of the property tax rates required to service the bonds.  The County expects to issue the bonds in three series. The best estimate of the tax rate required to be levied to fund the bonds during the first fiscal year after the sale of the first series of bonds is $0.0125 per $100 ($12.50 per $100,000) of assessed valuation in FY 2017-2018.  The best estimate of the tax rate required to be levied to fund the bonds during the first fiscal year after the sale of the last series of bonds is $0.0138 per $100 ($13.80 per $100,000) of assessed valuation in FY 2021-2022.

 The best estimate of the highest tax rate required to be levied to fund the bonds is $0.013 9 per $100 ($13.90 per $100,000) of assessed valuation in FY 2023-2024. The best estimate of total debt service, including principal and interest, if all the bonds are issued and sold is $953,194,950.

 An independent citizens’ oversight committee will ensure that the bond proceeds are expended only as allowed by the measure. The County will file a report that indicates the amount of funds collected and expended and the status of any projects authorized by the measure.

 If two-thirds of those voting on this measure do not vote for approval, the measure will fail and the County will not be authorized to issue the bonds.

 This measure is placed on the ballot by the governing board of the County. 

s/ DONNA R. ZIEGLER

County Counsel

  

The above statement is an impartial analysis of Measure A1. If you desire an additional copy of the measure, please call the Elections Official's office at (510) 272-6933 and a copy will be mailed at no cost to you.

You may also access the full text of the measure on the Alameda County website at the following address: www.acgov.org/rov/.

Tax rate

An election will be held in the County of Alameda, State of California (the “County”) on November 8, 2016, to authorize the sale of not to exceed $580 million in general obligation bonds of the County to mitigate the housing crisis by providing affordable housing to low - and middle - income families. If the bonds are approved, the County expects to sell the bonds in three (3) series over time. Principal and interest on the bonds will be payable from the proceeds of taxes levied made upon the taxable property in the County. The following information is provided in compliance with Section 9400 - 9404 of the Elections Code of the State of California.

 1. The best estimate of the tax which would b e required to be levied to fund this bond issue during the first fiscal year after the sale of the first series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is $0.0125 per $100 ($12.50 per $100,000) of assessed valuation in fiscal year 2017/18.

 2. The best estimate of the tax which would be required to be levied to fund this bond issue during the first fiscal year after the sale of the last series of bonds, based on estimated assessed valuations available at the time of filing of this statement, is $0.0138 per $100 ($13.80 per $100,000) of assessed valuation in fiscal year 2021/22.

 3. The best estimate of the highest tax rate which would be required to be levied to fund this bond issue, based on estimated assessed valuations available at the time of filing of this statement, is $0.0139 per $100 ($13.90 per $100,000) of assessed valuation in fiscal year 2023/24.

 4. The best estimate of the total debt service, including the principal and interest, that would be required to be repaid if all of the bonds are issued and sold is $953,194,950.

 5. The best estimate of the average annual tax rate which would be required to be levied to fund the bond issue over the entire life of the bond debt service, based on estimated assessed valuations available at the time of filing of this statement, is $0.0116 per $100 ($11.60 per $100,000) of assessed valuation. The final fiscal year in which a tax is anticipated to be collected is 2040/41.

 Attention of all voters is directed to the fact that the foregoing information is based upon the County’s projections and estimates only, which are not binding upon the County. The estimates provided herein do not account for the taxes levied to pay for bonds issued by the County pursuant to prior voted authorizations. The actual tax rates and the years in which they will apply may vary from those presently estimated, due to variations from these estimates in the timing of bond sales, the amount of bonds sold at any given sale, market interest rates at the time of each bond sale, the credit quality of the County at the time each issue is sold, and actual assessed valuations over the term of repayment of the bonds among other factors. The actual dates of sale of said bonds and the amount sold at an y given time will be governed by the needs of the County and other factors. The actual interest rates at which the bonds will be sold will depend on the bond market at the time of each sale. Actual future assessed valuation will depend upon the amount an d value of taxable property within the County as determined in the annual assessment and the equalization process.

— Steve Manning, Auditor/Controller County of Alameda

Arguments FOR

 Everyone deserves to have a safe, affordable place to call home. Voting YES on Measure A1 will help ensure that all residents of Alameda County can afford to live, work, and stay here for generations to come.  

We are experiencing a housing crisis in Alameda County. Many working families spend more than half their income on housing, and more are being priced out of the area or even onto the street. Experts estimate a shortfall of more than 60,000 affordable homes in the county for low-income families, with at least 5,000 left homeless.   

 Housing has become too expensive and hard to find, particularly for vulnerable populations like seniors, veterans, low-income families with children and people with disabilities, including those in the workforce whom we count on to deliver essential services.

 Measure A1 offers a practical, long-term solution that creates and protects affordable housing options through rental and homeownership programs that will:

  • Help our workforce  – like teachers and nurses who deliver essential community services  – live in Alameda County while having enough for basic necessities, like groceries, childcare and transportation.
  • Protect our seniors from displacement and help them with critical home repairs, like ramps and accessibility features.
  • Provide affordable housing for our most vulnerable residents  - low-income families with children, veterans, and people with disabilities.
  • Help get homeless people off the street, out of parks and encampment s and into safe, supportive housing with services that get them back on their feet.

 Measure A1 is a robust plan with strong accountability features.  Every dollar raised stays in Alameda County, allocated according to a detailed plan, available online. Independent annual audits ensure funds are spent as approved by voters.  Join our teachers, nurses, seniors and veterans to bring more affordable housing to Alameda County.

Vote YES on Measure A1!

www.affordablealameda.com 

Argument Signatories:

 s/ David Barron, Treasurer, Habitat for Humanity East Bay

s/ Tamra C. Hege, Alameda County Council Chair, League of Women Voters

s/ Igor Tregub, Vice Chair, Sierra Club, San Francisco Bay Chapter

s/ Coco Ramirez, Board Member, United Seniors of Alameda County

s/ Bishop Jerry W. Macklin, Senior Pastor, Glad Tidings Church

Arguments AGAINST

No Argument Against Measure A1 was submitted.

Proposed legislation

ALAMEDA COUNTY AFFORDABLE HOUSING BOND AUTHORIZATION

 

The Board of Supervisors (the “Board”) recognizes housing in the County of Alameda, State of California (the “County”) has become increasingly scarce and expensive, to the point that it is now out of reach for many low - and middle - income residents, including, but not limited to, the elderly, the homeless, persons with disabilities, and other vulnerable populations.

 

Having received input and support from the community, the Board has called an election for the purpose of submitting to the qualified electors of the County a proposition for incurring bonded indebtedness of the County to mitigate the scarcity and cost of housing within the County. The bonds will generate up to $580 million for the acquisition or improvement of real property, a portion of which shall be used to provide up to 8,500 units of affordable local rental housing to prevent displacement of vulnerable populations, including low and middle - income individuals and families, working households, veterans, seniors, and persons with disabilities; a portion of which shall be used to provide supportive housing for homeless people; and a portion of which shall be used to help low and middle - income households purchase homes and stay in their communities.

 

ACCOUNTABILITY SAFEGUARDS

Pursuant to Government Code Section 53410, the following additional accountability measures will be complied with for this bond measure:

 

Specific Purpose: The specific purpose of the bonds to be issued pursuant to this bond measure are to fund the acquisition or improvement of real property in order to prevent displacement of vulnerable populations, to provide supportive housing for the homeless, and to help low and middle income households purchase homes. The proceeds of any bonds issued pursuant to this bond measure will b e applied only to these specific purposes.

 

Special Bond Proceeds Account: The County will create an account into which the bond proceeds shall be deposited.

 

Annual Report: The County will prepare and file an annual report pursuant to Government Code Section 53411.

 

Independent Citizens’ Oversight Committee: A Citizens' Oversight Committee will be established to review the annual report each year to ensure that bond proceeds are being spent in compliance with this ballot measure.  

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