San Jose officially adds more than $1 billion in bond measures to November ballot

San Jose voters will have the chance to authorize more than a billion in bonds to pay for things like street repairs and affordable housing.

On Friday, the final day to add items to the November ballot, the San Jose City Council voted to put a $650 million general obligation bond — with an average levy of 11 cents per $1,000 of assessed value — on the ballot. If residents approve the measure, the money would pay for upgrading emergency and disaster response, repaving streets and repairing other city infrastructure.

The council also voted to place a $450 million affordable housing bond — with an average levy of 8 cents per $1,000 of assessed value — on the ballot. While voters approved a $950 million bond at the county level in 2016 to permanently house homeless people, the new measure is broader and specific to San Jose, meaning the city could consider proposals for teacher housing, transitional housing or mixed-income housing. The council agreed that the measure should specify that at least a third of the money should go to very low-income people, earning 30 percent or less of the area’s median income, which is north of $100,000 for a family of four.

“It’s important for the city to have some control over its destiny in creating affordable housing,” Mayor Liccardo said at a council meeting Friday morning, where he joined all but one council member — Johnny Khamis — in voting to put the measure on the ballot.

Khamis said Friday that while he does see a big need for housing, he pointed out the county hasn’t spent down the 2016 bond yet and said the city has passed ordinances that require developers to build affordable housing in new construction or pay a fee.

“This issue is much bigger than just finding money,” Khamis …read more

Source:: The Mercury News – Politics


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