1 APPROVED AS TO FORM AND LEGALITY
________________________
CITY ATTORNEY’S OFFICE
OAKLAND CITY COUNCIL
RESOLUTION NO. ______________ C.M.S.
INTRODUCED BY MAYOR BARBARA LEE
RESOLUTION IN SUPPORT OF PROPOSITION 1, WHICH, IF PASSED BY VOTERS IN THE GENERAL ELECTION ON NOVEMBER 3, 2026,
WOULD AUTHORIZE $11.25 BILLION IN STATE GENERAL
OBLIGATION BONDS FOR HOUSING AFFORDABILITY PROGRAMS
WHEREAS, the League of California Cities (Cal Cities) and its member cities, including the City of Oakland, advocate for secure investments to increase the supply of affordable housing; and
WHEREAS, Proposition 1, the Veterans and Affordable Housing Bond Act of 2026, will appear on the November 3, 2026 statewide ballot and authorize the state to issue $11.25 billion in state general obligation bonds to provide funding to build and preserve affordable homes and expand homeownership opportunities across California; and WHEREAS, Proposition 1 is anticipated to provide funding to fast-track numerous already-approved, shovel-ready affordable homes, turning stalled projects into homes for families who need them; and
WHEREAS, Proposition 1 is anticipated to provide funding to build homes working families can afford, so that the teachers, firefighters, and nurses who serve the City of Oakland can afford to live in the community they serve; and
WHEREAS, Proposition 1 honors our veterans by dedicating $1.25 billion solely to veterans' housing and homeownership opportunities, including the CalVet Home Loan Program, which has already helped almost a million veterans and their families; and WHEREAS, Proposition 1 helps our most vulnerable neighbors by providing funding to create and preserve housing for low-income residents, seniors, those who are homeless or at risk of homelessness, foster youth experiencing homelessness, and people with disabilities; and WHEREAS, Proposition 1 does not raise taxes, but may unlock matching federal funds, bringing tax dollars Californians send to Washington back home to California; and WHEREAS, Proposition 1 comes with strict accountability, public reporting, and clear requirements, so that voters can see how many homes get built, where, and at what cost; and WHEREAS, Proposition 1 benefits veterans, seniors, low- and middle-income Californians, persons with disabilities, working families, farmworkers, students, first-time homebuyers, and our youth; and
WHEREAS, the City Council of the City of Oakland finds that the safe, affordable homes and veteran housing investments made possible by Proposition 1 are in the best interest of the residents of Oakland; now therefore be it
RESOLVED: That the City Council of the City of Oakland supports Proposition 1, which would authorize $11.25 billion in state general obligation bonds for housing affordability programs.
IN COUNCIL, OAKLAND, CALIFORNIA,
PASSED BY THE FOLLOWING VOTE:
AYES - BROWN, FIFE, GALLO, HOUSTON, RAMACHANDRAN, UNGER, WANG, AND ATTEST:
ASHA REED
City Clerk and Clerk of the Council of the
City of Oakland, California
PRESIDENT JENKINS
NOES –
ABSENT –
ABSTENTION –
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