CITY OF PACIFICA
COUNCIL AGENDA SUMMARY REPORT
9/28/2026
1 SUBJECT:
Proposition 1, the Veterans and Affordable Housing Bond Act of 2026 RECOMMENDED ACTION:
Consider a resolution of support for Proposition 1, the Veterans and Affordable Housing Bond Act of 2026.
STAFF CONTACT:
Sean Charpentier, City Manager
(650) 738-7409
[email protected] <mailto:[email protected]> BACKGROUND/DISCUSSION:
Proposition 1, the Veterans and Affordable Housing Bond Act of 2026, is a measure placed on the November 3, 2026 ballot by the California Legislature that would replenish existing housing programs for the development, preservation, and rehabilitation of affordable housing projects.
Proposition 1 would allow the state to sell $11.25 billion in general obligation bonds for housing purposes. This amount consists of (1) a $10 billion bond for a variety of housing programs that would be repaid by the State’s General Fund and (2) a $1.25 billion bond that would be repaid by veterans’ payments on their home loans.
The League of California Cities which has long supported investments that increase the supply of affordable housing also supports Prop. 1. Cal Cities maintains that, if approved by the voters, Prop. 1 would replenish funding for several successful state programs used by cities to support affordable housing and infrastructure. Prop. 1 could also fund innovative local programs like regional housing trusts and support cities in meeting their Regional Housing Need Assessment (RHNA) goals for current and future cycles.
The full text of the measure is available at: Bill Text - SB-417 The Veterans and Affordable Housing Bond Act of 2026.
<https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202520260SB417> The Legislative Analyst Office Analysis is available at: Proposition 1 [Ballot] <https://lao.ca.gov/BallotAnalysis/Proposition?number=1&year=2026> ALTERNATIVE ACTION:
The City could take no position or take a position to oppose Proposition 1.
RELATION TO CITY COUNCIL GOALS AND WORK PLAN:
This is related to the following City Council Goals:
03. Prioritize protection and development of affordable housing.
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September 28, 2026
05. Broaden public communications and collaboration
5D. Improve coordination and collaboration between the City Council and local regional commissions, boards, and committees.
ORIGINATED BY:
City Manager’s Office at the request of League of California Cities.
FISCAL IMPACT:
There is no local fiscal impact.
ORIGINATED BY:
City Manager's Office
ATTACHMENT LIST:
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September 28, 2026
RESOLUTION NO. ___
PACIFICA RESOLUTION FOR
PROPOSITION 1: THE VETERANS AND AFFORDABLE HOUSING BOND ACT OF 2026 WHEREAS, Cal Cities and its member cities 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 Pacifica 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 of Pacifica finds that the safe, affordable homes and veteran housing investments made possible by Proposition 1 are in the best interest of the residents of the City of Pacifica;
NOW, THEREFORE, BE IT RESOLVED, that the City of Pacifica supports Proposition 1, the Veterans and Affordable Housing Bond Act of 2026.
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September 28, 2026
• • • • •
PASSED AND ADOPTED at a regular meeting of the City Council of the City of Pacifica, California, held on the 28th day of September, 2026, by the following vote:
AYES, Councilmembers:
NOES, Councilmembers:
ABSENT, Councilmembers:
ABSTAIN, Councilmembers:
_________________________________
Christine Boles, Mayor
ATTEST: APPROVED AS TO FORM:
______________________________ _________________________________ Sarah Coffey, City Clerk Michelle Kenyon, City Attorney