RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RIVERSIDE, CALIFORNIA, IN SUPPORT OF PROPOSITION 1: THE VETERANS AND AFFORDABLE HOUSING BOND ACT OF 2026 WHEREAS, the City of Riverside states its strong support for an increase in the supply of affordable housing throughout the state of California; 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 build homes working families can afford, so that the teachers, firefighters, law enforcement officers, and nurses who serve the City of Riverside 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 purchase homes in our state; and WHEREAS, Proposition 1 is expected to provide $1.1 billion for home ownership and downpayment assistance, from which the City of Riverside could access to facilitate home purchases for its residents; and WHEREAS, Proposition 1 promises to provide $500 million for infrastructure projects, to include water, sewage, parks, and various community improvements; and WHEREAS, Proposition 1 will set aside $350 million to be split between the University of California and California State University to provide affordable student housing; 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 Riverside, California, finds that the safe, affordable homes and veteran housing investments made possible by Proposition 1 are in the best interest of the residents of Riverside; NOW, THEREFORE, BE IT RESOLVED, that the City Council of Riverside supports Proposition 1, the Veterans and Affordable Housing Bond Act of 2026.
ADOPTED by the City Council this _________ day of _____________, ______. ________________________________________
PATRICIA LOCK DAWSON
Mayor of the City of Riverside
Attest:
_____________________________
DONESIA GAUSE
City Clerk of the City of Riverside
I, Donesia Gause, City Clerk of the City of Riverside, California, hereby certify that the foregoing resolution was duly and regularly adopted at a meeting of the City Council on the _________ day of _____________, ______, by the following vote, to wit:
Ayes:
Noes:
Absent:
Abstain:
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the City of Riverside, California, this ________ day of ______________, ______. _________________________________
DONESIA GAUSE
City Clerk of the City of Riverside
315555 SDW 9/24/26
https://riversideca-my.sharepoint.com/personal/eroyle_riversideca_gov/Documents/Desktop/Resolution (315555).docx 2 City Attorney’s Office3750 University Ave., STE. 250Riverside, CA 92501(951) 826-5567City Attorney’s Office3750 University Ave., STE. 250Riverside, CA 92501(951) 826-5567 City Attorney’s Office
3750 University Ave., STE. 250
Riverside, CA 92501
(951) 826-5567
City Attorney’s Office
3750 University Ave., STE. 250
Riverside, CA 92501
(951) 826-5567
City Attorney’s Office3750 University Ave., STE. 250Riverside, CA 92501(951) 826-5567City Attorney’s Office3750 University Ave., STE. 250Riverside, CA 92501(951) 826-5567 City Attorney’s Office
3750 University Ave., STE. 250
Riverside, CA 92501
(951) 826-5567
City Attorney’s Office
3750 University Ave., STE. 250
Riverside, CA 92501
(951) 826-5567
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