The Public Record — Joint Meeting for the Rules and Open Government Committee and Committee of the Whole, August 27, 2025

RULES COMMITTEE: 8/27/2025
Item: B.1
File ID: ROGC 25-260
TO: Honorable Mayor & FROM: Toni J. Taber, MMC
City Council City Clerk
SUBJECT: The Public Record DATE: August 27, 2025
August 14, 2025 – August 21, 2025.

ITEMS FILED FOR THE PUBLIC RECORD
Letters from Boards, Commissions, and Committees
Letters from the Public

1. Letter from Association of Bay Area Governments (Shali Sirkay), dated August 15, 2025, regarding: Time Sensitive Opportunity to Provide Input to ABAG.

2. Letter from Office of the Clerk of the Board of Supervisors (Jessica Campiz), dated August 15, 2025, regarding: Received Measure A (2016) Independent Auditor FY 2024- 2025 Q3 Report and FY 2023-2024 Financial Audit Report.

3. Letter from Brenda Bell Brown, dated August 15, 2025, regarding: Stop the Sweep.

4. Letter from California Public Utilities Commission (Felipe Martinez), dated August 18, 2025, regarding: CPUC - Verizon Wireless - -CA_SJ_SANJOSE_WEST_206 - A- 543147.

5. Letter from California Public Utilities Commission (Felipe Martinez), dated August 18, 2025, regarding: CPUC - Verizon Wireless - -CA_SJ_SANJOSE_WEST_150 - A- 517949.

6. Letter from Akos Szoboszlay, dated August 18, 2025, regarding: my speech to Council, Open Forum, 08/12/2025.

7. Letter from Ann Chung, dated August 19, 2025, regarding: City council meeting today.

8. Letter from Barbara Gallaty, dated August 20, 2025, regarding: Columbus Park Slum lords. [*Attached photographs are available for review by contacting the City Clerk’s Office]
Rules and Open Government Committee
August 27, 2025
Subject: Public Record

Page 2 ends

____________________________
Toni J. Taber, MMC
City Clerk
TJT/tt

[External Email. Do not open links or attachments from untrusted sources. Learn more] This message is from outside the City email system. Do not open links or attachments from untrusted sources. (On Bcc: All Mayors and Councilmembers in SCC)
Good Morning Mayors, Councilmembers, and City Managers, The Association of Bay Area Governments ("ABAG") President, Vice President and Executive Director are hosting a meeting with ABAG's Santa Clara County Executive Board members on Wednesday, August 27th, 11am - 12noon at San Jose City Hall. The purpose of this meeting is for ABAG to hear our priorities as a County and individual cities, get feedback on the work ABAG has been doing, including providing housing funding and technical support and processes such as RHNA, and raise any other issues related to the work and mission of ABAG.

If you would like to provide any information to share with ABAG, please email it to me by 5pm on Monday, August 25, 2025.

Cities Association Board Members and Councilmembers are not expected to attend this meeting, but if you would like to attend, please email Los Altos Vice Mayor and ABAG Executive Board Member Neysa Fligor
City Clerks, please forward this email to your council.

Thank you,
Shali
______________________________________
Shali Sirkay, MPH
Executive Director
Cities Association of Santa Clara County
P.O. Box 3144
Los Altos, CA 94024
www.citiesassociation.org
8/19/25, 1:37 PM Mail - Rules and Open Government Committee Agendas - Outlook https://outlook.office365.com/mail/[email protected]/inbox/id/AAQkADhhYzk3NTk1LTBmZDAtNDc4Yi1hN2Q0LTZjNmZjNTk5MT… 2/2

This message is from outside the City email system. Do not open links or attachments from untrusted sources. relating to the Fiscal Year (FY) 2024-2025 Third Quarter Report and FY 2023-2024 Financial Audit Report from the Independent Auditor.

Enclosed is a copy of the two reports received for your records.

Thank you,
Jessica Campiz
Deputy Clerk, Board Operations Unit
Office of the Clerk of the Board of Supervisors
70 West Hedding St 10th floor
San Jose, CA 95110
408-299-5001
[email protected]
NOTICE:

This email message and/or its attachments may contain information that is confidential or restricted. It is intended only for the individuals named as recipients in the message. If you are NOT an authorized recipient, you are prohibited from using, delivering, distributing, printing, copying, or disclosing the message or content to others and must delete the message from your computer. If you have received this message in error, please notify the sender by return email. 8/20/25, 11:57 AM Mail - Rules and Open Government Committee Agendas - Outlook https://outlook.office365.com/mail/[email protected]/inbox/id/AAQkADhhYzk3NTk1LTBmZDAtNDc4Yi1hN2Q0LTZjNmZjNTk5MT… 2/2

MGO Advisory Page 2 of 42
Table of Contents
EXECUTIVE SUMMARY .............................................................................................................. 3 Message to the Board of Supervisors ....................................................................................... 3 Period in Review ....................................................................................................................... 6 Bonds Authorized vs. Committed and Expended...................................................................... 6 Bond Proceeds.......................................................................................................................... 7 Quarterly Activity ....................................................................................................................... 7 Progress to Date ....................................................................................................................... 8 Housing Units ........................................................................................................................ 9 Projected Delivery of Units ..................................................................................................11 Leveraging Ratio .....................................................................................................................13 DETAILED PROGRAM RESULTS .............................................................................................14 Housing Bond Trends and Highlights......................................................................................14 A. Housing Bond Sources and Uses .......................................................................................14 B. Status and Progress Towards Housing Bond Goals...........................................................15 C. Observations and Assessments .........................................................................................22 D. Fiscal Year 2024-2025 Quarter 3 Updates .........................................................................27 Appendix 1 - BACKGROUND .....................................................................................................30 Purpose of the Measure A Affordable Housing Bond Program...............................................30 Purpose of the Independent Citizens’ Oversight Committee...................................................30 Performance Dashboards .......................................................................................................30 Appendix 2 – Glossary of Technical Terms ................................................................................31 Attachment A – Homeownership Programs Summary ...............................................................32 Attachment B – Approved Homeownership Production Project Status.......................................34 Attachment C – Approved Mixed Income Housing Development Project Status........................35 Attachment D – Approved Affordable and Supportive Housing Development Project Status ....36 Attachment E – County-Owned and Partnership Project Status.................................................39 Attachment F – Santa Clara County Measure A Housing Projects.............................................40 Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 3 of 42

EXECUTIVE SUMMARY
Message to the Board of Supervisors
Background
This report provides an update on the activity regarding the County of Santa Clara Measure A 2016 Affordable Housing Bond Program (Program) and to its Citizens’ Oversight Committee (Committee) for the third quarter of FY 2024-25, from January 1, 2025 through March 31, 2025.

The Program, approved by Santa Clara County (County) voters in 2016, authorizes the issuance of up to $950 million in general obligation bonds for the acquisition or improvement of real property in order to provide affordable local housing for vulnerable populations within Santa Clara County.

The Program has issued all authorized bonds in the amount of $950 million.

For more information, please see the 2016 Measure A – Affordable Housing Bond website at:
https://osh.sccgov.org/2016-measure-affordable-housing-bond Highlight
The Office of Supportive Housing has introduced new analysis in Section C of the Detailed Program Results Segment of this report, which focuses on the risks associated with implementation of the Housing Bond projects and the delivery of units. These analyses display the types of impacts incurred by Measure A projects and how they evolved over time, along with a risk assessment on future pipeline projects.

Key Takeaways
The Committee presents the Board of Supervisors (Board) the following key takeaways regarding the Program, as of March 31, 2025.

1. All bond proceeds have been committed or allocated to projects and there are no available funds for new projects under Measure A. Of the $950 million issued in bond proceeds, $871.91 million has been committed to affordable housing projects and programs.

The remaining $78.09 million has been allocated to specific projects awaiting future Board approval. The Office of Supportive Housing is monitoring the allocated funds to ensure the projects are meeting expectations. See Exhibit 1a for further information.

2. With 4,784 units approved with Measure A financing, the Program is moving towards its goal of financing 4,800 affordable rental units with $825 million of designated program funds. The Program should focus on the timely construction and completion of the financed units.

The absence of gap financing from the State, coupled with competitive tax credit rounds, perpetuates a logjam of projects that, despite being fully entitled, are struggling to secure all needed financing.

3. The success of Measure A projects has a great dependency upon obtaining federal vouchers. The County has successfully been able to leverage 2,849 Section 8 Project Based Vouchers for Housing Bond funded projects. The Santa Clara County Housing Authority is working on their voucher allocation strategy, but additional advocacy is needed at the federal level to increase funding available to support more vouchers. Additionally, there is a growing uncertainty about the availability of existing vouchers for future projects.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 4 of 42

4. The statewide insurance crisis for single family homes is affecting multifamily developments as well. This insurance crisis is not only impacting fire zones, but rather, all development areas state-wide. The cost of insurance during construction is becoming increasingly expensive which is increasing the overall project costs. Similarly, insurance premiums for completed affordable housing developments are also increasing, which is impacting the financial health of the development in the long-term. As insurance premiums increase there is less cash flow available for the development to repay their loans to the County and the loans may take longer to repay.

5. There is increasing leveraging of multiple sources beyond the County. This complex financing model increases the time required to obtain all financing compared to using a single funding source. The principal obstacle to producing affordable housing under this program has been in lining up additional funding, not in obtaining local approval.

Governments must plan for the additional time required to secure multiple funding sources to prepare realistic timelines and estimate total project costs for delivery of completed, ready to occupy affordable housing units. The extended timelines not only delay the availability of affordable housing but lead to increased construction costs. See Exhibit 6 for further information.

Status of Prior Recommendations
The following is an update on the status of recommendations the Committee made to the Board in prior reports.

1. Recommendation: Enlist a university to conduct an independent in-depth case study of the Measure A Program to identify what worked, what did not work, and why, as well as analyze the external challenges and delays. In addition, the case study should analyze the State’s housing policies, including the state tax credits program, and their effect on the Program.

The Committee understands OSH is preparing options for the Board to consider.

Status: Partial. While the committee has recommended a case study to be performed by a university, OSH has identified a non-university consultant, ABT Global, as the most qualified to perform this study. The contract for independent study has been executed and is scheduled to be issued in November 2025 including a report plus initial findings that will be shared with the Committee for review before finalizing.

2. Recommendation: The Committee should receive more details from the Program related to the specific plans for the remaining properties noted in Attachment E. The details should include at a minimum a timeline and efforts taken to demonstrate progress.

Status: Partial. Attachment E includes each project’s status and upcoming milestones. An expected timeline for development by project has not been provided for all projects.

Other Observations
As of March 31, 2025, the Program had committed in total $871.91 million toward its combined goal of 5,127 units (for more information see Table 1). The Program continued progressing in its development of affordable housing units under the effective management of the County’s Office of Supportive Housing. As a result of those efforts, the Program’s Housing Projects Leveraging Ratio continued to be more than 4:1, or more than $4 of non-Measure A funds invested for every one dollar of Measure A funding.

1. The Program’s delivery of affordable housing units is slower than expected. The increasing construction costs, labor shortages, inflation, and complexity of securing financing and insurance causes the Program’s development and renovation projects to take longer to complete and to cost more than initially anticipated. For more information see Table 1 on page 15.

2. The Program will not reach the RRH goal of 1,600 units. The Program has 56 units remaining to be financed in order to meet its goal of 4,800 units as of March 31, 2025. Only 651 units or 40.69 percent of the 1,600-unit RRH goal have been approved by the Board of Supervisors to date.

3. 13 Multifamily Rental Affordable and Supportive Housing, one Mixed Income Housing, and one Homeownership Production projects are still working to secure financing. The Program is unable to predict if all the projects will obtain financing and when. Developers have up to 3 years to secure all financing before the Program considers reallocating a project’s committed program funds to another project. The longer it takes for a project to secure financing the more likely the overall project cost will increase and the less likely a developer will be able to obtain sufficient financing and build the affordable housing units.

4. The number of applications that successfully become loans continued to be very low for the First-Time Homebuyer Assistance Program, (Empower Homebuyers).

5. Due to efforts by the Program, the geographic distribution of the Program’s projects while initially uneven, has improved. The Program’s current 61 projects are located within eleven cities in the County1, with a majority located in the City of San Jose (i.e., 37 of the 61 projects). The Committee recognizes the Program has turned down projects in San Jose in order to use Program funds for projects in other locations.

6. The strategy of the Program using funds to purchase properties and re-purpose Countyowned properties is not meeting the Committee’s expectations. While this may have been a good strategy to control Program costs, it has not resulted in units being constructed and completed any faster.

The Program estimates the development of the properties could result in 600 to 700 new affordable units. See Exhibit F for further information. However, the Committee is seriously concerned about whether these goals are achievable due to the following reasons:
 Not all properties were purchased with clear development plans.  Not all properties have a committed developer.
 Not all properties have defined timeframes for developing affordable housing units.  Not all properties have additional funds set aside for developing affordable housing units.

The Committee would like to thank the County’s Office of Supportive Housing for their hard work and dedication to providing affordable housing in the County. 1 Projects are located in eleven of the fifteen cities of Campbell, Cupertino, Gilroy, Los Altos, Los Altos Hills, Los Gatos, Milpitas, Monte Sereno, Morgan Hill, Mountain View, Palo Alto, San Jose, Santa Clara, Saratoga and Sunnyvale.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 6 of 42
Period in Review
This report provides an update on the activity regarding the County of Santa Clara Measure A 2016 Affordable Housing Bond Program (Program) and its Citizens’ Oversight Committee (Committee) for the second quarter of FY 2024-25, January 1, 2025 through March 31, 2025.

Bonds Authorized vs. Committed and Expended
Exhibit 1 below compares the Measure A affordable housing bonds authorized to the Program's commitment and spending of the bonds proceeds as of March 31, 2025. The left bar shows the total of the $950 million in affordable housing bonds authorized and issued as of March 31, 2025.

The right bar depicts the $871.91 million the Program has committed for affordable housing projects, which is split into three categories: expended, not expended, and available to commit.

As of March 31, 2025, the Program had spent $678.12 million. For Multifamily Rental Affordable and Supportive Housing (4,800-unit goal), the Program had financed approximately 15.64 percent of total housing costs for 57 housing projects, at an average per unit cost of approximately $117,169 and 98.83 percent (4,744 units) of its goal of 4,800 affordable housing units.

Exhibit 1
Source: Data provided by the Office of Supportive Housing Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 7 of 42
Exhibit 1a below outlines the remaining available to commit amount the Program has allocated to specific projects awaiting Board approval.

Exhibit 1a2
Bond Proceeds
During the third quarter of FY 2024-25, the Program’s bond activity was as follows:

Quarterly Activity
During the third quarter of FY 2024-25, the Program had the following activity:
• Twelve projects continued construction.
2 The Board has not yet taken action to direct these funds.

Proposed Project Reservation of
Funds
Homeownership Production $3,000,000
VTA Berryessa Station $11,115,000
VTA Capitol Station $11,571,000
Cupertino Housing, Cupertino
Senter Road, San Jose
8th and Alexander, Gilroy
Total $78,092,301
$52,406,301
Balance of Bond Proceeds
at December 31, 2024 $ 313,282,460
Interest earnings 68,408
Rent revenue 138,329
Loan repayment from Hillview Court Developers 700,000
Other revenues 18,100
Change in accounts payable (464,047)
Loan to Hillview Court Developers (265,954)
Other expense (18,150)
Spending during the quarter (19,937,468)
Net decrease in bond proceeds (19,760,783)
Balance of Bond Proceeds
at March 31, 2025 $ 293,521,677
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 8 of 42
During the third quarter of FY 2024-25, the Program spent $19.94 million as described in the exhibit below.

Exhibit 2
Source: Data provided by the Office of Supportive Housing.

Progress to Date
The Program had committed funds of $871.10 million as of March 31, 2025.

Exhibit 3
Source: Data provided by the Office of Supportive Housing.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 9 of 42
Housing Units
Exhibit 4a below shows the number of units completed, in construction (including projects that secured all financing), and in pre-construction for the Multifamily Rental Affordable and Supportive Housing as of March 31, 2025. The goal is 4,800 units. For more information on the status of approved Multifamily Rental Affordable and Supportive Housing projects, please see Attachment D.

Exhibit 4a
Source: Data provided by the Office of Supportive Housing.

Exhibit 4b below shows the number of units completed, in construction (including projects that secured all financing), and in pre-construction for Mixed Income Housing as of March 31, 2025.

The goal is 300 units. For more information on the status of approved Mixed Income Housing projects, please see Attachment C.

Exhibit 4b
Source: Data provided by the Office of Supportive Housing.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 10 of 42
Exhibit 4c below shows the number of units completed, in construction (including projects that secured all financing), and in pre-construction for the Homeownership Production as of March 31, 2025. The goal is 100 units. For more information on the status of approved Homeownership Production projects, please see Attachment B.

Exhibit 4c
Source: Data provided by the Office of Supportive Housing.

For more information on the status and progress towards these Housing Bond goals, please see Section B of the Detailed Program Results in the next section of this report.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 11 of 42
Projected Delivery of Units
Housing projects prepare timelines with dates for key development milestones to estimate when the project will be completed and submit revised timelines throughout the course of the projects.

Exhibits 5a through 5c show for each of the Program’s project types the cumulative number of units estimated to be delivered in each calendar year from 2019 through 2029. Exhibit 5a below shows for Multifamily Rental Affordable and Supportive Housing 4,784 goal units are estimated to be delivered by calendar year end of 2029, as of March 31, 2025.

Exhibit 5a
Source: Data provided by the Office of Supportive Housing.

Of the 4,744 units shown above, 1,101 units have not secured all financing, thus, dates are subject to change.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 12 of 42
Exhibit 5b below shows for Mixed Income Housing 275 units are estimated to be delivered by calendar year end of 2027, as of March 31, 2025.

Exhibit 5b
Source: Data provided by the Office of Supportive Housing.

Exhibit 5c below shows for Homeownership Production 18 units are estimated to be delivered by calendar year end of 2027, as of March 31, 2025.

Exhibit 5c
Source: Data provided by the Office of Supportive Housing.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 13 of 42
Leveraging Ratio
The Program’s developing affordable housing requires financing from multiple sources as the Program typically provides only a small portion of the financing compared to each project’s total estimated development cost. Developers obtain financing from multiple sources other than Measure A, which are all considered non-Measure A funds for this report. County funds other than Measure A are sometimes used to fund the projects and those funds are considered to be non-Measure A funds for this report. The leveraging ratio is the comparison of non-Measure A funds to the Measure A (Program) committed funds.

The County’s Supportive Housing Development Program Guidelines, version 7 (approved by the Board of Supervisors on November 16, 2021), requires that Program applicants must propose the maximum use of available non-local funds to achieve the highest reasonable financial leverage of capital resources. Measure A funds must be leveraged at a minimum of a 3:1 ratio, which is, for every three dollars invested by non-Measure A funds there is one dollar invested by the Measure A Program.

Exhibit 6a shows the committed program funds and the Non-Measure A funds for all program housing projects for each year in FY2018-19 through FY2024-25. Exhibit 6a excludes Mixed Income Housing and Homeownership Production.

Exhibit 6b shows the average leveraging ratio for each year in FY 2018-19 through FY 2024-25.

Exhibit 6b excludes Mixed Income Housing and Homeownership Production. The leveraging ratio has been increasing annually as new projects are added with smaller Measure A commitments, requiring these newly approved projects to leverage more State and soft financing.

Exhibit 6a Exhibit 6b
Source: Data provided by the Office of Supportive Housing.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 14 of 42

DETAILED PROGRAM RESULTS
The quarterly report highlights trends, successes, and challenges related to implementation of the 2016 Measure A Affordable Housing Bond (Housing Bond) for the reporting period.

Administration through the Office of Supportive Housing (OSH) is the lead department responsible for implementation of the Housing Bond in partnership with the 15 incorporated cities throughout the County.

The primary function of this section of the report is to communicate how different programs are contributing towards the housing goals established by the Board of Supervisors (Board) in 2017.

The Housing Bond Implementation Plan includes rental housing and for-sale housing in four program categories: Homeownership Programs, Homeownership Production, Mixed Income Rental Housing Production, and Multifamily Rental Affordable and Supportive Housing Production. Additionally, this report provides supplementary information related to the Administration’s strategy to meet the Housing Bond goals by 2026.

Housing Bond Trends and Highlights
Current overarching trends which impact the County’s financing and development of affordable and supportive housing include:
• The inability to receive an allocation of tax credits and obtain additional soft financing continues to be the primary reason that projects are not able to move more quickly.

Generally speaking, only 50% of all Bay Area projects that apply for tax credits are awarded the first time they apply.
• The County has successfully been able to leverage 2,849 Section 8 Project-Based Vouchers for Housing Bond funded projects. The Santa Clara County Housing Authority is working on their voucher allocation strategy, but additional advocacy is needed at the federal level to increase funding available to support more vouchers.

A. Housing Bond Sources and Uses
To date, of the $950 million in total authorized Housing Bond funds, the Board has committed $871,907,699 and has approved prioritization of the remaining funds. Table 1 summarizes the sources and uses, unit goals and progress towards goals by program category for all Housing Bond funded programs. In 2021, OSH introduced unit goals for the two homeownership programs and for the mixed income housing totaling 550 units to supplement the larger Housing Bond Goal of 4,800 units, originally approved by the Board in 2017.

B. Status and Progress Towards Housing Bond Goals
Homeownership Programs ($21M)
Through various actions the Board has approved two strategies that would increase funding available for first-time homebuyers earning up to 120% of Area Median Income (AMI). The primary goal of these homebuyer programs is to provide opportunities for lower income households to build wealth through homeownership. $21M in Housing Bond funds has been programmed towards homeownership programs.

Program
Category
Programmed
Funds
Committed
Funds
Remaining
Funds
Homeownership
Programs $21,000,000 $21,000,000 $0
Homeownership
Production $21,000,000 $18,000,000 $3,000,000
Mixed Income
Housing $83,000,000 $30,414,400 $52,585,600
Subtotal $125,000,000 $69,414,400 $55,585,600
PSH: 1,800 PSH: 1,800 PSH: 1,407
RRH: 1,600 RRH: 651 RRH: 95
ELI: 800 ELI: 905 ELI: 437
VLI: 600 VLI: 1,388 VLI: 494
Total 4,800 Total 4,744 Total 2,433
Subtotal $825,000,000 $802,493,209 $22,506,791
Totals $950,000,000 $871,907,609 $78,092,391
Previously
Approved
County
NOFA Rounds
1-12
Supported
Housing Fund
Unit Goals
150
400
550
4,800
5,350
Approved
"Goal"
Units
90 18
275
383
5,127
4,744
Completed
"Goal"
Units
90 -
-
90 2,523
$825,000,000 $22,506,791
$11,900,000
$90,472,500
$700,120,709
2,433
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 16 of 42
• Empower Homebuyers SCC ($20M)
On June 19, 2018 (Item No. 15), the Board approved program guidelines for the countywide first-time homebuyer assistance program and approved using up to $25,000,000 for the program, which came to be known as Empower Homebuyers SCC (Empower Homebuyers).

The Board concurrently approved an agreement with HTSV to administer Empower Homebuyers, which officially launched on November 20, 2018. On June 27, 2023 (Item No. 89), the Board approved a new agreement with HTSV to continue the program for another three years. As of March 31, 2025, HTSV had received 7,732 intake applications and 90 households had purchased a home (Attachment A). Currently, six households are preapproved and actively shopping for a home. The County has transferred 88 of these loans from HTSV. HTSV has issued $14,080,326 in program loans, which is an average of $160,004 per assisted homebuyer. Of the loans issued to date, seven have been repaid, totaling $927,255, which includes equity share payments to the County totaling $209,975. • Below Market Rate Partnership Program ($1M)
On June 27, 2023, the Board approved the program guidelines for a new Below Market Rate Partnership Program. Deferred mortgage loans of approximately $100,000 of Housing Bond funds per household will help lower-income homebuyers afford homes that would otherwise need to be sold to households with higher incomes. The County is leveraging $5,000,000 in grant funds awarded through the State of California 2021 CalHome Program. In December 2023, the County issued loans to the first two households under this new program in partnership with the City of Morgan Hill, for a total of $185,000 in Housing Bond funds. Both homes were sold to low-income households.

Since October 2023, the County has issued loans to help another five households purchase a home in the City of Morgan Hill, the Town of Los Gatos, and the City of Milpitas using only CalHome funds. Administration has also issued two pre-approval letters to households enrolled in the City of Sunnyvale’s local homeownership program and four pre-approval letters to households in the City of San Jose. On February 25 (Item No. 54), the Board approved updated program guidelines for the BMR Partnership Program, which allow local jurisdictions and other eligible agencies to use available program funds to acquire homes through their local homeownership programs and repay the program when these homes are sold in accordance with program requirements. On March 26, 2025, the Administration issued a $520,354 acquisition loan to the City of Gilroy to help them acquire one home in their existing single family loan portfolio which will be sold to an eligible household through the BMR Partnership Program. $294,646 in Housing Bond funds currently remains for additional acquisition loans for cities and/or deferred loans to eligible buyers.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 17 of 42
Table 2a provides a summary of the approved goals, progress towards the goals, and the percentage of the goals met to date. Attachment A provides a status for each of these projects.

Table 2a: Homeownership Program Goals and Progress
Source: Office of Supportive Housing.

Affordable Homeownership Production ($21M)
The Board through various actions has approved two homeownership developments, for a total of 18 affordable homes. The two developments are in various stages of development and the County has $3,000,000 available for projects in this category. Table 2b provides a summary of the approved goals, progress towards the goals, and the percentage of the goals met to date.

Attachment B provides a status for each of these projects. This category is expected to also include the potential homeownership development at the County’s East Santa Clara Street site and the potential Branham Station development included in the County’s Memorandum of Understanding with the Santa Clara Valley Transportation Authority for the development of four potential Transit-Oriented Development sites. $13,000,000 in Housing Bond funds has been committed to the potential homeownership development at the County’s East Santa Clara Street site.

On January 28, 2025 (Item No. 65), the Board approved a delegation of authority to enter into a funding agreement with the City of San Jose which would provide up to $11,450,000 in pass through funding to provide construction financing and mortgage assistance loans to first-time homebuyers for up to four affordable homeownership projects. This collaboration is expected to reduce the administrative burden of having multiple local construction lenders and allow homebuyers to have a single resale restriction with occupancy requirements and restrictions on the sale of the unit, rather than having multiple documents from multiple local lenders.

Table 2b: Homeownership Production Goals and Progress
Source: Office of Supportive Housing.

Homeownership Program
Homes
Purchased
Goal
Total
Homes
Purchased
% of Goal
Met
Funds
Committed Funds Spent
Empower Homebuyers SCC 140 88 63% $20,000,000 $14,193,535 BMR Partnership Program 10 2 20% $1,000,000 $185,000
Totals 150 90 60% $21,000,000 $14,378,535
Category Unit Goal Approved
Units
% of Goal
Met
Funds
Committed Funds Spent
4th and Reed Homes 4 $1,000,000 $ -
Jackson Avenue Townhomes 14 $4,000,000 $ -
E. Santa Clara Street TBD $13,000,000 $ -
Totals 100 18 18% $18,000,000 $ -
100 18%
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 18 of 42
Mixed Income Housing ($83M)
On August 13, 2019 (Item No. 92), the Board approved Version 5 of the Supportive Housing Development Program Guidelines. The changes included an invitation for proposals from developers for innovative mixed-income housing developments that create opportunities for individuals and families in a broad range of income levels, from persons with disabling conditions to those earning up to 120% of AMI. The Board has since approved two mixed-income housing developments leaving a remaining balance of $26,500,000 to allocate to eligible projects. The Administration has recommended that this funding and an additional $30,500,000 from the Multifamily Rental Affordable and Supportive Housing category be prioritized for several Countyowned sites. Table 2c provides a summary of the approved goals, progress towards the goals, and the percentage of the goals met to date. Attachment C provides a status for each of these projects.

Table 2c: Mixed Income Housing Goals and Progress
Source: Office of Supportive Housing.

Category Unit Goal Approved
Units
% of Goal
Met
Funds
Committed Funds Spent
Gateway Tower 165 $24,414,490 $4,845,333
231 Grant Avenue - Educator Housing 110 $6,000,000 $1,132,360 Totals 300 275 92% $30,414,490 $5,977,693
300 92%
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 19 of 42
Multifamily Rental Affordable and Supportive Housing ($825M) Given that the County’s primary role is to help finance affordable housing development, the pace of funding allocations is meeting the Board-approved target to finance or complete 4,800 Housing Bond-funded units over a ten-year period (February 7, 2027, Item No. 21). The Board further affirmed and clearly defined the measures of success for the Housing Bond on May 25, 2021 (Item No. 35).

The County is nine years into its plan to implement the Housing Bond, and the County’s primary focus is on the delivery of completed units and meeting the remaining goals. The original timeline was ten years, but barriers to construction and limited State financing sources have extended that timeline. On September 10, 2024 (Item No. 20), the Board received a report from OSH on County strategies to finance affordable housing in support of the 2020-2025 Community Plan to End Homelessness. As indicated in this report, the County is focusing on three key strategies to move more quickly to deliver the remaining Housing Bond units, including: (1) partnering with the Santa Clara County Housing Authority (Housing Authority) and the 15 incorporated cities on the creation and ongoing management of a County Managed Housing Production Pipeline of priority projects (Managed Pipeline), (2) aggressively pursuing new funding opportunities to support the Managed Pipeline, and (3) working closely with cities to identify housing production goals, potential sites, and funding opportunities.

Over the past several months, Administration has been successfully working with the Housing Authority and our local cities to create, update, and prioritize a Managed Pipeline. As part of this work, Administration and City of San José Housing Department staff have identified opportunities to expedite and more efficiently deliver Housing Bond funded multifamily rental affordable and supportive housing units in San José. On January 28, 2025 Item No. 62), the Board approved a new funding agreement with the City of San José. This partnership is expected to accelerate the Gateway Tower, Lupina Apartments, and Algarve Apartments developments and allowed the County to act as the government co-applicant on a Homekey+ application for Algarve Apartments.

Through various actions, the Board approved funding to support 50 new construction developments and seven acquisition and/or rehabilitation developments. As of March 31, 2025, 28 developments were in operation; 11 developments were under construction; three developments have secured all financing, 14 developments have secured their entitlements and are in the process of securing tax-exempt bonds, tax credits, and other financing; and one is working on securing entitlements. Table 3a summarizes the approved Housing Bond projects by project status. Appended to this report as Attachment D is a detailed status of each project and the projected lease-up date for the 57 previously approved Housing Bond funded projects.

The Administration is actively working with the development community to apply for every funding opportunity to accelerate the pace of progress, including pursuing funding through the State of California programs and tax credits.

As of March 31, 2025, the County is on track to meet its overall goal of financing or constructing 4,800 units of rental housing production, as summarized in Table 3b. While the 57 approved developments account for a total of 5,749 units, not all of the units count towards the specific Housing Bond goals. Table 3b provides a summary of the housing bond goals and progress.

Table 3b: Multifamily Rental Affordable and Supportive Housing Goals and Progress Source: Office of Supportive Housing
Project Status No. of
Projects
Committed
Housing Bond
Funds
No. of
Units
No. of
People
No. of
"Goal
Units"
No. of
People in
"Goal
Units"
In Operation 28 $332,452,435 2,710 6,275 2,433 5,469
Under
Construction 11 $167,250,215 1,163 4,235 944 3,679
Secured All
Financial
Commitments
3 $17,926,082 441 1,541 266 883
Waiting for Tax
Credit Allocation 7 $96,285,510 559 2,062 456 1,611
Applying for Soft
Financing 7 $73,539,800 876 3,386 645 2,782
Waiting for
Entitlements 1 $4,366,667 TBD TBD TBD TBD
Total 57 $691,820,709 5,749 17,499 4,744 14,424
Goal Total
Units
Unit
Goals
% of "Goal"
Units
Approved
Funds
Committed Funds Spent
PSH to Assist Persons with
Disabling Conditions and
their Families
1,800 1,800 100%
RRH to Assist Homeless
Working Families and
Individuals Regain
Permanent Housing
651 1,600 41%
Housing Affordable to ELI
Individuals and Families 905 800 113%
Housing Affordable to VIL
Individuals and Families 1,388 600 231%
Totals 4,744 4,800 98% $700,120,709 $522,488,925
$700,120,709 $522,488,925
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 21 of 42
The Administration expects that the 4,800-unit goal will be met in aggregate, but there are two objectives that are not expected to be fully achieved: 1) the rapid rehousing (RRH) goal, and 2) the geographic distribution of new multifamily rental affordable and supportive housing.

First, the County will not meet the goal of building 1,600 RRH units. If all expected developments are built and the estimated number of rapid rehousing units does not change, the County would meet approximately 60% of the Housing Bond goal for rapid rehousing. Technically, rapid rehousing units are not physically different from other affordable and supportive housing units.

However, the financing structure was a new concept for developers and other lenders, which created hesitation to include RRH units in earlier proposals Second, an ancillary implementation goal has been the County’s establishment of at least one Housing Bond-funded development in each of the 15 incorporated cities in the county. To date, the County has funded a development in 11 of the 15 cities. The remaining cities include the Town of Los Altos Hills, Monte Sereno, the Town of Los Gatos, and Saratoga. Currently the Administration is engaged in conversations with the development community about possible developments in Los Gatos and Saratoga.

To date, the Board has approved Housing Bond funding to develop 4,744 multifamily rental “goal” units across 11 cities in the county. In 2017, the Administration set a goal of having at least one project in each County Supervisorial District, each of the 15 incorporated cities, and each San José City Council District. The County has met the goal of having an affordable housing development in each supervisorial district, in 11 of the 15 incorporated cities, and in seven out of 10 San José City Council districts.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 22 of 42
Table 3c: Geographic Distribution of Approved and Proposed Projects Source: Office of Supportive Housing
Table 3c above shows the County’s progress towards the unit goals in each of the 15 cities and the unincorporated county, and the amount of Housing Bond funds that have been committed to approved projects to date. The status of the County- and VTA-controlled properties is shown in Attachment E.

As noted in Table 1 above, $52,585,510 in the Mixed Income Housing category and $22,506,791 in the Multifamily Rental Affordable and Supportive Housing category is not yet committed and these funds and expected units are not shown in Table 3b. The Board has prioritized these funds, however, for the remaining multifamily rental VTA MOU properties and for the development of three County-controlled properties: 1) 1870 and 1888 Senter Road, San José, 2) 8th and Alexander, Gilroy, and 3) Cupertino Housing. Administration will update Table 4c as more information becomes available for the VTA-controlled properties and County-Led Sites.

C. Observations and Assessments
Project Financing Trends Over Time
Since the implementation of the Housing Bond, the total development cost to produce new affordable and supportive housing units has steadily increased - an increase primarily due to rising interest rates and labor and material costs. However, the County has managed to keep its contribution relatively constant. As a result, increasing pressure is being placed on our local affordable housing developers to leverage other local and State funds at an increasing rate. Chart 1 shows the County’s average commitments of Housing Bond and other funds for projects approved under the County’s Notice of Funding Availability (NOFA) compared to the projects’ Jurisdiction No. of Goal Units
No. of Approved
and Proposed
Goal Units
Current %
Complete
Current Hosing
Bond
Commitment
Campbell 106 60 57% $2,130,000
Cupertino 157 18 11% $1,000,000
Gilroy 132 44 33% $7,500,000
Los Altos 78 57 73% $15,926,082
Los Altos Hills 22 - - -
Los Gatos 79 - - -
Milpitas 180 345 192% $65,477,689
Monte Sereno 9 - - -
Morgan Hill 102 164 161% $37,863,000
Mountain View 199 408 205% $77,750,000
Palo Alto 173 127 73% $13,000,000
San José 2,548 2,901 114% $383,883,938
Santa Clara 315 489 155% $86,090,000
Saratoga 80 - - -
Sunnyvale 377 131 35% $2,200,000
Unincorporated 243 - - -
Total 4,800 4,744 99% $692,820,709
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 23 of 42
average total development costs by year. The commitments and total development costs are compared at the time of project approval by the Board.

Chart 1: Housing Bond Commitments vs. Estimated Cost
Source: Office of Supportive Housing.

Project Delivery Trends Over Time
The County continues to make progress towards the “goal units” in the Multifamily Rental Affordable and Supportive Housing project category. A few Housing Bond-funded projects initially started operations in 2019, with a steady and consistent increase in completed projects and units in operations, which is projected to continue through 2027. Table 4a below shows the number of actual “goal units” completed by year. Table 4a summarizes the actual and projected completions for the “goal units.” Tables 4b and 4c show projected completions for projects that have received Board approval but have not completed construction.

Table 4b: Actual “Goal Units” Completions for Projects in Operations Source: Office of Supportive Housing.

Table 4c: Projected “Goal Units” Completions for Projects with All Financing/Under Construction
Source: Office of Supportive Housing.

Table 4d: Projected Completion of “Goal Units” for Approved Projects Pursuing Financing
Source: Office of Supportive Housing.

Chart 2 and Chart 3 depict the actual or projected number of “goal units” completed by year for projects that have received Board approval. As noted above, the Administration tracks the County’s projected future pipeline.

Unit Type Goal 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Total PSH 1,800 109 87 414 215 392 190 166 42 114 48 23 1,800 RRH 1,600 - - - 14 23 58 205 93 125 82 51 651
ELI 800 - 26 57 136 130 88 105 101 149 69 44 905
VLI 600 23 83 79 70 83 156 271 108 246 101 168 1,388
Total 4,800 132 196 550 435 628 492 747 344 634 300 286 4,744 Unit Type Goal 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Total PSH 1,800 109 87 414 215 392 190 - - - - - 1,407
RRH 1,600 - - - 14 23 58 - - - - - 95
ELI 800 - 26 57 136 130 88 - - - - - 437
VLI 600 23 83 79 70 83 156 - - - - - 494
Total 4,800 132 196 550 435 628 492 - - - - - 2,433
Unit Type Goal 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Total PSH 1,800 - - - - - - 120 42 70 - 232
RRH 1,600 - - - - - - 205 93 20 - 318
ELI 800 - - - - - - 105 101 46 - 252
VLI 600 - - - - - - 227 108 73 - 408
Total 4,800 - - - - - - 657 344 209 - - 1,210
Unit Type Goal 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Total PSH 1,800 - - - - - - 46 - 44 48 23 161
RRH 1,600 - - - - - - - - 105 82 51 238
ELI 800 - - - - - - - - 103 69 44 216
VLI 600 - - - - - - 44 - 173 101 168 486
Total 4,800 - - - - - - 90 - 425 300 286 1,101

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 26 of 42
The above charts indicate that the County is on track to meet the 4,800 Multifamily Rental Affordable and Supportive Housing unit goal in aggregate, while highlighting the need for additional rapid rehousing units.

Areas of Potential Risk
Administration has previously identified four key areas of risk to the implementation of the Housing Bond and the delivery of units: land use approval, soft financing commitments, obtaining tax credit allocations, and the delivery of units on County-owned land for which a developer has not been selected. During the initial years of implementing the Housing Bond, most projects were pursuing land use approval. In recent years with the implementation of streamlining policies, land use approval in most local cities has become faster and more predictable. As a result, it is no longer a key factor driving when units are delivered or a key risk. As Housing Bond funds have become fully committed, more projects have needed to rely on State soft financing, State tax credits, and other alternative funding sources. Due to the competitiveness of tax credits, some years have had “log jams” of many Housing Bond funded projects applying for tax credits. As shown in Chart 4, the main area of risk for Housing Bond funded projects is now obtaining financing commitments prior to construction, however, there are a number of other specific factors impacting the delivery and timing of unit completions.

Chart 4: Board Approved “Goal Unit” Status by Year
Source: Office of Supportive Housing.

Financing Commitments
Obtaining financing commitment prior to construction is a key risk for Housing Bond funded projects. However, the availability of the short- and long-term availability of these sources is uncertain and dependent on the annual State budget and proposed legislation. The currently proposed State budget includes limited funding for the production of affordable and supportive housing. If approved as currently proposed, many current State programs would not be funded next year. The availability of Federal funding sources, including the Community Development Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 27 of 42
Block Grant (CDBG), HOME Investment Partnership (HOME) Program, Project Based Vouchers (PBVs), and Federal tax credits has remained relatively constant in prior years, but new Federal policies may put these and other Federal sources at risk.

Other Risk Factors
In addition to risks related to financing commitments, there are a number of other risks which could potentially impact the delivery and timing of unit completions. For example, the California wildfires are contributing to rising insurance costs which may lead to new building code changes. The State-wide insurance crisis may result in some developments being unable to obtain the necessary insurance for construction and/or operations. New Federal policies may result in reduced access to construction labor and new tariffs may lead to significant cost increases for construction materials, which could make proposed projects less competitive for funding.

Table 5 shows the key area(s) of risk and estimated risk level for all Housing Bond funded multifamily rental affordable and supportive housing developments by project status.

Table 5: Risk Level of Approved and Future Pipeline Units D. Fiscal Year 2024-2025 Quarter 3 Updates
During the third quarter of Fiscal Year 2024-2025, the Board approved one proposed project on County-owned land and OSH focused on supporting three tax credit and bond applications, two applications for CalHFA’s Mixed-Income Program, and one Homekey+ application. • Homeownership Program Updates
o Three new loans were issued through the Empower Homebuyers SCC program this quarter.
o The County issued one loans to a homebuyer in the City of Milpitas through the BMR Partnership Program, however, this loan was funded with CalHome funding and additional Housing Bond funds were not needed. Administration has issued two pre-approval letters to households in Sunnyvale and four pre-approval letters Project Status No. of
Projects
Committed
Housing Bond
Funds
No. of
Units
No. of
"Goal
Units"
Key Area(s)
of Risk
Estimated
Risk Level
County-Acquired Property -
Developer Not Selected 2 $38,053,000 TBD TBD
Projects Waiting for Land
Use Approval 6+ $70,609,167 TBD TBD
County-Acquired Property
With Land Use Approvals 2 $6,500,000 178 TBD
Other VTA MOU Multifamily
Rental Developments 2 $22,686,000 398 TBD
Approved Projects Applying
for Soft Financing 8 $73,539,800 876 645
Approved Project Waiting for
Tax Credit Allocations 7 $97,285,510 559 456 Costs /
Financing Low
Total 27+ $308,673,477 2,011 1,101 - -
Schedule /
Delivery
Costs /
Financing
High
Medium
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 28 of 42
to households in the City of San Jose. The County is discussing additional potential home partnerships through this program with the Cities of Mountain View and Santa Clara.
o The Board approved updated program guidelines for the BMR Partnership Program, which allow local jurisdictions and other eligible agencies to use available program funds to acquire homes through their local homeownership programs and repay the program when these homes are sold in accordance with program requirements. On March 26, 2025, Administration issued a $520,354 acquisition loan to the City of Gilroy to help them acquire one home in their existing single family loan portfolio which will be sold to an eligible household through the BMR Partnership Program.
• Affordable Home Production Updates
o 4th and Reed has secured all financing, the existing building has been set on its permanent foundation, and site remediation and site work are complete. The internal rehabilitation of the units is in process.
o Jackson Avenue Townhomes is fully entitled and is working on its building permit submittal.
o Santa Clara Valley Transportation Authority (VTA) continues to work in partnership with Charities Housing to develop the schematic design and pro forma for a potential 100% affordable, owner-occupied housing development at the VTA Branham Station TOD site. The VTA and Charities Housing executed the LeaseOption Agreement for the site. o The E. Santa Clara Street development has received land use approval and is developing potential financing plans.

• Mixed Income Rental Housing Updates
o 231 Grant Avenue development in Palo Alto started construction in July 2023 and the project is expected to be complete in Summer 2025.
o In January 2025, the Board approved changes to the proposed Gateway Tower development. The project has applied for funding through CalHFA’s Mixed-Income Program.
• Multifamily Rental Affordable and Supportive Housing
o Approved Projects
 The Board approved the development of one proposed project on Countycontrolled land. o Applied for Additional Soft Funding
 Two projects with approved Housing Bond funds applied for an allocation of 4% tax credits and bonds in January 2025 and one project applied for 9% tax credits in March 2025, requesting a combined total of $10,322,880 in annual Federal credits, $6,410,282 in State credits, and $85,692,000 in tax-exempt bonds (which become a lower cost construction loan for these developments). If these projects are approved, this would result in approximately $92,905,920 in tax credit equity being contributed toward the projects.
 Two projects applied for a total of $71,880,000 in permanent financing and $194,848,957 in Federal and State Tax Credits from CalHFA's MixedIncome Program.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 29 of 42
 One project applied for up to $40 million in Homekey+ funding from the State of California.
o Obtained All Financial Commitments
 The Magnolias and Lupina Apartments were awarded tax credit allocations in December 2024.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 30 of 42
Appendix 1 - BACKGROUND
Purpose of the Measure A Affordable Housing Bond Program Generate up to $950 million through the issuance of general obligation bonds for the acquisition or improvement of real property in order to provide affordable local housing for vulnerable populations within Santa Clara County. The Program does not fund affordable housing projects per se, but uses the bond proceeds as leverage to attract developers to finance and build affordable housing.

Purpose of the Independent Citizens’ Oversight Committee In accordance with County Ordinance No. NS-300.902, the Committee was formed to serve as an advisory body to the County Board of Supervisors over the implementation of the Program with the following purpose:

1. To advise on whether the County is spending the bond proceeds for the stated purpose approved by voters and not for any other purpose;

2. To advise on whether the County has been spending bond proceeds efficiently, effectively, and in a timely manner;

3. To advise on whether the County’s issuance of bond proceeds and temporary investment of bond proceeds has been fiscally sound;

4. To recommend any changes to the County’s implementation of the Housing Bond in order to ensure that bond proceeds are spent for the stated purpose approved by voters; and

5. To conduct an annual review of the report issued by the County describing the amount of funds collected and expended, and the status of any project required or authorized to be funded.

Performance Dashboards
MGO collaborated with the Subcommittee of the Citizens’ Oversight Committee, the County’s Office of Supportive Housing, and the County’s Finance Agency to develop user-friendly and easily understandable dashboards that assist in presenting Program data and operational performance in order to promote accountability and transparency. The performance dashboards are located on the County’s Office of Supportive Housing’s website at https://www.sccgov.org/sites/osh/Pages/home.aspx.

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 31 of 42
Appendix 2 – Glossary of Technical Terms
• Construction Completion – Construction completion refers to a project being issued a Temporary Certificate of Occupancy by the local building department. • County-Led – The County has a variety of County-controlled and County-owned properties, some of which are suitable for residential development. The County has established a process to give the community an opportunity to work in partnership with the County to develop these sites with affordable housing, which is referred to as the “County-Led” development program. • Notice of Funding Availability – The County released the over-the-counter Supportive Housing Development Fund Notice of Funding Availability in 2017 to offer affordable housing developers an opportunity to apply for Housing Bond and other OSH funding sources which can be used to develop affordable housing.
• Permanent Financing – Permanent financing means one or more long term loans on completed affordable housing developments or other commercial real estate projects to cover development and/or operating costs. In most cases, Housing Bond funds are used to issue construction loans which convert to permanent loans once a project is complete and stabilized.
• Predevelopment Financing – Predevelopment financing is the critical piece of early funding that developers need to get a project from acquisition or site control to the start of construction.

During this time, affordable housing developers must cover a wide variety of expenses such as architectural and engineering fees, acquisition costs, and third-party consultants, before the majority of project’s funding sources are committed. • Rapid Rehousing (RRH) - RRH is a type of housing assistance which helps individuals and families quickly exit homelessness by providing housing navigation, rental assistance, and supportive services. The County has had a scattered-site RRH program since 2015, in which programs help participants quickly identify and secure housing units in the community, while providing supportive services such as case management, connection to benefits, employment services, and more. In RRH programs, residents stay in their housing units and take over the full lease rent when their participation in the program ends. Residents participate in the County’s scattered-site RRH programs for up to two years.

In 2017, the County began a new pilot program to work with our local affordable housing developers to include site-based RRH within their proposed developments. These units are physically the same as other affordable housing units and the County provides supportive services and a rental subsidy to the tenants for up to two years. This differs from permanent supportive housing units funded by the County, which are commonly paired with supportive services and Project Based Vouchers (PBVs) on an ongoing basis. After the RRH subsidy ends, the unit then transitions to an affordable unit at 30% AMI. • Soft Financing – A type of funding provided by federal, state and local government programs for the development of affordable housing. Soft loans or soft loan financing typically offer terms more generous or lenient than the market, such as low interest rates, provisions for subordination to primary financing, provisions for due on sale or refinancing, extended periods when only interest or service charges are due, extended repayment periods, and loans which are payable, if at all, out of net cash flow (sometimes referred to as "residual receipts").

Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 32 of 42
Attachment A – Homeownership Programs Summary
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 33 of 42
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 34 of 42
Attachment B – Approved Homeownership Production Project Status Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 35 of 42
Attachment C – Approved Mixed Income Housing Development Project Status Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 36 of 42
Attachment D – Approved Affordable and Supportive Housing Development Project Status
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 37 of 42
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 38 of 42
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 39 of 42
Attachment E – County-Owned and Partnership Project Status Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 40 of 42
Attachment F – Santa Clara County Measure A Housing Projects # Project Category City Location
Estimated
Date of
Occupancy Project Name
Goal
Units
Non-Goal
Units
Total
Units
Estimated Total
Development Cost
Program
Committed
Funding Other Funding
Estimated Total
Cost Per Unit
Program's
Estimated Cost
Per Unit
Program's
Committed
Funding per Est.

Total Cost
Total Program
Funds Expended
Remaining
Program Funds
Committed
Measure A
Leveraging
Ratio
1 Homeownership
Proudction* San Jose 04/2025 4th and Reed - 4 4 $ 2,977,773 $ 1,000,000 $ 1,977,773 $ 744,443 $ 250,000 33.58% $ - $ 1,000,000 1.98 2 Supportive Housing Mountain View 03/2026 Lot 12 80 40 120 115,683,548 16,750,000 98,933,548 964,030 139,583 14.48% - 16,750,000 5.91 3 Homeownership
Proudction* San Jose 03/2026 Jackson Avenue Townhomes - 14 14 13,306,518 4,000,000 9,306,518 950,466 285,714 30.06% - 4,000,000 2.33 4 Supportive Housing San Jose 05/2026 Lupina Apartments 82 17 99 104,007,942 24,085,510 79,922,432 1,050,585 243,288 23.16% - 24,085,510 3.32 5 Supportive Housing Los Altos 07/2026 330 Distel Circle 57 33 90 93,484,256 15,926,082 77,558,174 1,038,714 176,956 17.04% 8,095,235 7,830,847 4.87 6 Supportive Housing San Jose 08/2026 Casa de Novo - - TBD 13,300,000 4,366,667 8,933,333 TBD TBD 32.83% 4,366,667 - 2.05 7 Supportive Housing Santa Clara 09/2026 Clara Gardens 66 54 120 107,458,604 14,040,000 93,418,604 895,488 117,000 13.07% 4,780,100 9,259,900 6.65 8 Supportive Housing Santa Clara 10/2026 Civic Center
Multifamily 106 2 108 107,716,198 12,100,000 95,616,198 997,372 112,037 11.23% 12,100,000 - 7.90 9 Supportive Housing Mountain View 10/2026 96 El Camino Real Family Apartments 40 39 79 82,939,667 5,500,000 77,439,667 1,049,869 $ 69,620 6.63% - $ 5,500,000 14.08 10 Supportive Housing San Jose 10/2026 Santa Teresa
Multifamily 48 1 49 43,566,076 4,000,000 39,566,076 889,104 $ 81,633 9.18% 3,055,539 $ 944,461 9.89 11 Supportive Housing San Jose 11/2026 Algarve Apartments 90 1 91 64,635,282 22,250,000 42,385,282 710,278 244,505 34.42% 8,019,195 14,230,805 1.90 12 Supportive Housing Morgan Hill 12/2026 The Magnolias 61 5 66 64,368,522 23,700,000 40,668,522 975,281 359,091 36.82% - 23,700,000 1.72 13 Supportive Housing San Jose 04/2027 Kooser Apartments 110 81 191 163,117,001 1,000,000 162,117,001 854,016 $ 5,236 0.61% - $ 1,000,000 - 14 Supportive Housing San Jose 05/2027 525 N Capitol 99 61 160 121,507,580 1,000,000 120,507,580 759,422 $ 6,250 0.82% - $ 1,000,000 120.51 15 Supportive Housing Palo Alto 06/2027 El Camino Real
Multifamily Project 127 2 129 121,440,498 13,000,000 108,440,498 941,399 $ 100,775 10.70% 12,831,040 $ 168,960 8.34 16 Mixed Income San Jose 07/2027 Gateway Tower - 165 165 20,000,000 24,414,490 (4,414,490) not included 147,967 not included 4,845,333 19,569,157 (0.18) 17 Supportive Housing San Jose 07/2027 Gateway Tower - 55 55 223,010,412 1,000,000 222,010,412 4,054,735 18,182 0.45% 13,324,667 (12,324,667) 222.01 18 Supportive Housing Mountain View 08/2027 1020 Terra Bella 67 41 108 107,437,479 10,500,000 96,937,479 994791.4722 97,222 $ 9.77% - $ 10,500,000 9.23 19 Supportive Housing Milpitas 01/2028 The Mil on Main 120 100 220 187,764,517 19,300,000 168,464,517 853,475 87,727 10.28% 11,959,641 7,340,359 8.73 20 Supportive Housing San Jose 08/2028 Winchester Boulevard Apartments 99 2 101 93,404,192 2,469,800 90,934,392 924,794 24,453 2.64% 7,164,103 (4,694,303) 36.82 21 Supportive Housing Campbell 07/2029 Winchester Station Affordable TOD 60 30 90 100,085,027 2,130,000 97,955,027 1,112,056 23,667 2.13% - 2,130,000 45.99 TOTAL PRE-DEVELOPMENT 1,550 509 2,059 $ 1,951,211,092 $ 222,532,549 $ 1,728,678,543 $ 20,760,318 $ 2,590,907 3 $ 90,541,520 $ 131,991,029

ATTACHMENT F

SANTA CLARA COUNTY MEASURE A

PRE-DEVELOPMENT HOUSING PROJECTS
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 41 of 42
# Project Category City Location
Estimated
Date of
Occupancy Project Name
Goal
Units
Non-Goal
Units
Total
Units
Estimated Total
Development Cost
Program
Committed
Funding Other Funding
Estimated Total
Cost Per Unit
Program's
Estimated Cost
Per Unit
Program's
Committed
Funding per Est.

Total Cost
Total Program
Funds Expended
Remaining
Program Funds
Committed
Measure A
Leveraging
Ratio
1 Supportive Housing San Jose 08/2024 Mariposa Place 79 1 80 51,687,253 9,300,000 42,387,253 646,091 116,250 17.99% 9,300,000 - 4.56 2 Supportive Housing San Jose 03/2025 Alum Rock Multifamily 59 1 60 47,804,774 11,600,000 36,204,774 796,746 193,333 24.27% 16,525,828 (4,925,828) 3.12 3 Mixed Income Palo Alto 07/2025 231 Grant Avenue 110 - 110 94,676,979 6,000,000 88,676,979 860,700 54,545 6.34% 6,000,000 - 14.78 4 Supportive Housing San Jose 08/2025 Madrone Place 102 52 154 139,383,616 29,720,215 109,663,401 905,088 192,988 21.32% 28,118,194 1,602,021 3.69 5 Supportive Housing San Jose 10/2025 Alvarado Park 71 19 90 69,611,725 6,400,000 63,211,725 773,464 71,111 9.19% 5,755,967 644,033 9.88 6 Supportive Housing San Jose 10/2025 The Charles 97 2 99 78,729,074 12,480,000 66,249,074 795,243 126,061 15.85% 11,802,001 677,999 5.31 7 Supportive Housing Mountain View 11/2025 La Avenida Apartments 89 11 100 78,077,678 19,000,000 59,077,678 780,777 190,000 24.33% 18,351,000 649,000 3.11 8 Supportive Housing San Jose 01/2026 Tamien Station TOD 67 68 135 100,867,325 25,000,000 75,867,325 747,165 185,185 24.79% 22,499,999 2,500,001 3.03 9 Supportive Housing San Jose 01/2026 Parkmoor Community Apartments (The Hub) 64 17 81 78,442,868 18,000,000 60,442,868 968,430 222,222 22.95% 10,185,939 7,814,061 3.36 10 Supportive Housing Mountain View 03/2026 Montecito 84 1 85 88,473,636 18,000,000 70,473,636 1,040,866 211,765 20.35% 11,021,702 6,978,298 3.92 11 Supportive Housing Sunnyvale 01/2027 Ira D. Hall Square 131 45 176 144,652,410 2,200,000 142,452,410 821,889 12,500 1.52% 2,200,000 - 64.75 12 Supportive Housing San Jose 08/2026 Hawthorn Senior
Apartments 101 2 103 76,107,250 15,550,000 60,557,250 738,905 150,971 20.43% 199,642 15,350,358 3.89 TOTAL CONSTRUCTION 1,054 219 1,273 $ 1,048,514,588 $ 173,250,215 $ 875,264,373 $ 9,875,365 $ 1,726,932 16.52% 141,960,272 $ $ 31,289,943

ATTACHMENT F

SANTA CLARA COUNTY MEASURE A

IN CONSTRUCTION HOUSING PROJECTS
Citizens’ Oversight Committee
County of Santa Clara Measure A 2016 Affordable Housing Bond Program Independent Advisor’s Third Quarter Report for FY 2024-25 MGO Advisory Page 42 of 42
# Project Category City Location
Estimated
Date of
Occupancy Project Name
Goal
Units
Non-Goal
Units
Total
Units
Estimated Total
Development Cost
Program
Committed
Funding Other Funding
Estimated Total
Cost Per Unit
Program's
Estimated Cost
Per Unit
Program's
Committed
Funding per Est.

Total Cost
Total Program
Funds Expended
Remaining
Program Funds
Committed
Measure A
Leveraging
Ratio
1 Supportive Housing San Jose 04/2024 Solaire Apartments 107 23 130 $ 92,062,481 $ 13,200,000 $ 78,862,481 $ 708,173 $ 101,538 14.34% 13,200,000 $ $ - 5.97 2 Supportive Housing Santa Clara 04/2024 Kifer Senior
Apartments 79 1 80 59,016,497 7,400,000 51,616,497 737,706 92,500 12.54% 7,400,000 - 6.98 3 Supportive Housing San Jose 04/2024 Blossom Hill Housing 145 2 147 79,676,906 19,100,000 60,576,906 542,020 129,932 23.97% 19,100,000 - 3.17 4 Supportive Housing Santa Clara 12/2023 Agrihood Senior Apartments 108 57 165 83,273,350 23,550,000 59,723,350 504,687 142,727 28.28% 23,550,000 - 2.54 5 Supportive Housing San Jose 11/2023 Vitalia 43 36 79 64,054,314 15,800,000 48,254,314 810,814 200,000 24.67% 15,800,000 - 3.05 6 Supportive Housing Milpitas 11/2023 Sango Court 93 9 102 72,488,258 16,000,000 56,488,258 710,669 156,863 22.07% 16,000,000 - 3.53 7 Supportive Housing San Jose 11/2023 Immanuel-Sobrato 106 2 108 73,548,992 16,654,646 56,894,346 681,009 154,210 22.64% 15,459,999 1,194,647 3.42 8 Supportive Housing San Jose 08/2023 Villas at 4th St. 93 1 94 46,811,323 7,500,000 39,311,323 497,993 79,787 16.02% 7,500,000 - 5.24 9 Supportive Housing San Jose 04/2023 Page Street
Apartments 81 1 82 55,178,667 14,000,000 41,178,667 672,911 170,732 25.37% 14,000,000 - 2.94 10 Supportive Housing San Jose 04/2023 Mesa Terrace 40 6 46 33,741,318 2,600,000 31,141,318 733,507 56,522 7.71% 2,600,000 - 11.98 11 Supportive Housing San Jose 03/2023 Vela Apartments 69 18 87 61,433,464 15,650,000 45,783,464 706,132 179,885 25.47% 9,791,833 5,858,167 2.93 12 Supportive Housing San Jose 11/2022 Markham II 151 1 152 26,593,698 7,200,000 19,393,698 174,959 47,368 27.07% 3,800,000 3,400,000 2.69 13 Supportive Housing Milpitas 09/2022 Hillview Court 132 2 134 80,300,000 30,177,689 50,122,311 599,254 225,207 37.58% 42,314,057 (12,136,368) 1.66 14 Supportive Housing San Jose 08/2022 Iamesi Village 134 1 135 69,418,863 10,327,100 59,091,763 514,214 76,497 14.88% 10,327,100 - 5.72 15 Supportive Housing Santa Clara 03/2022 Calabazas Apartments 130 15 145 104,480,486 29,000,000 75,480,486 720,555 200,000 27.76% 29,000,000 - 2.60 16 Supportive Housing San Jose 01/2022 Quetzal Gardens 47 24 71 63,630,448 9,830,000 53,800,448 896,203 138,451 15.45% 9,830,000 - 5.47 17 Supportive Housing San Jose 01/2022 Curtner Studios 178 1 179 14,995,679 14,950,000 45,679 83,775 83,520 99.70% 13,036,104 1,913,896 0.00 18 Supportive Housing San Jose 07/2021 Leigh Avenue Senior Apartments 63 1 64 50,348,927 13,500,000 36,848,927 786,702 210,938 26.81% 13,500,000 - 2.73 19 Supportive Housing San Jose 03/2021 Markham I 152 1 153 26,809,742 7,000,000 19,809,742 175,227 45,752 26.11% 5,700,000 1,300,000 2.83 20 Supportive Housing Gilroy 07/2020 Gateway Senior
Apartments 44 31 75 34,972,249 7,500,000 27,472,249 466,297 100,000 21.45% 7,500,000 - 3.66 21 Supportive Housing Morgan Hill 01/2020 Crossings on Monterey 31 8 39 26,056,436 5,800,000 20,256,436 668,114 148,718 22.26% 5,800,000 - 3.49 22 Supportive Housing San Jose 10/2019 Villas on the Park 83 1 84 41,955,319 7,200,000 34,755,319 499,468 85,714 17.16% 7,200,000 - 4.83 23 Supportive Housing Cupertino 06/2019 The Veranda 18 1 19 11,937,416 1,000,000 10,937,416 628,285 52,632 8.38% 1,000,000 - 10.94 24 Supportive Housing Morgan Hill 07/2024 Royal Oak Village 72 1 73 49,438,333 8,363,000 41,075,333 $ 677,237 114,562 16.92% 7,954,100 408,900 4.91 25 Supportive Housing San Jose 07/2024 Sunrise Pavillion 21 1 22 $ 32,087,550 $ 1,000,000 $ 31,087,550 $ 1,458,525 $ 45,455 3.12% $ 580,000 $ 420,000 31.09 26 Supportive Housing Mountain View 08/2024 The Heartwood Apartments 48 1 49 39,455,959 8,000,000 31,455,959 805,224 142,857 17.74% 5,669,307 2,330,693 3.93 27 Supportive Housing San Jose 11/2024 Roosevelt Park 60 20 80 69,658,643 14,400,000 55,258,643 870,733 180,000 20.67% 14,400,000 - 3.84 28 Supportive Housing San Jose 11/2025 Bellarmino Place 105 11 116 96,736,665 5,750,000 90,986,665 833,937 49,569 5.94% 5,181,992 568,008 15.82 TOTAL COMPLETED 2,433 277 2,710 $ 1,560,161,983 $ 332,452,435 $ 1,227,709,548 $ 18,164,328 $ 3,411,933 21.31% 327,194,491 $ $ 5,257,943 TOTAL PROGRAM HOUSING PROJECTS 5,037 1,005 6,042 $ 4,559,887,663 $ 728,235,199 $ 3,831,652,464 $ 754,698 $ 120,529 15.97% 559,696,283 $ $ 168,538,915 5.26

ATTACHMENT F

SANTA CLARA COUNTY MEASURE A

COMPLETED HOUSING PROJECTS

COUNTY OF SANTA CLARA

HOUSING BOND PROJECTS FUNDS
(Funds of the County of Santa Clara)
For the Year Ended June 30, 2024
Table of Contents
Page
Independent Auditor’s Report ................................................................................................................... 1 Financial Statements:

Combining Balance Sheet .................................................................................................................................. 3 Combining Statement of Revenues, Expenditures, and Changes in Fund Balances ......................................... 4 Notes to the Financial Statements ..................................................................................................................... 5 Other Reports
Independent Auditor’s Report on Internal Control Over Financing Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards ........................................................... 11 Independent Accountant’s Report on Compliance with Measure A (2016 Housing Bond) ....................... 13 www.mgocpa.com
Macias Gini & O’Connell LLP
1 Independent Auditor’s Report
The Honorable Board of Supervisors
Members of the Measure A (2016 Housing Bond)
Independent Citizens’ Oversight Committee
County of Santa Clara
San José, California
Report on the Audit of the Financial Statements
We have audited the financial statements of the Housing Bond Projects Funds (Funds), funds of the County of Santa Clara, California (County), as of and for the year ended June 30, 2024, and the related notes to the financial statements, which collectively comprise the Funds’ financial statements as listed in the table of contents.

In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the Funds as of June 30, 2024, and the changes in financial position thereof for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States (Government Auditing Standards). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the County and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of a Matter
As discussed in Note 2 to the financial statements, the financial statements present only the Funds and do not purport to, and do not, present fairly the financial position of the County as of June 30, 2024, the changes in its financial position, or where applicable, its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Our opinion is not modified with respect to this matter.

Management’s Responsibilities for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Special Revenue Debt Service Capital Projects Total
Assets:

Cash and investments - $ 92,921 $ - $ 92,921 $
Receivables:

Interest - 1,161 - 1,161
Loans 364,897 - - 364,897
Due from other funds - housing bond - - 15,502 15,502
Total assets 364,897 $ $ 94,082 $ 15,502 $ 474,481
Liabilities, Deferred Inflows of
Resources, and Fund Balances:

Liabilities:

Accounts payable $ 8,640 $ 361 $ - $ 9,001
Due to other funds - housing bond 15,502 - - 15,502
Due to other funds - County 5,459 - - 5,459
Total liabilities 29,601 361 - 29,962
Deferred inflows of resources:

Unavailable revenue 364,897 - - 364,897
Fund balances:

Restricted - 93,721 15,502 109,223
Unassigned (29,601) - - (29,601)
Total fund balances (deficit) (29,601) 93,721 15,502 79,622 Total liabilities, deferred inflows of
resources, and fund balances $ 364,897 $ 94,082 $ 15,502 $ 474,481 Combining Balance Sheet
(In thousands)

HOUSING BOND PROJECTS FUNDS

COUNTY OF SANTA CLARA
June 30, 2024
(Funds of the County of Santa Clara)
See accompanying notes to the financial statements.
3 Special Revenue Debt Service Capital Projects Total
Revenues:

Property taxes $ - $ 72,176 $ - $ 72,176
Interest and investment income 3,528 2,780 - 6,308
Intergovernmental - 168 - 168
Charges for services 83 - - 83
Other 17,983 - - 17,983
Total revenues 21,594 75,124 - 96,718
Expenditures:

Current - public assistance:

Housing Development Projects:

Vitalia Apartments 1,035 - - 1,035
La Avenida Apartments 3,341 - - 3,341
Algarve Apartments 878 - - 878
Alum Rock Multifamily 2,513 - - 2,513
Madrone Place 7,646 - - 7,646
Tamien Station TOD 14,720 - - 14,720
The Charles 6,102 - - 6,102
Royal Oak Village 1,858 - - 1,858
Bellaemino Place 1,356 - - 1,356
Alvarado Park 3,443 - - 3,443
Ira D. Hall Square 2,200 - - 2,200
The Mil on Main 11,960 - - 11,960
Parkmoor Community Apartment 5,183 - - 5,183
Montecito Multifamily 753 - - 753
East Santa Clara Street Site 429 - - 429
Housing Renovation Projects:

Hillview Court 947 - - 947
The Crestview 105 - - 105
Partnership projects 241 - - 241
First time homebuyer loan program 5,209 - - 5,209
Below market rate partnership program 185 - - 185
Project administration and others 243 - - 243
Capital outlay - property acquisitions:
10 Kirk Avenue 14,084 - - 14,084
Debt service:

Principal retirement - 66,040 - 66,040
Interest and fiscal charges - 8,704 - 8,704
Total expenditures 84,431 74,744 - 159,175
Excess (deficiency) of revenues
over (under) expenditures (62,837) 380 - (62,457)
Other financing sources (uses):

Transfers in 91,934 - - 91,934
Transfers out - - (91,934) (91,934)
Total other financing sources (uses) 91,934 - (91,934) - Change in fund balances 29,097 380 (91,934) (62,457)
Fund balances (deficit), beginning of year (58,698) 93,341 107,436 142,079 Fund balances (deficit), end of year $ (29,601) $ 93,721 $ 15,502 $ 79,622

COUNTY OF SANTA CLARA
(Funds of the County of Santa Clara)
Combining Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended June 30, 2024

HOUSING BOND PROJECTS FUNDS
(In thousands)
See accompanying notes to the financial statements.
4 COUNTY OF SANTA CLARA

HOUSING BOND PROJECTS FUNDS
(Funds of the County of Santa Clara)
Notes to the Financial Statements
For the Year Ended June 30, 2024
5 NOTE 1 – BACKGROUND
On November 8, 2016, the County of Santa Clara (County) voters approved Measure A, the Affordable Housing Bond Measure, authorizing the issuance of $950 million of general obligation bonds to fund the acquisition or improvement of real property in order to provide affordable local housing for vulnerable populations including veterans, seniors, the disabled, low and moderate income individuals or families, foster youth, victims of abuse, the homeless and individuals suffering from mental health or substance abuse illnesses, which housing may include supportive mental health and substance abuse services.

The table below sets forth the amount of housing bonds authorized and issued pursuant to Measure A (amounts in thousands):

Amount Date
Voter authorization $ 950,000 November 8, 2016
Bonds issued:
2017 Series A General Obligation Bonds 250,000 November 9, 2017 2021 Series B General Obligation Bonds 350,000 July 28, 2021 Total bonds issued 600,000
Authorized but unissued * $ 350,000
* 2024 Series C General Bonds of $350.0 million issued in August 2024. See Note 7.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The Housing Bond Projects Funds (Funds) have been accounted for in a special revenue fund, a debt service fund, and a capital projects fund, which are governmental fund types and are included in the County’s basic financial statements as nonmajor governmental funds. Special revenue funds are used to account for proceeds of specific revenues (other than for capital projects) that are legally restricted to be expended for specified purposes. Debt service funds are used to account for and report financial resources (e.g. property valorem property taxes) that are restricted, committed, or assigned to expenditure for principal and interest. Capital projects funds are used to account for financial resources (e.g. bond proceeds) that are restricted, committed, or assigned to expenditures for capital outlays and activities.

The accompanying financial statements present only the financial position and the changes in financial position of the Funds and do not purport to, and do not, present fairly the County’s financial position as of June 30, 2024 the changes in its financial position, or where applicable, its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

Basis of Accounting
The Funds’ activities are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Under this basis of accounting, revenues are recognized when “susceptible to accrual” (i.e., when they become both measurable and available). “Measurable” means the amount of the transaction can be determined and “available” means that revenues are collectible within

COUNTY OF SANTA CLARA

HOUSING BOND PROJECTS FUNDS
(Funds of the County of Santa Clara)
Notes to the Financial Statements (Continued)
For the Year Ended June 30, 2024
6 NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) the current period or soon enough thereafter to be used to pay liabilities of the current period. Property tax revenues are recognized in the current year if they are collected within 60 days of year-end. For all other revenues, the Funds consider revenues to be available if they are collected within 120 days of the end of the current fiscal period. Revenues not considered available are recorded as deferred inflows of resources.

Expenditures are generally recorded when a liability is incurred, as under accrual basis of accounting.

Property Tax Levy, Collection, and Maximum Rate
The State of California’s (State) Constitution, Article XIII A provides that the combined maximum amount of any ad valorem property tax rate on real property shall not exceed 1% of the full cash value of such property. This limitation shall not apply to ad valorem taxes or special assessments to pay the interest and redemption charges on indebtedness. Such indebtedness shall have voter approval unless incurred prior to June 6, 1978. Assessed value is calculated at 100% of market value as defined by Article XIII A and may be increased no more than 2% per year unless the property is sold or transferred.

Whenever there are changes in ownership, completed construction, or demolition, properties are subject to supplemental assessment based on the change in assessed valuation. Supplemental taxes are levied on the value change and prorated for the balance of the tax year. The State Legislature, through Assembly Bill 8 of 1979 and subsequent legislation, defined the methodology for distributing the 1% tax levy and collections among the County, cities, schools, and other local jurisdictions such as districts providing water, fire and library services.

The County assesses property values and levies, bills and collects the related taxes as follows:

Secured Unsecured
Lien dates……………… January 1 January 1
Levy dates……………… October 1 July 1
Due dates……………… 50% on November 1 Upon receipt of billing 50% on February 1
Delinquent after………… December 10 (for November) August 31 April 10 (for February)
Annually, the County’s Board of Supervisors sets the rates to be applied to the tax roll for the benefit of local taxing jurisdictions as provided by the State code. These taxes are secured by liens on the property being taxed. Taxes secured by land and improvements are levied on the Secured Tax Roll, while those taxes secured by personal property are levied on the Unsecured Tax Roll.

Loans Receivables
For the purpose of the financial statements, governmental expenditures relating to long-term loan receivables are charged to operations upon funding and the loans are recorded, net of an estimated allowance for potentially uncollectible loans, with an offset with deferred inflows of resources account.

The balance of the receivable includes loans that may be forgiven if certain terms and conditions of the loans are met.

COUNTY OF SANTA CLARA

HOUSING BOND PROJECTS FUNDS
(Funds of the County of Santa Clara)
Notes to the Financial Statements (Continued)
For the Year Ended June 30, 2024
7 NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Fund Balance
The balance sheets of governmental funds classify fund balances based primarily on the extent to which the Funds are bound to honor constraints on the specific purposes for which those funds can be spent. The Funds have restricted and unassigned fund balances at June 30, 2024. Restricted fund balance represents amounts that can be spent only for specific purposes stipulated by external parties, constitutionally, or through enabling legislation. Unassigned fund balance represents residual fund deficit of the governmental funds.

At June 30, 2024, the special revenue fund has a deficit fund balance of $29.6 million. The deficit is due primarily to expenditures incurred but not reimbursed by the capital projects fund. The deficit is expected to reduce in the following year through transfers of bond proceeds from the capital projects fund.

Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the reported amounts and disclosures. Accordingly, actual results may differ from those estimates.

NOTE 3 – CASH AND INVESTMENTS HELD BY COUNTY TREASURER
Cash and investments represent the Funds’ share of the County Treasurer’s pool. All of the Funds’ cash and investments are deposited in the County Treasurer’s pool. Investments in the pool are made in accordance with the County’s investment policy as approved by the Board of Supervisors. Also, the County has an investment committee, which performs regulatory oversight for its pool. Investments are stated at fair value. However, the value of the pool shares in the County Treasurer’s pool that may be withdrawn is determined on an amortized cost basis, which is different from the fair value of the Funds’ position in the pool. Interest earned from time deposits and investments is allocated quarterly to the Funds based on their average daily cash balances. At June 30, 2024, the County Treasurer’s pool has a weighted average to maturity of 548 days and is unrated. The Funds’ investments in the County Treasurer’s pool are exempt from fair value hierarchy disclosure. Detailed information about the County Treasurer’s pool can be found in the County’s basic financial statements that can be obtained from the County of Santa Clara, Director of Finance, 70 West Hedding Street, San José, California 95110.

NOTE 4 – INTERFUND BALANCES
At June 30, 2024, the special revenue fund owed $15.5 million to the capital projects fund and $5.5 million to the County’s General Fund which represent current borrowings for working capital expected to be repaid during the following year.

For the year ended June 30, 2024, the capital projects fund also transferred $91.9 million of bond proceeds to the special revenue fund for housing projects.

COUNTY OF SANTA CLARA

HOUSING BOND PROJECTS FUNDS
(Funds of the County of Santa Clara)
Notes to the Financial Statements (Continued)
For the Year Ended June 30, 2024
8 NOTE 5 – DEBT SERVICE
On November 9, 2017, the County issued the 2017 Series A Housing General Obligation Bonds (2017 Series A GO Bonds) in the amount of $250 million. The bonds bear fixed interest rates ranging from

1.65% to 3.55%, which are payable semi-annually commencing February 1, 2018, and have a final maturity of August 1, 2047. At June 30, 2024, the outstanding principal of the 2017 Series A GO Bonds was $88.5 million.

On July 28, 2021, the County issued the 2021 Series B GO Bonds in the amount of $350 million. The bonds bear fixed interest rates ranging from 1.35% to 2.87% which are payable semi-annually commencing February 1, 2024 and have a final maturity of August 1, 2047. At June 30, 2024, the outstanding principal of the 2021 Series B GO Bonds was $216.8 million.

Annual debt service requirements for the bonds are as follows (amount in thousands):

Year Ending June 30: Principal Interest Principal Interest Total 2025 1,460 $ 3,006$ $ 67,300 4,163$ 75,929$
2026 1,590 2,964 3,545 3,454 11,553
2027 1,725 2,917 3,760 3,381 11,783
2028 1,870 2,865 3,975 3,304 12,014
2029 2,020 2,806 4,205 3,236 12,267
2030-2034 12,625 12,939 24,360 16,067 65,991
2035-2039 17,750 10,395 30,980 12,476 71,601
2040-2044 24,255 6,724 39,315 8,487 78,781
2045-2048 25,170 1,850 39,360 2,329 68,709
Total $ 88,465 46,466$ $ 216,800 56,897$ 408,628$
2017 Series A GO Bonds 2021 Series B GO Bonds
The debt service fund accounts for the required principal and interest payments of the County’s Measure A housing general obligation bonds. Revenue sources consist of interest earnings and property tax revenue collected to service debt. Detailed information about the 2017 Series A GO Bonds and 2021 Series B GO Bonds can be found in the County’s basic financial statements.

COUNTY OF SANTA CLARA

HOUSING BOND PROJECTS FUNDS
(Funds of the County of Santa Clara)
Notes to the Financial Statements (Continued)
For the Year Ended June 30, 2024
9 NOTE 6 – PROJECTS COMITTMENTS
The County’s commitments for projects funded by the Funds as of June 30, 2024 were as follows (amount in thousands):

County Commitments
Project Name as of June 30, 2024
Supportive Housing - Housing
Trust Silicon Valley $ 11,900
Housing Development Projects:

Gateway Senior Apartments 7,500
Crossings on Monterey 5,800
Leigh Avenue Senior Apartments 13,500
Villas on the Park 7,200
The Veranda 1,000
Quetzal Gardens 9,830
Sango Court 16,000
Iamesi Village 10,327
Calabazas 29,000
Page Street Apartments 14,000
Agrihood Senior Apartments 23,550
Mariposa Plaza 9,300
Blossom Valley Senior Apartments 19,100
Vela Apartments 15,650
Roosevelt Park 14,400
Solaire Apartments 13,200
Mesa Terrance 2,600
Villas at 4th Street 7,500
Immanuel-Sobrato Apartments 16,655
Vitalia Apartments 15,800
Kifer Senior Apartments 7,400
La Avenida Apartments 19,000
Algarve Apartments 10,450
Gateway Tower 33,000
Alum Rock Multifamily 11,600
Madrone Place 29,720
Tamien Station TOD 25,000
The Charles 12,480
Royal Oak Village 8,363
Bellaemino Place 5,750
Hawthorn Senior Apartments 15,550
Lot 12 16,750
Alvarado Park 6,400
The Magnolias 23,700
Ira D. Hall Square 2,200
The Mil on Main 19,300
330 Distel Circle 15,926
Parkmoor Community Apartment 18,000
Clara Gardens 14,040
Almaden Affordable Housing 1,000
(Continued)

COUNTY OF SANTA CLARA

HOUSING BOND PROJECTS FUNDS
(Funds of the County of Santa Clara)
Notes to the Financial Statements (Continued)
For the Year Ended June 30, 2024
10 NOTE 6 – PROJECTS COMITTMENTS (Continued)
County Commitments
Project Name as of June 30, 2024
Housing Development Projects:

Civic Center Multifamily 12,100
Montecito Multifamily 18,000
525 N Capitol 4,000
1020 Terra Bella 10,500
El Camino Real Multifamily Project 13,000
96 El Camino Real Family Apartments 5,500
Santa Teresa Multifamily 4,000
Kooser Apartments 1,000
Winchester Boulevard Apartments 9,109
East Santa Clara Street Site 13,000
Housing Renovation Projects:

Markham I 7,000
Markham II 7,200
Curtner Studios 14,950
Hillview Court 30,178
Casa de Novo 4,367
The Crestview 8,000
Pavilion Inn 1,000
Mixed Income Rental Projects:

Gateway Tower 20,000
231 Grant Avenue 6,000
Homeownership Production Projects:

Jackson Avenue Townhomes 4,000
4th and Reed 1,000
East Santa Clara Street Site 6,500
Property Acquisitions:

Western Motel 9,000
Almaden Road 9,995
2001 The Alameda 14,903
1870& 1888 Senter Road 28,040
10 Kirk Avenue 14,540
Others 13,995
Partnership projects 800
Below market rate partnership program 1,000
First time homebuyer loan program 20,000
Total $ 872,118
NOTE 7 – SUBSEQUENT EVENT
Issuance of 2024 Series C Housing General Obligation Bonds On August 1, 2024, the County issued the 2024 Series C Housing General Obligation Bonds in the amount of $350.0 million. The bonds bear fixed interest rates ranging from 4.30% to 5.15% and have a final maturity date of August 1, 2047.
www.mgocpa.com
Macias Gini & O’Connell LLP
11 Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance With Government Auditing Standards The Honorable Board of Supervisors
Members of the Measure A (2016 Housing Bond)
Independent Citizens’ Oversight Committee
County of Santa Clara
San José, California
We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards), the financial statements of the Housing Bond Projects Funds (Funds), funds of the County of Santa Clara (County), as of and for the year ended June 30, 2024, and the related notes to the financial statements, and have issued our report thereon dated February 28, 2025.

Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the County’s internal control over the Funds’ financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the County’s internal control.

Accordingly, we do not express an opinion on the effectiveness of the County’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance.

Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.

Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the Funds’ financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. However, providing an opinion on compliance with those provisions was not an objective of our audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

14 This page is intentionally blank.

Public Record: 3

Aug 18, 2025
Consumer Protection and Enforcement Division
California Public Utilities Commission
505 Van Ness Avenue
San Francisco, CA 94102
[email protected]
RE: Notification Letter for CA_SJ_SANJOSE_WEST_206 - A
San Jose, CA /GTE Mobilnet California LP
This is to provide the Commission with notice according to the provisions of General Order No. 159A of the Public Utilities Commission of the State of California ( "CPUC") for the project described in Attachment A.

A copy of this notification letter is also being provided to the appropriate local government agency for its information. Should there be any questions regarding this project, or if you disagree with any of the information contained herein, please contact the representative below.

Verizon Wireless
Felipe Martinez
Coordinator RE & Compliance - West Territory
1515 Woodfield Road, #1400
Schaumburg, IL 60173
[email protected]

JURISDICTION PLANNING MANAGER CITY MANAGER CITY CLERK DIRECTOR OF SCHOOL BOARD COUNTY [email protected] [email protected] [email protected] [email protected] Santa Clara VZW Legal Entity Site Name Site Address Tower Design Size of Building or NA GTE Mobilnet California LP CA_SJ_SANJOSE_WEST_206 - A 1085 MINNESOTA AVE, San Jose , CA95125 Public Lighting Structure (free standing) Public Lighting Structure (free standin Site Latitude Site Longitude PS Location Code Tower Appearance Tower Height (in feet) Type of Approval Approval Issue Date 37°18'14.511''N 121°53'48.501''WNAD(83) 543147 Antenna/RRUs Mounted on City Light Pole 30.0 Permitting 07/18/2025 Project Description: Modification to Remove (3)(E) Antennas/Radios and Install (3)(N) Antennas/Radios

Aug 18, 2025
Consumer Protection and Enforcement Division
California Public Utilities Commission
505 Van Ness Avenue
San Francisco, CA 94102
[email protected]
RE: Notification Letter for CA_SJ_SANJOSE_WEST_150 - A
San Jose, CA /GTE Mobilnet California LP
This is to provide the Commission with notice according to the provisions of General Order No. 159A of the Public Utilities Commission of the State of California ( "CPUC") for the project described in Attachment A.

Verizon Wireless
Felipe Martinez
Coordinator RE & Compliance - West Territory
1515 Woodfield Road, #1400
Schaumburg, IL 60173
[email protected]

JURISDICTION PLANNING MANAGER CITY MANAGER CITY CLERK DIRECTOR OF SCHOOL BOARD COUNTY [email protected] [email protected] [email protected] [email protected] Santa Clara VZW Legal Entity Site Name Site Address Tower Design Size of Building or NA GTE Mobilnet California LP CA_SJ_SANJOSE_WEST_150 - A 3649 COMPTON LN, San Jose , CA95130 Public Lighting Structure (free standing) Public Lighting Structure (free standin Site Latitude Site Longitude PS Location Code Tower Appearance Tower Height (in feet) Type of Approval Approval Issue Date 37°17'54.392''N 121°57'56.96''WNAD(83) 517949 Antennas mounted on City Street light pole 30.0 Permitting 07/25/2025 Project Description: Remove (E) Street Light Pole and Install (N) Street Light Pole on (N) CIDH Pile Foundation • Remove (3) (E) Antenna/Radio and Install (3) (N) Antenna/Radio• Remove (E) FCC Sign and Install (N) FCC Sign• Install (N) Canister Antenna• Install (N) Radio• Remove (E) Meter and Disconnect and Install (N) Meter and Disconnect

Speech of Akos Szoboszlay to San Jose City Council on 08/12/2025 Repeal ordinance 11.32.070 (prohibition of pedestrians on expressways) Akos Szoboszlay
Contact: , email:

For detailed information, see: ModernTransit.org/2025/SJrepeal.pdf This speech is at: ModernTransit.org/2025/SJspeech.pdf
I have been the victim of police harassment for years, for bicycling in bike lanes. At the time, only expressways had bike lanes, then called “shoulders.” This Council, at my request in 1989, voted 11 to 0 to repeal the bicycle prohibition. I also lead the successful effort at the County Board of Supervisors, who voted to require bike lanes in 1989, required pedestrian paths in 1991, and approved sidewalks in 2008, on all expressways.

Highway staff of the County has used the City’s prohibition of pedestrians as a ruse, to refuse to comply with BOS requirements for pedestrian safety. For example, they killed multiple people by forcing them to step across train tracks and Monterey Highway, rather than use the safest crossing: the existing bridge on Capitol Expressway.

State law only authorized prohibiting pedestrians from freeways. Highway staff claimed, “Expressways are freeways.” I proved that to be a lie by forcing removal of Pedestrians Prohibited signs, which forced them to comply with safety requirements.

San Jose BPAC voted unanimously to request the Council to repeal City ordinance 11.32.070 that prohibits pedestrians. In San Jose, there are 23 miles of expressways, and 36 miles of arterial roads with the same speed limits, 45 or 50. Please correct this injustice and discrimination against people not using cars by repealing the ordinance.

I emailed details to the clerk.

This should be a crime.

We give the homeless money and they use it for rent to stay living in trailers that should not be on the streets.

Who takes care of this? We don’t want them back down here. We have flair ups now, we still haven’t cleared out this area.

We don’t need them coming back here, and all the mess they come with, along with trailers that shouldn’t be on the streets.

You can’t clear out an area and let them go back to another area that’s been semi cleared out.

That’s not making progress.

You now own this problem, and need to handle it by not let them tow those trailers out of that park.

You let these areas get out of hand, you let trailers and homeless move here and park on a curb, and nothing was done for years.

You now own it.

If they are unregistered, have flat tires and can’t move on their own, they need to be confiscated.

Pay them the $2000 and give them a place to live, isn’t that the plan???? Stop dumping on Bernal, Great Oaks area. You have ruined this area. All our hotels are unusable to family and
Friends who come to visit. We have homeless begging on corners all day long. Were about to loose a grocery store because
Of the homeless and not being able to get a handle on it.

You stuffed in so many tiny homes sites and safe parking all in a mile radius.

It was not done fairly. The homeless are roaming streets day and night even though they supposedly have a place to live.

Are you training them for that big paying job in Silicon Valley so they can move out and pay their own rent?
Are you drug testing them, are you counciling them? They can now do drugs in their own tiny home, how nice of you.

They do nothing for what you gave them. No, for what our tax dollars gave them.

They can stay there forever. Just keep building free places for them to live. Do you know how bad that looks on our
City officials, that you all made these decisions. You did not work for us, you worked for the homeless and screwed the tax payer.

As you can see from the attached pictures, we still have issues. And where are you? This is Bernal and Great Oaks. This week.

I will do my best to yell and screem about the crappy job you all do. None of you should be reelected.

What you did to small businesses here was wrong. You are hostile to small businesses.

Newspapers start reporting this correctly. Stop letting the mayor get in front of cameras and give grand stories
You all are buying.
8/20/25, 4:10 PM Mail - Rules and Open Government Committee Agendas - Outlook https://outlook.office365.com/mail/[email protected]/inbox/id/AAQkADhhYzk3NTk1LTBmZDAtNDc4Yi1hN2Q0LTZjNmZjNTk5MT… 2/3 This message is from outside the City email system. Do not open links or attachments from untrusted sources.

That’s not what is happening on the ground.

Because as budgets get cut from Washington, and they will, this whole house of cards is going to fall down.

Barbara Gallaty
Ace Seal LLC
8/20/25, 4:10 PM Mail - Rules and Open Government Committee Agendas - Outlook https://outlook.office365.com/mail/[email protected]/inbox/id/AAQkADhhYzk3NTk1LTBmZDAtNDc4Yi1hN2Q0LTZjNmZjNTk5MT… 3/3

Joint Meeting for the Rules and Open Government Committee and Committee of the WholeAugust 27, 2025

Joint Meeting for the Rules and Open Government Committee and Committee of the Whole
August 27, 2025