Alameda County Affordable Housing Bond
The way it is now:
In recent years, the cost of housing in Alameda County has become higher than many people can afford.
What Measure A1 would do:
Measure A1 would allow Alameda County to sell up to $580 million in bonds. By selling bonds, Alameda County would get up to $580 million to spend on:
• Construction of 8,500 units of affordable rental housing • Housing and services for homeless people
• Home-buying assistance for low-income and middle-income households
Measure A1 funds would be audited every year. A citizens’ oversight committee would make sure the money is used correctly.
To repay the bonds, Alameda County would increase property taxes. In 2017, property taxes would go up by a rate of $12.50 per $100,000 of assessed property value. This means that if the county assessor says a property is worth $300,000, the property owner will pay $37.50 in additional tax for Measure A1.
Property taxes would continue to go up in future years, but they should not go higher than $13.90 per $100,000 of assessed property value. The property tax increase would expire in 2040.
People for Measure A1 say:
• Measure A1 will provide affordable housing to vulnerable groups like seniors, veterans, low-income families with children, and people with disabilities.
• Measure A1 will help get homeless people off the street.
People against Measure A1 say:
• No arguments against Measure A1 have been put forward.