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Bond Measure for Low-Income Veterans Housing Approved

veterans housing
Proposition 41, which would re-purpose bond money for veterans housing, was overwhelmingly approved by California voters. (Courtesy image)

Veterans earned a major victory at the ballot box on June 3, as voters across the state approved Proposition 41. The initiative would re-purpose $600 million in general obligation bonds to fund the construction of rental housing for low-income veterans.

According to the Secretary of State’s office, Proposition 41 was supported by about 65 percent of the voters; nearly 2 million people voted in favor of the Veterans Housing initiative. Both the California Democratic Party and the California Republican Party reportedly endorsed Proposition 41.

The families of low-income veterans would also be allowed to take advantage of the rental-housing program.

According to news reports, there have been 28 bond measures presented to California’s electorate proposing to assist veteran housing programs. All 28 measures were reportedly approved.

The State’s legislative analyst’s office stated general tax revenues would be used to repay the $600 million in bonds.

Under the bond measure, local governments, nonprofit organizations, and private developers would receive financial assistance from the State. The funding would include low-interest loans the help pay for a portion of the project’s budget.

News reports indicate Proposition 41 will direct at least 50 percent of funding toward housing veterans who are either homeless or at a high risk of becoming homeless.

While the State’s Democratic and Republican parties endorsed Proposition 41, it was opposed by the Green Party of California.

The Greens called for an updated version of the bond measure to be placed on the Nov. 4 ballot. It was the hope of the Greens that a refined version of Proposition 41 would require the planned housing be built closer to jobs and public transportation, among other provisions.

Beyond the California Greens, no other organization was opposed to the ballot measure. Members of the State Assembly and Senate unanimously supported the proposition’s placement on the ballot.

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