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Proposition 1 – Veterans and Affordable Housing Bond Act of 2018

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General Election, November 06, 2018

Overview:

The high cost of housing in California has been a significant point of discussion in recent years.  Housing in California has long been more expensive than the rest of the country.  According to the nonpartisan Legislative Analyst Office (LAO), average California home today costs 2.5 times the national average, while California’s average monthly rent is about 50 percent higher than the rest of the country.

This proposition allows the state to sell $4 billion in new general obligation bonds for various housing programs.  The measure provides $3 billion for various state housing programs, including affordable multifamily housing programs, infrastructure programs, homeownership programs, and farmworker housing programs.  Proceeds from the bond sale would be awarded to program applicants – local governments, nonprofit organizations, and private developers – through a competitive process.  The remaining $1 billion in bond proceeds would go towards home loan assistance to veterans.

The bond funds would provide annual subsidies for up to 30,000 multifamily and 7,500 farmworker households.  The funds would also provide down payment assistance to about 15,000 homebuyers and home loans to about 3,000 veterans.

A YES vote on Proposition 1 means the state could sell $4 billion in general obligation bonds to support veterans and affordable housing.

A NO vote on Proposition 1 means the state could not sell such bonds.

Fiscal Impact:

According to the Legislative Analyst Office (LAO), Proposition 1 would result in increased state bond repayment costs averaging about $170 million annually over the next 35 years.  LAO estimates savings to local governments, likely averaging several tens of millions of dollars annually over the next few decades.

Select Supporters:

  • Mercy Housing - Ascension Health, Bon Secours Health System, Catholic Health Initiatives, Dignity Health, Mercy Health, St. Joseph Health System, Trinity Health Corporation

Select Opposition:

  • There were no committees registered in opposition to Proposition 1.

CCC Position:

No position.

Reflections on Church Teaching:

“I want to be very clear. There is no social or moral justification, no justification whatsoever, for lack of housing. There are many unjust situations, but we know that God is suffering with us, experiencing them at our side. He does not abandon us. Jesus not only wanted to show solidarity with every person.” – Pope Francis, Visit to St. Patrick’s Parish and meeting with the homeless, 2015

 “The political community has a duty to honor the family, to assist it, and to ensure especially…the right to private property, to free enterprise, to obtain work and housing, and the right to emigrate.”  Catechism of the Catholic Church, no. 2211.

“There must be made available to all men everything necessary for leading a life truly human, such as food, clothing, and shelter…”  Pastoral Constitution on the Church in the Modern World (December 26, 1965).

"The lack of safe, affordable housing requires a renewed commitment to increase the supply of quality housing and to preserve, maintain, and improve existing housing through public/private partnerships, especially with religious groups and community organizations.”  USCCB, Forming Consciences for Faithful Citizenship, 2011.

“The Church, ‘sharing the joy and hope, the grief and anguish of the people of our time, especially those who are poor or affected in any way,’ feels it has a serious obligation to join with those who are working, without self-interest and with dedication, to find concrete and urgent solutions to the housing problem and to see that the homeless receive the necessary attention and concern on the part of public authorities.”  Saint Pope John Paul II, Letter to Pontifical Commission Justitia et Pax (December 8, 1987).

“As preachers of the Gospel, we proclaim the message of Jesus Christ who identifies Himself with the needs of the least of the brethren. The second great commandment is to love our neighbor. We cannot deny the crying needs for decent housing experienced by the least of the brethren in our society. Effective love of neighbor involves concern for his or her living conditions.”  USCCB, The Right to a Decent Home: A Pastoral Response to the Crisis in Housing (November 20, 2975).