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Proposition 1
AUTHORIZES BONDS FOR HOUSING AFFORDABILITY PROGRAMS
Authorizes $11.25 billion in state general obligation bonds for housing affordability programs, including multifamily rental housing, mortgages for veterans, supportive housing, preservation of existing affordable housing, and downpayment assistance. Fiscal Impact: Increased state cost of $500 million to $600 million annually for about 25 years to repay the housing bond.
Criteria:
1. Intent of bond and amount of the bond.
2. The annual cost should be clearly stated in $ per $100,000 of assessed value of a property, or in dollars or percentages.
3. Duration of the bond and total estimated cost to repay the bond including interest.
4. Is there another similar bond already in place? If so, that bond information should be included.
5. What is the money specifically being spent on?
**** Extraneous language unrelated to the matter which could be considered as deceptive to the voter ( -1 point).
SCORE: 3.8Comments: The score was lowered from the maximum of five because of the failure to provide sufficient information about whether there were any existing bonds in place. The language fails to indicate that the repayment of the bonds for this program displaces other potential beneficial expenditures, and there is no mention of possible defaults
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