June 27, 2022 Breaking News, Latest News, and Videos

Proposition 41 Bond Measure For Low-Income Veterans Housing Approved By Voters:

Voters on Tuesday approved the re-purposing of $600 million in general obligation bonds to help fund construction of rental housing for low-income veterans and their families across the state.

Proposition 41 was leading 65.6 percent-34.4 percent with 47.5 percent of the precincts statewide partially reporting, according to figures released by the Secretary of State’s Office.

California voters have approved all 28 veterans housing bond measures.

The measure will redirect two-thirds of the amount of a bond issue approved by voters in 2008 that could previously have only been used to fund home loans for veterans.

The Veterans Housing and Homeless Prevention Bond Act of 2014 will increase state bond repayment costs averaging about $50 million annually over 15 years, according to the Legislative Analyst’s Office. The bonds will be repaid from general tax revenues.

Proposition 41 will allow the state to provide local governments, nonprofit organizations and private developers with financial assistance, such as low-interest loans, to fund part of a project’s costs. At least half the funds will go toward housing homeless veterans and veterans at risk of becoming homeless.

The measure requires services for programs addressing homeless veterans and those at risk of becoming homeless be provided in the facilities built.

Proposition 41 was endorsed by both the California Democratic Party and California Republican Party.

It was opposed by the Green Party of California, which believed a revised version should have been placed on the November ballot with provisions added calling for the proposed housing to be placed close to jobs and public transportation; preventing undue profiteering by private builders, developers and financiers; assuring that companies providing management services to senior citizens and low-income renters would not shift funds toward profits before providing housing; ensuring adequate state staffing to oversee management services; and establishing a publicly owned state bank or authorizing a feasibility study to start one.

There was no organized opposition to Proposition 41.

The legislation putting Proposition 41 on the ballot passed both houses of the Legislature without any no votes.

in News
Related Posts

The Los Angeles Real Estate Market May Finally Be Slowing Down

June 24, 2022

June 24, 2022

Real estate sales drop 21 percent in past year By Dolores Quintana The Los Angeles real estate market is showing...

Redevelopment Complete of Former Westside Pavilion Macy’s

June 24, 2022

June 24, 2022

Developer announces complete of West End at Pico and Overland Developer HLW, on behalf of GPI Companies and in partnership...

Mayor Himmelrich’s Tax Transfer Measure Is Favored to Qualify for the November Election

June 24, 2022

June 24, 2022

In a cursory review, the City Clerk’s office verified 10,277 of the over 11,000 signatures  By Dolores Quintana Santa Monica...

Active Shooter Training Set for Santa Monica Middle School Friday

June 23, 2022

June 23, 2022

Drill to take place at John Adams Middle School Friday morning By Sam Catanzaro ​​An active shooter training will take...

Metro Church and Cafe Fundraising To Keep Space in Santa Monica

June 23, 2022

June 23, 2022

Non-profit church and coffee shop shut down following false vermin complaint By Dolores Quintana Metropolis Santa Monica is a multi-use...

New Coffee Shop Open on Montana Avenue

June 23, 2022

June 23, 2022

Go Get ‘Em Tiger up and running on corner of Montana and 10th  By Dolores Quintana A new coffee shop...

15-Year Department Veteran Selected as Santa Monica’s Next Director of Library Services

June 22, 2022

June 22, 2022

Erica Cuyugan leads Santa Monica Public Library After performing a nationwide search, the City of Santa Monica recently selected Erica...

Cardboard City Returning to Santa Monica This Weekend

June 22, 2022

June 22, 2022

5,000 square foot innovative pop-up art installation returns June 25 with opening ceremony  Cardboard City, a 5,000 square foot innovative...

The Book Jewel Celebrates Pride Month as a Community

June 22, 2022

June 22, 2022

Westchester bookstore hosting series of events this month The Book Jewel in Westchester is hosting several events this month that...

Santa Monica Resident Injured in Apartment Fire

June 21, 2022

June 21, 2022

Pico Neighborhood apartment catches fire last week By Sam Catanzaro A Santa Monica resident was injured in an apartment fire...

Bonin Requests Lease Extension for a Bridge Home Homeless Shelter

June 21, 2022

June 21, 2022

Motion currently pending in City Council committee  By Sam Catanzaro Los Angeles City Councilmember Mike Bonin is pushing to extend...

Mountain Lion Killed by Vehicle Near the Same Spot Her Mother Was Fatally Struck in 2018

June 21, 2022

June 21, 2022

P-54 killed on Las Virgenes Road last Friday By Sam Catanzaro Not too far from where her mother was hit...

Rent Board Has Approves Highest Rental Increase In 40 Years: Santa Monica Beat – June 20th, 2022

June 20, 2022

June 20, 2022

Local news and culture in under 5 minutes.* Rent Board Has Approves Highest Rental Increase In 40 Years * Recreational Marijuana...

Santa Monica Families Earning Upwards of $190,000 Can Qualify for Mortgage Relief

June 17, 2022

June 17, 2022

State expands California Mortgage Relief Program By Sam Catanzaro Santa Monica families earning upwards of $190,000 can qualify for mortgage...