Proposition 1 would determine bonds to potentially house vulnerable groups in SCV
A work in progress; Homes4Families continues to build low cost, veteran housing off Centre Pointe Parkway in Canyon Country. Ryan Painter/The Signal.
By Crystal Duan
Thursday, November 1st, 2018

California voters will decide Nov. 6 the future of Proposition 1, known as the Housing Programs and Veterans’ Loans Bond, that would potentially provide funding through bonds for housing-related programs to support people in need throughout the state.

The measure would authorize $4 billion in general obligation bonds for existing affordable housing-related programs, grants and housing loans for veterans, seniors and individuals with disabilities without raising taxes, according to the ballot.

Instead of putting the burden on taxpayers, private investors would buy the general obligation bonds, and the state would repay them with revenues from its general fund.

The disadvantage to a “yes” vote would be the risk incurred to taxpayers by selling those bonds if the government is already in much debt and needs a sturdy general fund, said Nick Callas, president of the local chapter of Vietnam Veterans of America.

Callas said the burden to repay might deplete the state of more money in the long run and negatively affect California taxpayers who might have to eventually pick up the slack.

“The financial impact will be taken out of the (state’s) general fund, and then we are affected if the balance to pay it in the first place falls short,” he said. “We shouldn’t be borrowing more money. So I oppose it. I’m pretty sure that position would stand for the majority of veterans we cover too (through the organization), which is the Santa Clarita, Simi, Antelope and San Fernando valleys.”

On the other hand, Michelle Heid, a local disability advocate and legislative educator, said she supports the proposition to provide affordable housing for the vulnerable communities because more immediate action is needed.

Heid works at Advanced Behavioral Pathways as a community and legislative educator who provides nonpartisan education about individuals with disabilities.

“We typically don’t take positions, but I personally do support Proposition 1 to provide affordable housing for the community,” she said. “It will expand the number of affordable housing units and create options for people with disabilities.

“There are difficulties with bonds, and it won’t solve the problem of a housing shortage altogether, but it’s still a step in the right direction,” she said. “It’s a problem locally, and we need to do something about it.”

 

About the author

Crystal Duan

Crystal Duan

Crystal Duan is the Signal's political reporter, covering City Council, the county and other happenings around the city. She graduated from the University of Missouri's journalism school and has worked at the Indianapolis Star and Minneapolis Star Tribune. She has been with the Signal since March 2018.

A work in progress; Homes4Families continues to build low cost, veteran housing off Centre Pointe Parkway in Canyon Country. Ryan Painter/The Signal.

Proposition 1 would determine bonds to potentially house vulnerable groups in SCV

California voters will decide Nov. 6 the future of Proposition 1, known as the Housing Programs and Veterans’ Loans Bond, that would potentially provide funding through bonds for housing-related programs to support people in need throughout the state.

The measure would authorize $4 billion in general obligation bonds for existing affordable housing-related programs, grants and housing loans for veterans, seniors and individuals with disabilities without raising taxes, according to the ballot.

Instead of putting the burden on taxpayers, private investors would buy the general obligation bonds, and the state would repay them with revenues from its general fund.

The disadvantage to a “yes” vote would be the risk incurred to taxpayers by selling those bonds if the government is already in much debt and needs a sturdy general fund, said Nick Callas, president of the local chapter of Vietnam Veterans of America.

Callas said the burden to repay might deplete the state of more money in the long run and negatively affect California taxpayers who might have to eventually pick up the slack.

“The financial impact will be taken out of the (state’s) general fund, and then we are affected if the balance to pay it in the first place falls short,” he said. “We shouldn’t be borrowing more money. So I oppose it. I’m pretty sure that position would stand for the majority of veterans we cover too (through the organization), which is the Santa Clarita, Simi, Antelope and San Fernando valleys.”

On the other hand, Michelle Heid, a local disability advocate and legislative educator, said she supports the proposition to provide affordable housing for the vulnerable communities because more immediate action is needed.

Heid works at Advanced Behavioral Pathways as a community and legislative educator who provides nonpartisan education about individuals with disabilities.

“We typically don’t take positions, but I personally do support Proposition 1 to provide affordable housing for the community,” she said. “It will expand the number of affordable housing units and create options for people with disabilities.

“There are difficulties with bonds, and it won’t solve the problem of a housing shortage altogether, but it’s still a step in the right direction,” she said. “It’s a problem locally, and we need to do something about it.”

 

About the author

Crystal Duan

Crystal Duan

Crystal Duan is the Signal's political reporter, covering City Council, the county and other happenings around the city. She graduated from the University of Missouri's journalism school and has worked at the Indianapolis Star and Minneapolis Star Tribune. She has been with the Signal since March 2018.