Santa Clara County leaders agreed to place a massive bond measure on November's ballot that would raise nearly a billion dollars for affordable housing in coming decades.
The property tax would raise about $950 million over 30 years and cost homeowners about $12.60 per $100,000 in property value. The measure will require a two-thirds vote to pass, reports Eric Kurhi of the Bay Area News Group. He writes:
While other municipalities have put affordable housing bonds on the ballot before -- San Francisco passed its own $300 million bond last November -- the size of Santa Clara County's version and its dedication of funds to the most needy homeless population make it stand out, advocates said.