To provide affordable housing and prevent displacement of vulnerable populations, including low and middle-income households, veterans, local artists, seniors, and the disabled; provide supportive housing for people experiencing homelessness; and help low-and middle-income households purchase homes; shall the City of Emeryville issue $50,000,000 in bonds with an estimated average levy of 4.912 cents per $100 of assessed value, generating approximately $3,422,000 annually to pay bonds over 27 years, requiring independent oversight, with all funds staying local?
2, Alameda County • 2018 • M
Passed
Result: 72.1% yes, 27.9% no (2,586 votes cast)
AI-generated plain-language summary
The measure authorized the City of Emeryville to issue $50 million in bonds to fund affordable housing programs, supportive housing for homeless individuals, and homebuyer assistance for low and middle-income residents. The bonds would be repaid through property taxes at an estimated rate of 4.912 cents per $100 of assessed value over 27 years.