YES ON PROP 5

The Context

Most ballot measures require a simple majority (over 50 percent) of the vote to pass. The existing supermajority requirement (the two-thirds rule) for local bond approval was part of Prop 13 in 1978, which was part of a series of tax restrictions in California’s Constitution meant to keep government spending under control and respond to a wave of anti-taxation sentiment. While the instinct to keep government spending under control is good, it’s not that necessary in the case of San Francisco—the city has a debt policy that doesn’t allow us to exceed 3 percent of all the city’s taxable property in bond debt.

Governments exist to execute essential projects like housing, and San Francisco is currently unable to deliver on such basic promises for its residents. Making it easier for housing and infrastructure bonds to pass would alleviate the housing crisis. Many projects don’t get off the ground because their proposals contain so many affordable units that they’re not viable for developers. More housing and infrastructure bonds would help fill the gap.

And some bonds are simply essential and shouldn’t be subject to the whims of politics. For example, June 2022’s essential transit bond, Prop A, failed when enough voters directed their frustration about road closures toward the Muni bond. That bond would have passed despite the political atmosphere at the time if it required only 55 percent of the vote.

Notably: If Proposition 5 passes, it would affect all future local bond campaigns covered by the measure. This means that passing bonds to fund affordable housing projects could be a lot easier in the future.

The Money

So far, there are three committees opposing Prop 5, with the California Business Roundtable, the California Association of Realtors, and the Homeownership for Families committee contributing more than $23.5 million combined to try and sink the measure. 

The Chan Zuckerberg Initiative and the Non-Profit Housing Association of Northern California have each contributed $2.5 million in support.

Additional Details

What is, exactly, “affordable” in the world of getting housing built? Proposition 5 includes people earning up to 150 percent of countywide median income. Affordable housing programs are also defined as: “down payment assistance programs, first-time homebuyer programs, permanent supportive housing, and facilities used to serve residents of affordable housing.”

“Public infrastructure” includes water treatment, parks and recreation facilities, flood control and protection from sea level rise, roads, broadband internet access, local hospital construction, public safety buildings, and public libraries.

Support & Opposition

The primary supporters of Proposition 5 are labor groups representing firefighters and construction workers, which contend that it should be easier for voters to approve government financing for needed housing and other public projects. Also supportive of Prop 5 are affordable housing and local government interests.

Opponents include business and taxpayer groups, including the Howard Jarvis Taxpayers Association, who argue that the proposition will erode taxpayer protections against government spending and result in higher taxes.