Measure I

Santa Clara Public Facilities and Infrastructure Bond

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Would improve 911 emergency response; fix streets to reduce potholes and provide safer roads and routes for drivers, pedestrians, and cyclists; upgrade storm drains/pipes to prevent flooding/sinkholes; and renovate/replace recreation, library and other community facilities; shall the City of Santa Clara's measure authorizing $400,000,000 in bonds, funded by levying an estimated $19 per $100,000 of assessed value while bonds are outstanding, generating approximately $21,674,000 annually, with annual audits and citizen oversight of spending, be adopted. Measure I is a general obligation bond that requires two-thirds of the vote to pass.

Fiscal Impact: If the voters were to approve a $400 million dollar bond, the potential measure would be funded by levying an estimated $19 per $100,000 of assessed property value annually. The tax bill for each of the largest 20 commercial property owners in Santa Clara would increase by an average of $154,000 per year. A typical homeowner would pay an average of $128 per year.

Next Santa Clara County Measure: Measure C

See Endorsements for Measure I

Details

Pro/Con
Pro: 

Supporters argue that Santa Clarans want to live in a safe city: 9-1-1 emergency, medical, fire, and disaster response is critical. Santa Clarans want streets repaired and safe: continuing to fix potholes and make roads safer for drivers, pedestrians, and bicyclists is a must. Santa Clarans want to prepare for the future: storm drain improvements, plus repairs to underground stormwater pipes to prevent erosion and sinkholes are necessary. Santa Clarans want improvements to existing neighborhood facilities: upgrades to our parks, swimming pools, libraries, and senior centers are needed.

The Santa Clara Infrastructure Bond invests in the major needs that our residents want- and more. Every dollar is allocated to projects that enhance the quality of life for all Santa Clara residents.

We also hear from Santa Clarans that public trust is important.

No bond funds shall be used for the Stadium or any professional sports team - guaranteeing that all resources are directed to public infrastructure.

A YES vote on this measure means that you support the issuance of the bonds.

Con: 

Opponents argue that in recent years our city government has put off making repairs to its existing facilities to spend more of its current revenues on an ever-increasing city payroll. Rather than retaking control of its spending (as most responsible families and businesses would do), our city government wants to borrow $400,000,000.00 (over $3,000 for each man, woman, and child in our city) and increase our taxes to pay for it. This is irresponsible. Capital bonds are for capital projects (new facilities), not current operating expenses (repairs).

A NO vote on this measure means that you oppose the issuance of the bonds.

In Depth

Measure I was placed on the ballot by the City Council of the City of Santa Clara ("City") to propose issuance of up to $400,000,000 in general obligation bonds. Bond proceeds would be used to fund improvements to City infrastructure and facilities per an attached "Expenditure Plan" that includes procedures for amendments. Bonds would be repaid by new property taxes. The measure includes audit requirements, citizen committee oversight, and other transparency and accountability provisions.

Interest rates for each bond issue will be determined by the market, but cannot exceed 12%. Assuming the full $400,000,000 is issued, using a projected interest rate between 4 and 5%, City estimates required bond debt service payments would total approximately $736,890,700.

Bonds would be repaid using revenues from an annual property tax levied against all non­ exempt taxable property within the City. The total tax levied each year would equal the amount necessary to make bond payments that year. Taxes would be levied on each parcel of taxable property based on its assessed value established by the County assessor. City estimates the average annual tax rate necessary to repay all bonds over the term of the bonds would be approximately $19 per $100,000 of assessed value. For the median assessed single family home value in Santa Clara ($674,000), this equates to a tax of approximately $128 per year.

Measure I includes an "Expenditure Plan" identifying project categories and specific projects to be constructed. Project categories include:

  • Streets and Transportation

  • Fire Stations and Emergency Response

  • Police Facilities

  • Parks, Libraries, Senior Center, and Aquatics Facilities

  • Storm drain System Improvements

  • Historic Buildings and Beautification

Bond proceeds cannot be used for improvements to Levi's Stadium, improvements within 0.5 miles of Levi's Stadium (with limited exceptions), or to benefit any professional sports team.

Source: Impartial Analysis of Measure I

Voter Resources

Voter Resources: Santa Clara Elections Office

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