Measure I

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Information about Measure I

Measure I – Public Facilities and Infrastructure Bond Measure

Measure I was placed on the City’s upcoming November 5, 2024 Election ballot by the Santa Clara City Council. If approved by voters, the City's Public Facilities and Infrastructure Bond Measure (Measure I) would allow the City to issue $400 million in general obligation bonds to fund capital improvements.

OFFICIAL MEASURE I BALLOT QUESTION
To 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?	Yes
No

OFFICIAL MEASURE I BALLOT QUESTION

To 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?

Yes

No

Measure I Frequently Asked Questions

How will this bond measure be funded and how much will it cost property owners?

The City's Public Facilities and Infrastructure Bond Measure (Measure I), if approved by voters, would allow the City to issue $400 million in general obligation bonds to fund capital improvements. The debt would be paid through an assessment on a property owner's tax bill. This amount would be determined based on the assessed value (not market value) of a property, which can be much lower if you’ve owned for a long time.

Measure I 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. For the median assessed single family home value in Santa Clara ($674,000), the homeowner would pay an average of $128 per year.

How will bond revenue be utilized?

If approved by voters, bond proceeds can only be used to fund improvements to City infrastructure and facilities per the Expenditure Plan that identifies project categories and specific projects to be constructed. Bond proceeds would be allocated to the following project categories:

Streets and Transportation ($41,170,000)
Fire Stations and Emergency Response ($142,235,450)
Police Facilities ($43,987,500)
Parks, Libraries, Senior Center, and Aquatics Facilities ($115,258,750)
Stormdrain System Improvements ($46,000,000)
Historic Buildings and Beautification ($9,200,000)

A small portion of the bond funds in the expenditure plan include project contingency and escalation costs to account for inflation and project cost variability.

How do I know these funds will be used responsibly?

Measure I includes a Transparency and Accountability Plan to provide the public additional access and oversight over the use of the bond proceeds. The Transparency and Accountability Plan is set forth in Section 13 of the Bond Ordinance. Key provisions of the plan, including some additional state law requirements include the following:

Council approved Expenditure Plan including project category areas and related spending amounts concurrent with adoption of the Bond Ordinance to be presented as part of the ballot materials
Process for substantive amendments to the Expenditure Plan to require a staff recommendation, input from the Community Oversight Committee and unanimous approval of the City Council
Formation of a Community Oversight Committee to ensure compliance with bond requirements and provided input on any proposed Expenditure Plan amendment
Bond expenditures subject to independent annual audits with public presentations of the audits to the Community Oversight Committee and Council Audit Committee
Strict prohibitions on the use of bond proceeds for (a) Levi’s Stadium Improvements; (b) any projects for the sole benefit of Levi’s Stadium; (c) any improvements within .5 miles of the Stadium, except for improvements in residential neighborhoods of direct benefit to those areas and not Levi’s Stadium; and (d) the direct or indirect benefit of any professional sports team
Funds only to be used for public infrastructure projects serving the City of Santa Clara
All bond proceeds are to be deposited into a separate account(s) and tracked on a project-by-project basis
No bond proceeds are to be used for employee salaries or benefits with the exception of normal and customary personnel charges for project management and delivery services not to exceed 5% of bond proceeds
Annual public presentations on the Expenditure Plan and project status to the Community Oversight Committee and the City Council
For projects requiring mail notice, noticing to all properties within 1,000 feet of the project
Enhanced communications program on bond funded projects including on the City’s webpage with public signage providing further information at project sites

When will the bond sunset?

If Measure I is approved by voters, projects would begin after the first set of bonds are sold shortly after the election. Payments would end when the bonds are paid off. Bond measures of this nature are generally financed using 30-year bonds.

Last Updated:

09-30-2022