The City Council on Tuesday backed a statewide $11.25 billion housing bond measure that Mayor Patricia Lock Dawson says could help address homelessness and housing challenges in Riverside and communities across California.
The council affirmed its support for Proposition 1, which will go before California voters in November. The measure, formally known as the California's Veterans and Affordable Housing Bond Act of 2026, would authorize the state to issue general obligation bonds for affordable housing, homeownership opportunities and programs aimed at addressing homelessness.
The council's action does not commit any city funds. The report describes the vote as procedural and says it has no fiscal impact.
Lock Dawson brought the item forward to affirm the city's support for legislation and funding opportunities that address homelessness. She is also chair of the Big City Mayors Coalition and has led the group's support for Proposition 1, according to a staff report.
Several public commenters voiced support for Proposition 1 at Tuesday's meeting, including Dan Hoxworth, a Ward 3 resident.
"I think it is important that the mayor be allowed to continue to advocate for this crucial bond issue,” Hoxworth said. “This is not a tax increase associated with the bond issue. Our state is in the middle of the affordable crisis. This would move us forward."
If approved by voters, the bond measure would fund programs supporting the creation and preservation of affordable housing, expand homebuying opportunities for low- and moderate-income residents and veterans, and invest in permanent solutions to homelessness throughout California.
The measure originated as SB 417, which was passed by the California Legislature and signed by the governor in June. It then became Proposition 1 when it was placed on the November ballot.
The bond measure comes as California faces a significant housing shortage. The staff report estimates the statewide shortage generally exceeds 1 million homes and says the state has identified a need for about 1.2 million additional affordable homes for lower-income Californians.
According to the report, affordable housing developments often cannot generate enough rental revenue to cover the costs of acquiring land, securing financing, construction and maintaining affordable rents, making public subsidies necessary to close the financing gap.
California voters last approved a Veterans and Affordable Housing Bond in 2018, authorizing $4 billion in bonds with about 56% of the vote. Most of those resources were committed within several years because of high demand for affordable housing assistance, the report said.
The bond also comes at a time when Riverside is struggling to meet its own state-mandated housing goals. The city has permitted no new very-low-income housing since 2021 and had met less than 20% of its overall state housing allocation, according to an annual city progress report earlier this year.
