Santa Rosa's Measure N housing bond on the Nov. 6 ballot would authorize $124 million in general obligation bonds for affordable housing for families, veterans and seniors as well as supportive housing for homeless people.
Santa Rosa Mayor Chris Coursey and Santa Rosa City School Board president Jenni Klose are among the proponents. They say Measure N will provide down payment assistance for local first-time buyers and support for residents displaced by the 2017 wildfires.
The measure needs two-thirds approval to pass. The annual tax rate to service the bond is $29 per $100,000 assessed valuation, and the tax is based on the assessed value of the property not on its market value.
In the final fiscal year of taxation, 2048-2049, if all of the bonds are sold, the total debt service includingprincipal and interest will be $258.5 million.
No argument against the measure was submitted, and the Sonoma County Taxpayers Association has not taken a position on the measure.
