Title: Amends Constitution: Allows local bonds for financing affordable housing with nongovernmental entities. Requires voter approval, annual audits
How much would it cost? $0. Local governments can create bonds. The bonds might cost money. Voters would vote on the bonds first.
People for this say: Homes are expensive. There are not enough homes that everyone can buy or rent in Oregon. Local governments include cities, counties, and regional governments. Local governments cannot work with private companies to create more housing. Often, they cannot use money from the U.S. government. They need to match federal money with local money. If this passes, local governments could work with private companies. They could create bonds for voters to vote on. They could create more affordable homes. Taxes would only go up after a vote. Republicans and Democrats supported this measure.
People against this say: This ballot measure does not say how the local governments would use the money they raise from bonds. It also does not say what “affordable” means. It would cost residents money. Residents would have little say on how the money is used.