"Measure I marked the first time since 1959 that the city had a general facilities bond on the ballot, despite unsuccessful attempts at a similar initiative in 2018 and 2022. City officials estimated last year that Santa Clara had more than $600 million in unfunded infrastructure needs. The $400 million bond will be funded by levying roughly $19 per $100,000 of assessed property value each year from 2025 to 2060."
"Homeowners are expected to pay about $128 annually, while the 20 largest commercial property owners in the city will pay roughly $154,000 on average. City officials said that the first bond sale of $100 million will occur in the first quarter of 2026. A second phase, which will be larger than the first, is expected to occur in 2028, and the remaining funds will be doled out after 2030."
Measure I is a $400 million general facilities bond approved by voters to repair long-overdue city infrastructure, including the historic aquatic center. City Council approved a first project list allocating about $100 million, roughly 25% of the bond, with the largest shares directed to parks, libraries, and aquatics facilities. The bond will be sold in phases: the first $100 million in early 2026, a larger phase in 2028, and remaining funds after 2030. Funding comes from a levy of about $19 per $100,000 assessed value from 2025 to 2060, with homeowners paying roughly $128 annually and large commercial owners paying substantially more. Projects were prioritized by community impact and readiness.
Read at www.mercurynews.com
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