Proposition 5 ballot measure to make it easier to fund affordable housing fails
A ballot measure that would have made it easier to finance affordable housing and other public projects in California has failed.
Proposition 5 was trailing 56% to 44% as of Friday afternoon, a 1.3-million vote margin, according to tallies from the Secretary of State’s office.
The measure would have decreased the approval threshold for local bonds from two-thirds to 55%. Backers said it was necessary to help build low-income housing, expand roads and transit, renovate parks and construct other public infrastructure.
Results from prior elections showed dozens of local bond measures that exceeded 55% support but failed to reach the required two-thirds majority, meaning that Proposition 5 could have led to a flood of new projects.
https://www.latimes.com/homeless-housing/story/2024-11-08/proposition-5-ballot-measure-to-make-it-easier-to-fund-affordable-housing-fails