Passage of Proposition 41 Provides $600 Million for Homeless Veterans

White house -prop 41On June 3, California voters approved Proposition 41, the Veterans Housing and Homeless Prevention Bond Act of 2014. This ballot measure provides $600 million in general obligation bond funding to help build, rehabilitate and acquire multifamily housing developments for low-income veterans.

This one-time funding is expected to last for several years, enabling time for the affordable housing industry and legislators to approve more permanent financing tools to provide needed housing to California’s working and homeless residents.