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City of Santa Clara


News Release





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*FOR IMMEDIATE RELEASE: Wednesday, July 17, 2024*

*CONTACTS: *Janine De la Vega, PIO | Director of Communications, 408-615-5522 or email jdelavega@santaclaraca.gov






*City of Santa Clara to Place $400 Million Infrastructure Bond on the November 2024 Ballot*

*"Bond Proceeds would Fund Critical Infrastructure Projects Throughout the City

"*

*"SANTA CLARA, Calif."* – At the July 16, 2024 City Council meeting, Council voted unanimously to place a $400 million general obligation bond on the November 2024 ballot to address the City’s over $600 million in unfunded infrastructure needs.

While the most immediate infrastructure needs total more than $600 million over the next five years, the total does not account for all unfunded needs in the City. In 2024 alone, the City received over $270 million in infrastructure requests from various departments with only $24 million available in the Capital Projects Reserve.

“This bond measure, if approved by voters, is a substantial and much needed investment in our community,” says Mayor Gillmor. “We wanted to make sure the measure commits to specific projects so Santa Clarans know how the monies will be used, and that controls are in place to ensure maximum benefit to the City.”

In addition to the bond measure ordinance, a detailed Expenditure Plan [ https://santaclara.legistar.com/LegislationDetail.aspx?ID=6782598&GUID=45BAE960-DAE5-4270-BA83-527E2E869874&FullText=1 ] with specific projects was adopted to ensure monies are committed to the following infrastructure project areas:


* *Streets and Transportation ($41,170,000): *Projects include street resurfacing/rehabilitation and ADA improvements
* *Fire Stations and Emergency Response ($142,235,450): *Projects include replacement and/or renovation of several fire stations and training facility renovation
* *Police Facilities ($43,987,500): *Projects include training facility, Police Department facility and real-time crime center infrastructure
* *Parks, Libraries, Senior Center, and Aquatics Facilities ($115,258,750):* Projects include renovation and expansion of all three libraries and Senior Center, renovation and/or replacement of community aquatic facilities, and renovation of park/playground facilities
* *Stormdrain System Improvements ($46,000,000):* Projects include stormdrain system improvements and storm water retention basin remediation
* *Historic Buildings and Beautification ($9,200,000): *Projects include street/median beautification and renovations to historic buildings

Bonds would be issued in phases to address prioritized needs. At full issue, the estimated annual levy would be $19 per $100,000 of assessed property value applicable to residential and business property owners and is expected to generate approximately $21,674,000 annually.

“This bond would provide a dedicated funding source for some of our most critical infrastructure needs,” says Councilmember Karen Hardy. “It was crucial for the Council to get this measure in front of voters in November.”

The bond ordinance [ https://santaclara.legistar.com/LegislationDetail.aspx?ID=6782598&GUID=45BAE960-DAE5-4270-BA83-527E2E869874&FullText=1 ] also includes a Transparency and Accountability Plan, which codifies the accompanying Expenditure Plan, establishes a Community Oversight Committee to ensure compliance with bond requirements, and sets forth a strict process by which amendments can be made to the Expenditure Plan.

Among other requirements, bond expenditures would be subject to independent annual audits, and bond proceeds would be prohibited for use on Levi’s® Stadium improvements or within .5 miles of the stadium, except for improvements in residential neighborhoods within the .5 mile radius.

The $400 million general obligation bond measure will be placed on the November 5, 2024 general election ballot, requiring a 2/3rds vote in favor to pass. A State ballot measure, Proposition 5, also on the November ballot, would lower the threshold needed for the bond measure to pass to 55%.

“We do know that the City’s current pay-as-you-go approach to funding infrastructure projects is untenable,” says City Manager Jovan Grogan. “We are very hopeful for this opportunity to place an infrastructure bond before Santa Clara voters.”

For more information, visit SantaClaraCA.gov/LocalFunding [ https://www.santaclaraca.gov/i-want-to/stay-informed/current-city-projects-initiatives/keeping-santa-clara-safe-and-well-maintained-potential-local-bond-measure ].






*About the City of Santa Clara
*Located at the heart of Silicon Valley about 45 miles south of San Francisco, the City of Santa Clara truly is “The Center of What’s Possible.” Incorporated in 1852, Santa Clara covers an area of 19.3 square miles with an estimated population of 129,498. Santa Clara is home to an extraordinary array of high-tech companies, including Applied Materials, AMD, Intel, Nvidia, and Ericsson. The City of Santa Clara is also home to Santa Clara University, California’s Great America Theme Park, and Levi’s® Stadium, home of the San Francisco 49ers and future host site of Super Bowl LX and FIFA World Cup in 2026. For more information, visit SantaClaraCA.gov [ http://www.SantaClaraCA.gov ].






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