Title
Adoption of Resolution Determining that the Public Interest and Necessity Demand the Acquisition and Construction of Municipal Improvement Projects and their Financing Through the Issuance of General Obligation Bonds; [Requires four affirmative votes] and
Introduction of Uncodified Ordinance Ordering the Submission of a Measure Incurring Bonded Indebtedness to the Qualified Voters of the City of Alameda at the General Municipal Election to Be Held on November 3, 2026, for the Purpose of Financing the Cost of the Acquisition and Construction of Certain Municipal Improvement Projects. [Requires four affirmative votes]
(City Manager 10021030)
Body
To: Honorable Mayor and Members of the City Council
From: Gerry Beaudin, City Manager
EXECUTIVE SUMMARY
The City of Alameda (City) faces significant and growing infrastructure funding gap. Aging public facilities, deferred maintenance, and increasing climate-related and natural disaster risks collectively exceed available funding resources by over $800 million. As a low-lying island community, Alameda faces unique challenges associated with flooding, sea level rise, groundwater rise, earthquakes, and severe storms that threaten residents, businesses, and critical public infrastructure. Despite careful stewardship of existing resources, available funding is insufficient to address the scale of the City's infrastructure and resilience needs.
Recognizing these challenges, the City's adopted Strategic Plan includes exploring a general obligation (GO) bond or other revenue measure to fund replacement of existing facilities and the financing of new infrastructure needs. Based on identified needs, community engagement, and public polling, staff recommends placing a $300 million GO bond (also referred to as an infrastructure bond) on the November 3, 2026 ballot to allow Alameda voters to decide whether to authorize this investment. If approved by the voters, the bond would be repaid through a dedicated ad valorem p...
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