REPORT TO BOND COMPLIANCE OVERSIGHT COMMITTEE
SUBJECT
Title
Measure I Program Update Fall 2026
Report
BACKGROUND
On November 5, 2024, City of Santa Clara voters approved Measure I, which authorized the issuance of up to $400 million in general obligation bonds to finance a backlog of unfunded infrastructure needs as specified in an attached “Expenditure Plan” (Attachment 1).
On August 22nd, 2025, the Bond Compliance Oversight Committee (BCOC) unanimously approved and acknowledged the Phase 1 Project List (Attachment 2 - First Tranche Approved Project List), which aligned with the voter-approved Expenditure Plan requirement. As contemplated by the Expenditure Plan, the Phase 1 Project List was developed through professional staff’s consideration and balancing of factors like project readiness, community benefit, operational needs, and available resources.
The first General Obligation Bond was issued in February 2026 and provided $97,125,000 to fund these initial projects. With these projects now progressing, staff is bringing forward updates to the BCOC.
DISCUSSION
Since the first Measure I bond issuance in February 2026, the City has continued advancing implementation of the 27 projects identified in the initial phase of the program. Projects are at various stages of implementation, including planning, design, procurement, construction, and completion.
This report highlights significant project milestones achieved to date, provides an update on program administration and public transparency efforts, and identifies upcoming activities associated with financial oversight, project implementation, and future bond funding.
A comprehensive project status summary is provided in Attachment 3, identifying; the report includes the anticipated next milestones for each of the 27 Phase 1 projects.
Measure I Project Updates
The Measure I program has reached several significant milestones, including completion of its first project and advancement of two parks and recreati...
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