Nicole Galiano

The meeting commenced with roll call followed by the approval of the minutes from the January 2nd meeting. Key discussion points included appreciation for staff contributions to the strategic planning workshop and the positive momentum of the organization. Updates were provided on the Cal Assist disaster recovery program, which saw 581 applications on day one following a governor's announcement. Progress on the Dreamforall program was also noted, with the portal opening soon. Further updates covered recent listening sessions with multifamily developers in San Diego and with the Central California Tribal Chairman's Association. The board also received an annual board governance training presentation covering fiduciary duties such as duty of care, duty of loyalty, and duty of obedience, alongside discussions on open meeting requirements, conflict of interest, and financial reporting responsibilities.

The Audit and Risk Management Committee meeting commenced with roll call confirming a quorum. The primary agenda item involved the approval of the January 22, 2026, meeting minutes. The auditors presented their findings, noting an unmodified opinion for both financial statements and federal awards, with no material weaknesses or significant deficiencies identified. Key discussion points included the year-end financial statement changes, such as a significant increase in cash and investments and program loans receivable, offset by decreases in other assets and deferred outflows. The committee also addressed an uncorrected, non-material misstatement related to unamortized hedge termination. A substantial portion of the discussion focused on the upcoming implementation of GASB 103 for financial reporting, particularly concerning the Management's Discussion and Analysis (MDNA) section, to ensure consistency and clarity in reporting capital assets and long-term debt.

The agenda for the meeting included standard procedural items such as Roll Call and comments from the Chairperson/Executive Director. Key discussion items involved Board Governance Training by CliftonLarsonAllen, LLP, and updates on the California Dream for All Program and the Fiscal Year 2025/26 Q2 Operating Budget ending December 31, 2025. Informational written reports covered Agency Bonds, Interest Rate Swaps and Financing Risk Factors, the Annual Investment Report, and the Fiscal Year 2025/26 Q2 Strategic Plan Update Report. The meeting concluded with public comment and adjournment.

This strategic plan outlines the California Department of Housing and Community Development's direction for 2024-2026, aiming to promote safe, affordable homes and vibrant, inclusive, sustainable communities for all Californians. The plan is guided by core values including innovation, professionalism, integrity, diversity, accountability, and mission-driven focus. Key strategic goals include leading the housing policy agenda to increase housing supply and address homelessness, improving collaboration and service with stakeholders, cultivating a diverse learning organization, and strategically investing internal resources to optimize performance and achieve its vision of healthy communities of opportunity for every resident.

The meeting commenced with a roll call confirming a quorum, followed by the approval of the October 16th minutes. A significant portion of the meeting involved transitions on the board, specifically acknowledging the departure of Director Delila Satello, praising her contributions, particularly her work on the audit and risk management committee, and welcoming the new executive director, Tony Surgage. The Chair noted their own term renewal. Executive Director Tony Surgage provided opening remarks emphasizing the commitment to the Constitution and the agency's mission to further affordable housing in California. He highlighted ongoing work on a strategic plan for the next three years and the importance of engaging in financial markets. He also expressed gratitude to Rebecca Franklin for her interim service and the entire staff for maintaining operations. Key updates included the Cal Assist Mortgage Fund, which has provided assistance to over 600 families, with 80% being survivors of the Eden fire and 15% survivors of the Palisades fire, noting adjustments to income limits in Los Angeles to aid disaster recovery.