Steve K. Gallagher

The Board meeting included updates on the resignation of a Director and the status of several programs, including the Dream For All randomized selection process and the Mixed Income Program. The committee also discussed the Cal Assist mortgage fund disaster recovery efforts, progress on the new Housing Development and Finance Committee, the Tribal Nations State Tribal Nation Summit, and upcoming legislative and banking conferences. Additionally, the Board reviewed loan commitments for the Victoria Flats development, covering aspects such as the developer's experience, inclusionary zoning requirements, and financial structure.

The committee discussed the status and future direction of various housing initiatives, including the My Access program, shared appreciation loan programs, and partnerships with local governments under the CHIP program. The discussion emphasized a strategic pivot to strengthen the foundational aspects of multi-family lending before expanding into more innovative financing tools. Updates were provided on the upcoming coordination with the Housing Development and Finance Committee, as well as the exploration of non-tax credit lending pathways for workforce housing and preservation projects.

The meeting included an announcement regarding the temporary appointment of an Acting Chair for the committee. The Chief Information Officer provided an annual information security update, which detailed the organization's performance, current risk posture, strategic plans, and future cybersecurity priorities beyond 2026.

The board met to discuss and take action on final loan commitments for several multifamily housing projects, specifically Victoria Flats and 960 Howard Street. Other discussion topics included the Chairperson and Executive Director's comments, a report from the New Opportunities Committee, state and federal legislative updates, and informational written reports concerning single-family loan production and state leadership accountability. The meeting also provided an opportunity for public comment.

The committee meeting focused on reviewing a new local housing investment partnership program concept intended to finance the construction of affordable housing for households earning between 50% and 120% of the Area Median Income. Members discussed the initiative and authorized staff to develop a questionnaire for prospective local public partners to gather further information. Additionally, the committee discussed and agreed to postpone scheduling future meetings.