Roundtable Discussion on Affordable Housing Solutions in Southern California
SAN FRANCISCO and IRVINE, Calif., April 25, 2025 (GLOBE NEWSWIRE) — In a proactive step to address the escalating affordable housing crisis in Southern California, U.S. Representative Young Kim (CA-40) facilitated a roundtable meeting today in Irvine, California. This event brought together key stakeholders, including the Orange County Business Council and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco), to explore collaborative solutions for enhancing housing supply and affordability.
The Growing Crisis
During the discussion, Rep. Kim highlighted the urgent need for action, stating, “Rising housing prices are making life unaffordable for too many hardworking families in our community. We need all hands-on deck to combat this housing crisis.” The roundtable included diverse participants such as housing advocates, financial institutions, and community organizations, all focused on promoting homeownership and financial literacy.
Assembly of Stakeholders
Rep. Kim, who represents California’s 40th District, expressed gratitude for the local leaders from both public and private sectors attending the roundtable. This gathering aimed to develop practical strategies to alleviate the housing shortage and provide support for families facing economic difficulties. Kim’s active role on the House Financial Services Committee underscores her commitment to economic development and regulatory policies that foster growth.
Economic Implications
Jeff Ball, President and CEO of the Orange County Business Council, remarked on the importance of enhancing housing availability. He stated, “Housing availability at all levels is fundamental to OCBC’s mission of advancing economic development in Orange County.” The collaboration aims to create a framework that allows workers to live in proximity to their workplaces, thereby facilitating a better quality of life in the region.
Commitment from the Federal Home Loan Bank
Joe Amato, interim president and CEO of FHLBank San Francisco, emphasized the significance of cross-sector collaboration. “Today’s conversation underscores the urgent need for collaborative action,” he said. Given the aftermath of recent wildfires in Southern California, the demand for affordable housing has intensified. The Bank’s ongoing commitment includes partnering with community stakeholders to improve access to affordable housing.
Notable Participants
The roundtable assembly featured influential figures and organizations, including:
- Rep. Young Kim, Congresswoman (CA-40)
- Stephanie Cuevas, California and Nevada Credit Union Leagues
- Irma Gorrocino, California and Nevada Credit Union Leagues
- Adam Wood, California Building Industry Association
- Jeremy Empol, FHLBank San Francisco
- Greg Ward, FHLBank San Francisco
- Laura Archuleta, Jamboree
- Ana Fonseca, Logix Federal Credit Union
- Michael Ruane, National Core
- Jeff Ball, Orange County Business Council
- Tim Shaw, RCE, Pacific West Association of REALTORS®
- Diana Kot, SchoolsFirst Federal Credit Union
- William Shopoff, Shopoff Realty
- Cesar Covarrubias, The Kennedy Commission
- Matthew Kemfer, The Kennedy Commission
- Maggie Pacheco, Wescom Credit Union
Impact of FHLBank San Francisco in the Region
Since 1990, FHLBank San Francisco has invested $4.5 million in grants specifically aimed at promoting affordable housing within California’s 40th Congressional District. This funding has contributed to the development of 401 affordable housing units for low-income families. Additionally, the Workforce Initiative Subsidy for Homeownership (WISH) program has provided $887,000 in grants, enabling 57 first-time homeowners to achieve their dream of homeownership.
About Stakeholding Organizations
Orange County Business Council
For three decades, the Orange County Business Council (OCBC) has committed itself to enhancing the economic landscape of the region. The Council’s initiatives focus on economic development, workforce education, housing advocacy, and infrastructure investment. Further information can be found at ocbc.org.
Federal Home Loan Bank of San Francisco
The FHLBank San Francisco operates as a cooperative focused on bolstering local lenders across Arizona, California, and Nevada. By offering various resources and tools, it aims to promote affordable housing, economic vitality, and community revitalization.
Contact Information
For further inquiries, please contact:
Tom Flannigan
FHLBank San Francisco
415-616-2695
in**@****sf.com
