The CalHFA General Board Meeting held on January 28, 2025, focused on the state budget and its implications for housing and homelessness in California. The meeting began with an overview of the state budget process, highlighting that Governor Newsom's budget proposal for the 2025-2026 fiscal year was unveiled on January 10. The final budget will not be confirmed until June, indicating that discussions are still in the early stages.

A significant emphasis was placed on housing and homelessness, which remains a priority in the Governor's budget. The administration aims to build on previous successes in creating and financing housing units while holding cities accountable. A key proposal discussed was the establishment of a new California housing and homelessness agency. This agency is intended to create a more integrated approach to address the state's ongoing housing challenges. The proposal outlines three main priorities: affordability, efficiency, and accountability, which will guide further details expected in the May budget revision.

The meeting also addressed the impact of recent fires in Southern California, which have shifted some budget priorities. In response to these events, several housing bills are being introduced to facilitate rebuilding efforts in Los Angeles. Additionally, a notable allocation of $100 million in general funds for encampment resolution grants was highlighted, underscoring the connection between homelessness and the lack of affordable housing.

The board acknowledged that further details regarding state tax credits and other budgetary elements would be revealed in the upcoming May revision. Overall, the meeting underscored the administration's commitment to tackling housing and homelessness issues through strategic planning and resource allocation.