HDFC executive committee adopts charter to centralize California multifamily housing finance

The executive committee of the Housing Development Finance Committee unanimously approved Resolution 26‑01 on the committee charter, formally establishing the governance framework for HDFC as it prepares to begin operations under the new California Housing and Finance Agency.

Chair Tomiquia Moss opened the inaugural meeting and described HDFC as “an independent department within the new California Housing and Finance Agency,” with its own authority and executive director. She introduced Jonathan Klein, who has been appointed the committee’s first executive director and is expected to begin in mid‑June ahead of a July 1 operational launch.

Christina Moon presented the charter’s purpose and scope, saying the document ‘‘outlines HDFC’s purpose, vision, mission, guiding principles, organizational structure, core responsibilities, executive committee roles, staffing framework, and meeting and decision‑making procedures.’’ The charter’s vision statement, cited by staff, is “homes that Californians can afford, communities where they can thrive,” and the mission is “to alleviate California’s affordable housing crisis. HDFC creates affordable homes by making California’s housing finance system simpler, faster, and more transparent.”

Committee members expressed broad support for a high‑level charter. Director Tony Sertich thanked staff for the work and said he was ‘‘very supportive’’ of what was presented. Director Gustavo Velasquez called the adoption ‘‘terrific’’ and said a charter should “lay out the principles” without overly detailed operational rules.

Velasquez moved to approve the charter and the committee voted by roll call with Chair Moss, Director Sertich and Director Velasquez registering affirmative votes. Courtney announced, “Resolution 26‑01 is approved.” The motion carried and the committee closed that agenda item amid applause.

The charter adoption is an initial governance step; staff said the committee will return with additional implementation materials including a proposed 2026 meeting calendar, draft guidelines and timelines for the consolidated application portal, and coordination plans for compliance monitoring.

Next procedural steps noted at the meeting include returning the 2026 calendar for formal adoption at the June meeting and beginning the guideline drafting process to support HDFC’s operational launch.