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HDFC Executive Committee adopts timeline recommendations (Resolution 2602) and posts 2026 meeting calendar
Summary
The HDFC Executive Committee voted unanimously to approve timeline recommendations for a consolidated application and aligned compliance monitoring (Resolution 2602) and approved the committee's 2026 meeting calendar as a consent item. The timeline shifts draft guideline release to early August and schedules final adoption for December.
The HDFC Executive Committee approved timeline recommendations for a consolidated application process and aligned compliance monitoring and adopted its 2026 meeting calendar during the session.
Deputy Secretary Christina Mun presented final recommendations for the consolidated application timeline and aligned compliance monitoring, noting a small update to previously discussed dates: the first draft of guidelines will be released for public comment in early August (rather than late July), the second draft will come in October (rather than September), and staff still plan final guideline adoption in December.
Director Gustavo Velasquez asked for a clarification tied to a governor's trailer‑bill proposal that would set aside 50% of a bond cap for HDFC awards, noting industry concern about a Nov. 1 reversion deadline on unused bonds. Christina Mun said 2026 will proceed as usual; 2027 is a transition year with some pipeline projects able to use bond allocations in 2027, but most new HDFC awards are expected to match bond allocations in 2028. "2026 is business as usual. 2027 is when we're starting up the HDFC subsidy rounds," she said, explaining that certain projects already in the pipeline could still close in 2027 and use bond allocations if the budget proposals move forward.
After discussion, Director Tony Sertich moved approval of the timeline recommendations and Director Gustavo Velasquez seconded. Secretary/Chair Tomiquia Moss voted Aye; Director Sertich voted Yes; Director Velasquez voted Yes. Courtney Pond announced, "Resolution 2602 is approved." The motion passed unanimously.
The committee then considered Item 5, the 2026 Executive Committee meeting calendar. Deputy Secretary Mun said the calendar adds a November meeting as a placeholder to allow extra touchpoints during the transition year. The committee treated the calendar as a consent item and approved it for posting to the HDFC website.
The committee asked staff to provide agendized updates and to share progress publicly, and Director Velasquez requested a future informational presentation on statewide housing production metrics to support guideline review. No further formal votes were taken during the meeting and the committee adjourned.
