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New HDFC pledges public‑comment regs, two rounds of hearings and a NOFA aimed for early 2027
Summary
Housing Development and Finance Committee leaders told the Assembly panel they expect two public‑comment rounds, a hearing and Executive Committee approval of regulations by December, followed by a NOFA and training of review teams for awards in 2027.
Christina Moon, deputy secretary of housing finance at the new Housing and Homelessness Agency, said HDFC has stood up an executive committee and is developing regulations and implementation materials with the stated aim of making a "one‑stop shop" for state multifamily affordable housing funding.
"We created the executive committee under HDFC to have that public facing body and platform for folks to comment directly, engage with, come forward, hear how decisions are made, in an open forum," Moon said, noting the executive committee had met twice with a third meeting scheduled.
Jonathan Klein, HDFC's inaugural executive director, described a work plan that moves from an initial 100‑day outline to a plan through the end of 2026. Klein said the HDFC team is drafting the first set of regulations with two public‑comment rounds and a public hearing planned, aiming for Executive Committee approval of final regs in December. He said the agency expects to issue a NOFA in the first quarter of 2027 and train review teams in late 2026 so reviews can be conducted in early 2027.
Klein emphasized process features HDFC will protect, including identifying statutory requirements that must be preserved while consolidating universal elements, and conducting two rounds of public comment to refine the initial drafts.
"The regs will go through 2 rounds of public comment and a public hearing with the aim of delivering the final version to the Executive Committee for approval at their regularly scheduled public meeting in December," Klein said.
