The CalHFA Board of Directors convened on November 21, 2024, to discuss key performance metrics and strategic goals, revealing both successes and challenges in their housing initiatives. A significant highlight from the meeting was the approval of Resolution 24-22, which sets the stage for future actions aimed at enhancing housing accessibility in California.

Rebecca Franklin, the acting chief deputy director, presented a comprehensive overview of the agency's performance for the last fiscal year, emphasizing accountability and transparency. While the agency ended the fiscal year on a strong note, it faced challenges in meeting its unit count goals, falling short by approximately 400 units. Franklin noted that this shortfall stemmed from various factors, including project delays and withdrawals, which highlighted the need for more realistic goal-setting in future planning.

The board discussed the importance of adapting their strategies to improve the utilization of recycled bonds, which are crucial for financing affordable housing projects. Franklin mentioned ongoing efforts to engage with localities and broker dealers to enhance awareness and usage of these financial tools. The agency is also working on streamlining its data governance processes to better communicate its achievements and challenges.

In response to board members' inquiries, Franklin assured them that the agency is committed to reassessing its goals mid-year to ensure they remain attainable. The board expressed a desire for more diverse product offerings to mitigate reliance on a limited number of financing options, which can be vulnerable to market fluctuations.

As the meeting concluded, the board members acknowledged the agency's progress and the importance of maintaining open communication about performance metrics. The discussions underscored CalHFA's ongoing commitment to addressing housing needs in California, with a focus on accountability and strategic planning to enhance future outcomes. The next steps will involve a thorough review of performance in January, allowing for adjustments to goals as necessary to better serve the community.