U.S. Rep. Doug LaMalfa Joins Federal Home Loan Bank of San Francisco to Address Affordable Housing Crisis in Northern California

SAN FRANCISCO, Oct. 31, 2024 (GLOBE NEWSWIRE) — Committed to prioritizing solutions for the affordable housing crisis in Northern California, U.S. Rep. Doug LaMalfa, (CA-1) hosted a roundtable discussion with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) at the Northern California National Bank in Chico, California yesterday. The roundtable brought together leaders in affordable housing, community organizations, financial institutions, and other stakeholders throughout the area to discuss how organizations and public-private partnerships across government agencies could play a pivotal role in solving the housing crisis in California, specifically in rural areas of Northern California that are vulnerable to economic distress and area wildfires.

“I enjoyed discussing how we can tackle the critical issues of increasing housing supply, affordability, and economic growth in Northern California,” said LaMalfa following the roundtable event in Chico. “Regulatory reform and promoting public-private partnerships can help speed up this process. These efforts will create opportunities for our region and help us protect our way of life.”

“This roundtable is happening at a critical time in our district, and we are grateful for the partnership with Representative LaMalfa, an engaged leader and advocate for finding solutions to the housing crisis across California,” said Alanna McCargo, president and chief executive officer of FHLBank San Francisco. “We know firsthand the value when we convene a range of community voices to develop solutions and build innovations designed to improve affordability, increase housing supply and invigorate our local economy. The Federal Home Loan Bank of San Francisco is a reliable partner in the community that can enable the ideas coming from the roundtable through our broad and deep network of members.”

FHLBank San Francisco recently announced that its 2024 Access to Housing and Economic Assistance for Development (AHEAD) Program awarded $7.3 million in grant funding to boost economic development across the region, which includes a project in Chico, California, within Rep. LaMalfa’s district. Chico Housing Action Team (CHAT) rents affordable housing to people transitioning from homelessness and provides ongoing social services, personal attention, and housing support to maintain the client’s housing stability. CHAT was awarded $100,000 in AHEAD grant funding to enhance CHAT’s services with an improved intake process, support for furnishings, food delivery, property maintenance, transportation, and volunteers. The grant will also support adding new staff and the purchase of a wheelchair accessible bus to transport residents.

In addition to Congressman LaMalfa and members of FHLBank San Francisco, attendees included:

• Adam Pearce, Bill Webb Homes
• Amy Morin, Northern California National Bank
• Ashley Potočnik, City of Yuba City
• Leslie Depweg, Chico Real Estate
• Todd Lewis, Northern California National Bank
• Ron Sweeny, Sierra Central Credit Union
• John Giem, Tri Counties Bank
• Danna Prater, Tri Counties Bank
• Sarah Graham, Chico Housing Action Team
• Mehgie Tabar, California Housing Finance Agency
• Vladimir Kislyanka, Premier Enterprise Inc.
• Seana O’Shaughnessy, Community Housing Improvement Program (CHIP)
• Mark Montgomery, Community Housing Improvement Program (CHIP)
• Christy Covington, Golden 1 Credit Union
• Dominic Schuessler, Golden 1 Credit Union
• Larry Guanzon, Housing Authority of Butte
• Ed Mayer, Housing Authority of Butte
• Alisha Ake, Sierra North Valley Realtors
• Katy Thoma, Chico Builders Association

FHLBank San Francisco is dedicated to supporting housing initiatives throughout its three-state region, including Arizona, California, and Nevada. Since the AHP was created in 1990, FHLBank San Francisco has awarded over $1.35 billion in AHP dollars to support the construction, rehabilitation, or purchase of over 154,600 homes affordable to lower-income households, including $61.8 million in 2024 alone. Together, the 11 regional FHLBanks that make up the Federal Home Loan Bank System are one of the largest privately capitalized sources of grant funding for affordable housing in the United States.

About the Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco is a member-owned cooperative supporting local lenders in Arizona, California, and Nevada to build strong communities, create opportunity, and change lives for the better. The tools and resources we provide to our member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership, finance quality affordable housing, drive economic vitality, and revitalize neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant, equitable, and resilient.

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