U.S. Rep. Jimmy Panetta Joins FHLBank San Francisco to Address Affordable Housing Crisis in Greater San José Area
2024年7月30日 - 4:09AM
Committed to prioritizing solutions for the affordable housing
crisis in California and the greater San José area, U.S. Rep. Jimmy
Panetta (CA-19) hosted a roundtable discussion with the Federal
Home Loan Bank of San Francisco (FHLBank San Francisco) at the
Blossom Valley Senior Apartments in San José on Friday, July 26.
Joined by San José city councilmembers, Arjun Batra and Sergio
Jimenez, as well a representative from San José Mayor Matt Mahon’s
office, 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.
“Housing affordability is a top concern for families in South
San José and across California’s 19th Congressional District,” said
Rep. Panetta. “Today’s roundtable with housing leaders in our
community and agencies at the federal, state, and local levels was
a critical gathering upon which we can strengthen the partnerships
needed for an all-hands-on-deck approach to tackling our affordable
housing issues. There’s more to be done, and I hope to ensure that
the federal government plays its part through my bipartisan
legislation to expand workforce housing, increase the capital gains
tax exemption on home sales, provide more vouchers for low-income
housing, and encourage first-time homebuyers so that working
families can not only have a place to call home, but also be able
to call our community home.”
“California is ground zero for the housing affordability crisis
across the nation, and it will take continued focus and strategic
partnerships in our communities to tackle these issues,” said
Alanna McCargo, president and chief executive officer of FHLBank
San Francisco. “We appreciate Congressman Panetta’s dedication to
addressing the affordable housing crisis in his district and for
convening this diverse group of community leaders committed to
collaborative solutions. For decades, FHLBank San Francisco has
been enabling equitable and sustainable homeownership, and we will
continue to provide resources and foster partnerships that work to
ensure California residents have access to affordable housing.”
With the support of its member institutions, FHLBank San
Francisco recently announced that its 2024 Affordable Housing
Program has awarded $49.3 million to support affordable housing
initiatives in California, including a project in Atascadero,
within Rep. Panetta’s district. The Del Rio Ridge housing project
in Atascadero was awarded $820,000 to help build 41 units of
affordable housing. The project will have one-, two- and
three-bedroom units, with nine units reserved for the unhoused.
Residents will have access to amenities including a large community
room with a kitchen, multipurpose room, laundry facilities,
restrooms, and office space for the onsite manager and resident
supportive services. Outdoor amenities include a courtyard with
children's play equipment and a basketball court.
“I agree with Congressman Panetta that there is more to be done,
including streamlining processes among all levels of government,”
said San José Councilmember Arjun Batra. “On a local level,
facilitating policies that remove barriers to housing development
and reduce the permitting and building timeline, for example, will
contribute to housing affordability.”
“I am committed to supporting housing projects in San José and
being part of affordable housing solutions,” said San José
Councilmember Sergio Jimenez. “I appreciate the collaboration at
today’s roundtable and look forward to joining forces with leaders
in both public and private sectors to make a broader impact."
In addition to Congressman Panetta, San José City Council
members Batra and Jimenez, and senior members of FHLBank San
Francisco, attendees included:
- Vince Rocha, San José Mayor's Office
- Ali Sapirman, Housing Action Coalition
- Andy Lief, Charities Housing
- Greg Kepferle, Catholic Charities of Santa Clara County
- Joe Brown, Santa Clara Associations of REALTORS
- Mark J. Mikl, Charities Housing
- Michael Smith, Bay Federal Credit Union
- Michelle Perry, Santa Clara Associations of REALTORS
- Neil Collins, Santa Clara Associations of REALTORS
- Regina Celestin Williams, SV@Home
FHLBank San Francisco is dedicated to supporting housing
initiatives throughout its three-state region, including Arizona,
California, and Nevada. Since 1990, the Bank has awarded $1.3
billion in AHP grants to construct, preserve, or purchase over
150,000 units of quality rental and owner-occupied affordable
housing, 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.
Contact: Tom Flannigan tom.flannigan@fhlbsf.com