09/01/2026
FROM SUE DIGRE:
HDFC Releases Draft Regulations
The Housing Development and Finance Committee (HDFC) today announced the release of the first draft HDFC regulations for public feedback. The draft regulations propose a more coordinated approach to affordable housing funding, designed to make California’s affordable housing finance system simpler, faster, and more transparent.
“These draft regulations are a big step toward modernizing California’s outdated and confusing housing finance system,” said California Housing and Homelessness Secretary Tomiquia Moss. “We look forward to hearing from our partners during our first public feedback period to ensure our regulations create the most effective and efficient system possible for the state of California.”
At its August 12 meeting, HDFC presented a high-level overview of key proposed changes, including a single application, coordinated review process, aligned award timelines, and consistent standards across programs.
“These proposed regulations mark meaningful progress for partners across California,” said HDFC Executive Director Jonathan Klein. “We are building a system that streamlines access to funding, reduces administrative burden, and ultimately will deliver more homes sooner for our communities. It’s a faster, simpler, and more transparent process- one that will serve California well.”
Public Feedback Opens TODAY, August 31, 2026
• HDFC’s draft regulations will be available for public review and feedback from August 31 through September 11, 2026.
• Read Full Draft Regulations on the HDFC website
The public can participate in several ways:
• HDFC invites feedback through the Public Feedback Form to share proposed wording or draft regulatory language, which will allow HDFC to swiftly track feedback to a specific section of the Regulations.
• Mail written feedback to:
Housing Development and Finance Committee
651 Bannon Street, Suite 400
Sacramento, CA 95811
Attention: HDFC Regulations Public Feedback
Public input will help inform the next stage of the regulations and HDFC’s work to create a more coordinated affordable housing finance system that helps California deliver more affordable homes.
What are HDFC Draft Regulations?
These draft regulations implement the Governor’s Reorganization Plan No. 1 of 2025 (Chapter 28, Statutes of 2026) and AB 179 (Chapter 68, Statutes of 2026), which establish the Housing Development Finance Committee (HDFC) and its Executive Committee and sets the governing framework for their operations. The regulations also streamline and consolidate multiple programs that were previously offered through separate Notices of Funding Availability (NOFAs).
Under HDFC’s coordinated award model, HDFC loans and grants may be paired with up to 50 percent of California’s Qualified Residential Rental Project (QRRP) Private Activity Bond allocation, set aside by the California Debt Limit Allocation Committee (CDLAC) and the corresponding 4% federal low-income housing tax credits (LIHTC). This model is designed to simplify the funding process and improve access to coordinated state resources through one application.
What’s Next?
This fall, HDFC will release a second draft of the regulations for the statutorily required 21-day public comment period and host a public hearing before the comment window closes. There will be opportunities to learn more about the regulations, including a webinar which will be held in September. Registration for the HDFC One Door application portal will open in November 2026. HDFC plans to open applications for its first funding round in early 2027.
Learn More or Get in Touch
Visit the Housing Development and Finance Committee (HDFC) webpage to learn more about HDFC, its Executive Committee, and next steps: https://www.hdfc.ca.gov/
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Questions? Email us at [email protected]
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The Housing Development and Finance Committee (HDFC) serves as California’s central body for the state’s multifamily affordable housing finance system. HDFC administers multifamily housing finance programs and coordinates funding resources across multiple state entities.