California is in the midst of a severe housing supply crisis, resulting in rapid price increases for homes for sale and for rent throughout the state. Once sought after for its greater affordability, many Central Valley communities have become unaffordable for low- and moderate-income households. About 60% of Fresno County renters are “cost-burdened”—meaning they spend more than 30% of their income on rent—with a disproportionate impact on Fresno’s majority minority population. Since 2017, rent in Fresno has increased faster than anywhere in the country.
This webinar will highlight innovative finance and development strategies, and engage in big ideas to meaningfully grow affordable housing supply in the Central Valley. Participants will also connect with stakeholders throughout the Valley to foster Community Reinvestment Act (CRA) partnerships to expand creative strategies to increase affordable housing development, particularly in majority minority communities.
Community stakeholders such as CDFIs, housing developers, affordable housing organizations, bankers (CFOs, lending officers, CRA officers, community development managers/directors), and government agencies engaged in the development of affordable housing.
This event is hosted by the Federal Reserve Bank of San Francisco, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency.