U.S. Rep. Min Joins FHLBank San Francisco and the Orange County Business Council for Affordable Housing Roundtable in Irvine
IRVINE, Calif., April 24, 2026 (GLOBE NEWSWIRE) -- U.S. Rep. Dave Min (CA-47) today joined the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) in partnership with the Orange County Business Council, local housing leaders and community partners for an affordable housing roundtable in Irvine.
The roundtable focused on housing solutions that Congress can pursue to increase housing supply, improve affordability and reduce homelessness in Orange County. Participants discussed strategies to advance housing development, leverage public-private partnerships and address financing and regulatory barriers that continue to constrain housing supply.
“Orange County is facing a housing crisis which is threatening our economic future,” said Rep. Min. “The average home here costs over $1.4 million, and the high cost of housing is the number one reason people are leaving our region and the number one driver of homelessness in the OC. I’m grateful to the Federal Home Loan Bank of San Francisco and the Orange County Business Council for hosting today’s discussion on how we can address this affordability crisis, and I learned so much from the many key stakeholders who participated. This is exactly the type of broad-based coalition of federal, state, and local leaders we will need to solve this affordable housing problem.”
During the roundtable, participants also emphasized the importance of continued federal support for housing finance programs and the role of mission-driven institutions in closing funding gaps for affordable housing developments.
“We’re actively partnering with congressional leaders, our member financial institutions and community organizations to invest in solutions that expand the supply of affordable housing,” said Winthrop Watson, interim president and CEO of FHLBank San Francisco. “With housing costs remaining high across our region, this level of collaboration is essential, and together we’re focused on driving real progress to meet the urgent need for affordable housing.”
FHLBank San Francisco supports affordable housing initiatives across its district of California, Arizona, and Nevada. Earlier this year, the Bank committed up to $45.7 million in voluntary grant funding for 2026, doubling the bank’s voluntary contribution rate from approximately 5% to 10% of prior-year net income. This increased commitment will significantly expand support for affordable housing supply, homeownership opportunities and community development across its three-state district.
“Affordable housing availability in Orange County has become a workforce retention issue and a critical factor in our region’s long-term economic health,” said Paul Simonds, senior vice president and chief operating officer of the Orange County Business Council. “As the shortage of affordable housing grows, businesses face challenges retaining workers who can no longer afford to live near their jobs. Public-private partnerships that expand affordable housing supply are essential to attracting talent, stabilizing the workforce, and sustaining economic growth.”
In addition to Rep. Min and his staff, roundtable participants included:
- Rep. Dave Min (CA-47)
- Stephanie Cuevas, California and Nevada Credit Union Leagues
- Irma Gorrocino, California and Nevada Credit Union Leagues
- Robert Hartman, Home Smart
- Paul Simonds, Orange County Business Council
- Mary Jane Cambria, Orange County REALTORS
- Janet Keo Conklin, Orange County REALTORS
- Robert Hartman, Orange County REALTORS
- Collin Powers, Orange County REALTORS
- Susan Sanders, Orange County REALTORS
- Sabrina Rabanal, Schools First Credit Union
- Emy Farrow-German, Southern California Association of Non-Profit Housing
- Aisha Mansoor, Southern California Association of Non-Profit Housing
- Cesar Covarrubias, The Kennedy Commission
- Carina Hollis, Wescom Credit Union
- Kelly Gear, Federal Home Loan Bank of San Francisco
- Anabel Cuevas, Federal Home Loan Bank of San Francisco
Since 1990, FHLBank San Francisco has awarded more than $1.4 billion in Affordable Housing Program grants to support the construction, rehabilitation or purchase of more than 156,600 homes affordable to lower-income households. Together, the 11 regional Federal Home Loan banks make up 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-driven cooperative helping local lenders in Arizona, California, and Nevada 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 whole neighborhoods. Together with our members and other partners, we are making the communities we serve more vibrant and resilient.
Contact:
Tom Flannigan
Tom.Flannigan@fhlbsf.com
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