The Terner Center for Housing and Innovation at UC Berkeley released an article analyzing the new California Housing and Homelessness Agency (CHHA), launching July 1, 2026.
CHHA’s goal is to centralize and streamline its fragmented affordable housing funding system, including creating a Housing Development and Finance Committee (HDFC) to oversee all multifamily subsidy programs and to potentially enable a “one-stop shop” application process that could reduce delays and costs.
Governor Newsom’s FY2027 proposal would further simplify financing by:
| 1. Shifting affordable housing funding from Affordable Housing and Sustainable Communities (AHSC) program to HDFC to centralize financing; and 2. Automatically providing 4% LIHTC credits and tax-exempt bonds to HDFC-awarded projects, with 50% set aside to ensure full project funding. |
Expected Impact: Faster approvals, lower costs, and more housing—avoiding the current multi-step process the Terner Center found delayed at least 165 recent projects over the last two years of 4 percent applications.
