Effective July 1, 2013, pursuant to the Governor's Reorganization Plan No. 2 of 2012, the 2013-14 information for the California Housing Finance Agency is merging with this Department. 2011-12 and 2012-13 budget information for the California Housing Finance Agency is displayed in Organization Code 2260 under this new Agency (Business, Consumer Services, and Housing). The Department of Housing and Community Development was previously reported within the Business, Transportation, and Housing Agency.
The mission of the Department of Housing and Community Development (HCD) is to preserve and expand safe and affordable housing opportunities and promote strong communities for all Californians. The HCD: (1) administers housing finance, economic development and community development programs; (2) develops housing policy and advocates for an adequate housing supply; and (3) develops building codes and regulates manufactured homes and mobilehome parks. The HCD also provides technical and financial assistance to local agencies to support housing development.
The mission of California Housing Finance Agency (CalHFA), which was statutorily chartered in 1975 to be the State's affordable housing bank, is to create and finance progressive housing solutions so more Californians have a place to call home. The agency is financially self-supporting, setting loan interest rates slightly above its cost and charging fees to cover its lending costs and risks. The agency has $11 billion in assets that are comprised mainly of loan receivables and investments related to bond proceeds. Each year, the agency produces an annual report by November 1 and is audited by independent outside auditors. The annual report and audited financial statements outline the lending activity and services provided by the agency and the financial results of those activities. These reports can be viewed using the following link: http://www.calhfa.ca.gov/about/financials/reports/index.htm