Home ->> CDIAC ->> Education ->> Description

The availability of affordable housing is key to building and maintaining evolving and diverse economies that are able to endure inevitable economic cycles. Thriving local economies are the engines that drive the financial capacity to meet community service level expectations, finance capital projects, and maintain long-term financial sustainability. This program will explore many of the finance-related obstacles that are constraining the availability of affordable housing, the implications for local public financial planning, and the opportunities to overcome the challenges of the housing crisis with new and innovative public finance policy and approaches.

Introduction: Mapping the Intersection of California’s Housing Crisis and Public Finance

The introductory speaker brings a unique perspective to the intersection of affordable housing and public finance. As California’s Legislative Analyst, he has been immersed in the policy analysis of proposed and enacted legislative solutions. As a former credit analyst, he was S&P Global’s primary analyst for the State of California and, in that role, highlighted the connection between affordable housing and financial sustainability of the state. This presentation will lay a foundation for the program, frame the problem, and explain why public finance is at the center of solving this high-stakes challenge. Introduction Replay ➤

Session One | Gaining Ground in the Affordable Multi-Family Housing Segment

The development of high-density multi-family housing is an efficient and effective method of gaining on the housing deficit, particularly in the difficult to reach affordable market segment. Although public finance has successfully supported the development of affordable multi-family housing for many years, it has become increasingly difficult for the public-private development partnership to maintain its record of success - much less make the gains that are desperately needed. Panelists will discuss the challenges of assembling the capital stack required for development, the policy efforts underway to address the challenges, and the innovative public-private approaches to development in this critical housing segment. Sessions One and Two Replays ➤

Session Two | Opportunity in Our Own Backyards: Development and Finance of Accessory Dwelling Units

Accessory dwelling units (ADUs) offer a unique opportunity to provide affordable housing options for students, the elderly, disabled, and others, in order to integrate housing into existing neighborhoods with established services and infrastructure. Changes in state law have streamlined approvals and have made ADU development a legitimate contributor to overcoming California’s housing deficit, but challenges to widespread adoption remain. Speakers will discuss how the ADU segment has opened up, obstacles that remain, innovative local development approaches, and financing concepts that can make ADUs mainstream. Sessions One and Two Replays ➤

Session Three | Planning for the Housing Surge

California’s housing crisis is a top public policy concern among lawmakers in Sacramento. Legislators are determined to break through the barriers to new housing supply with laws addressing planning, zoning, permitting, and financing. If statutory goals are realized, these enormous policy shifts will cause a wave of new housing projects across the state that will place tremendous pressure on local agencies to ramp up service levels and supply necessary infrastructure. Speakers will address the legislative initiatives that will drive the surge, how public finance professionals should think about preparations, and innovative financing and funding adaptations and approaches that may provide financial resiliency. Session Three and Keynote Replays ➤

Keynote Discussions

Keynote Speakers

Session Three and Keynote Replays ➤

Series Resources

Slides

• Combined Slides
• Introduction: Mapping the Intersection at of California’s Housing Crisis and Public Finance
• Session One | Gaining Ground in the Affordable Multi-Family Housing Segment
  No slides for this session.
• Session Two | Opportunity in Our Own Backyards: Development and Finance of Accessory Dwelling Units
• Session Three | Planning for the Housing Surge

GFOA Best Practice

• “ESG” Best Practice - “S” Social
  GFOA has developed a suite of best practices addressing each element of ESG. This best practice focuses on the “S” – Social factors of ESG and makes recommendations to governments on how best to identify social factors, including affordable housing, impacting their jurisdiction and determine whether those factors impact credit quality.

Housing Resources

• Legislative Analyst's Office (LAO) Housing Publications
  Collection of LAO’s publications that discuss various aspects of California’s Housing Crisis. 
• Multifamily Rental Housing: Financing With Tax-Exempt Bonds | Orrick, December 2020
  This pamphlet is designed to introduce or broaden the understanding of developers, state and local agencies, and others regarding the role of tax- exempt bonds in the financing of multifamily rental housing projects.

Accessory Dwelling Unit (ADU) Resources

• San Diego Housing Commission (SDHC) ADU Page
  This page includes SDHC’s “lessons learned” with regard to site feasibility, design, construction, cost, timeline, oversight needed, and other development-related aspects that may arise with the development of ADUs.

• Implementing the Backyard Revolution: Perspectives of California’s ADU Owners | UC Berkeley Center for Community Innovation, April 2021
  This report presents the findings from the first-ever statewide ADU owner survey in California.

Community Facilities District (CFD) Fundamentals

• An Introduction to Community Facilities Districts | NBS, March 2020
  Ten-minute overview of essential information regarding the evolution, law, formation process, and administration of CFDs.
• Mello-Roos Community Facilities Districts Fundamentals | CDIAC, November 2020
  Two-part webinar mini-series that discusses the Mello-Roos act, CFD formation process, and ongoing administration requirements once a CFD has been formed.

Continuing Education Credits

The Bond Buyer coordinates Continuing Education Credits for this program, all questions regarding these credits and certificates of attendance should be directed to them.