U.S. Rep. Young Kim Joins Orange County Business Council and FHLBank San Francisco for Affordable Housing Roundtable

Stakeholders explore solutions to address tight housing supply and affordability

SAN FRANCISCO and IRVINE, Calif., April 25, 2025 (GLOBE NEWSWIRE) -- In a continued effort to address the growing affordable housing crisis in Southern California, U.S. Rep. Young Kim (CA-40) convened a roundtable discussion today with the Orange County Business Council and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) in Irvine, California. Kim co-chairs the bi-partisan Congressional Financial Literacy and Wealth Creation Caucus and serves on the House Committee on Financial Services. The roundtable convened housing advocates, financial institutions, community organizations, and other key stakeholders that hold a vested interest in creating generational wealth through homeownership and a greater understanding of financial well-being.

“Rising housing prices are making life unaffordable for too many hardworking families in our community,” said Rep. Kim. “We need all hands-on deck to combat this housing crisis, which is why I appreciate local community leaders from public and private sectors for joining me for a productive roundtable discussion on how we can create more affordable housing options and help families struggling to make ends meet.”

Kim represents California’s 40th District, covering portions of Orange , San Bernardino, and Riverside Counties. She serves on the House Financial Services Committee and the House Foreign Affairs Committee, and is a strong advocate for economic development, financial literacy, and regulatory frameworks that support growth. She also co-chairs the Women in STEM Caucus and the Maternity Care Caucus. Through her partnership with FHLBank San Francisco and its member financial institutions, Kim is advancing practical solutions to support her constituents and strengthen the Southern California business community.

“Housing availability at all levels is fundamental to OCBC’s mission of advancing economic development in Orange County,” said OCBC President and CEO Jeff Ball Corp . “We are fortunate to have leaders like Congresswoman Kim who understand that expanding our housing supply is essential to sustaining the region’s growth and quality of life. By supporting increased housing options, we can ensure that our workforce has the opportunity to live closer to their jobs. Congresswoman Kim has been a steadfast advocate for Orange County, and we look forward to continuing our partnership with her.”

FHLBank San Francisco has joined public officials at 10 roundtables over the past year as part of its mission-driven focus to partner with its member financial institutions, housing developers and community stakeholders to foster economic growth and resilience across communities.

“Today’s conversation with Congresswoman Kim and regional leaders underscores the urgent need for collaborative, cross-sector action,” said Joe Amato, interim president and chief executive officer of FHLBank San Francisco. “The aftermath of recent Southern California wildfires has only deepened the housing challenges in this region. We’re committed to working alongside our members and community partners to increase access to affordable housing, expand financial literacy, and support economic opportunity throughout Arizona, California, and Nevada.”

Attendees at the roundtable included:

FHLBank San Francisco’s Impact in California’s 40th District 

Since 1990, FHLBank San Francisco has awarded $4.5 million in grants for affordable housing and to boost homeownership in California’s 40th Congressional District, supporting the development of 401 affordable housing units for low-income individuals and families. In addition, through its Workforce Initiative Subsidy for Homeownership (WISH) program, FHLBank San Francisco has partnered with member financial institutions to provide $887,000 in grants since 2003, helping 57 first-time homebuyers — including teachers, healthcare workers, and service industry professionals — achieve homeownership.

Across its three-state district of Arizona, California, and Nevada, FHLBank San Francisco is committed to supporting a range of housing initiatives in partnership with its member community financial institutions. Since the Affordable Housing Program’s inception, the Bank has awarded over $1.38 billion in grants, helping to construct, rehabilitate, or purchase more than 155,000 affordable housing units — including $61.8 million awarded in 2024 alone. As part of the Federal Home Loan Bank System, FHLBank San Francisco is one of the nation’s largest privately capitalized sources of affordable housing grant funding.

About Orange County Business Council

For 30 years, Orange County Business Council (OCBC) has been representing and promoting the region’s business community together with government and academia to enhance the economic development of Orange County, California. The Council’s core initiatives include developing pro-business solutions that lead to economic growth, education development that leads to a competitive workforce, advocating for a range of housing alternatives, and promoting appropriate investment in regional and statewide infrastructure for the nation’s sixth most populous county. Member organizations include businesses and local organizations representing a diverse cross section of industries including biomedical, construction, education, financial services, health care, manufacturing, municipalities, nonprofit, technology, tourism, transportation, real estate and utilities. For more information, visit ocbc.org.

About 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: Contact:
Tom Flannigan
FHLBank San Francisco
415-616-2695
flannigt@fhlbsf.com