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FHLBank San Francisco Hosts Roundtable in Gardena to Seek Solutions to Availability of Senior Citizen Housing

With Special Guest Rep. Maxine Waters (CA-43)

(l-r) Lawrence Parks, FHLBank San Francisco; David Haithcock, California Independent Bankers; Rep. Maxine Waters; Keith Knudson, Community Bank; Tim Simons, FHLBank San Francisco.

GARDENA, CA–October 22, 2014–The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) hosted a roundtable discussion on Gardena’s housing issues, which include increasing the supply of affordable housing for the city’s aging population. Rep. Maxine Waters (CA-43) was a special guest at the event.

Among the 35 participants attending the event on Tuesday at the Nakaoka Community Center were banking officials, economic development professionals, affordable housing developers and social service providers.

“I am grateful to the Federal Home Loan Bank of San Francisco for inviting me to participate in this meaningful discussion on the challenges in developing affordable housing for seniors in Gardena,” Rep. Waters said. “I am pleased we could bring together advocates, experts and community leaders to have a candid discussion of the affordable senior housing needs of Gardena, what programs and initiatives may exist that can help, and what we can do to ensure more is available in the future.

“In Washington, I remain committed to using my role as Ranking Member of the Financial Services Committee, which has jurisdiction over housing issues, to ensure we are working to meet the housing needs of our aging population in Gardena and across our community,” Waters added.

Lawrence H. Parks, Senior Vice President, Legislative and External Affairs, for FHLBank San Francisco, noted that 14 percent of Gardena’s population of 58,829 was over the age of 65 or slightly more than 8,200 members of the community. This has created a strong demand for senior housing.

“Housing is a critical element in the lives of seniors,” Mr. Parks said. “The affordability of housing affects the ability of the elderly to afford other necessities of life such as food and medical care. The lives of senior citizens can be enhanced by housing that is located near hospitals and doctors, shopping, transportation, and recreational facilities. FHLBank San Francisco and our member institutions will work with the community stakeholders to find ways to increase the supply of affordable housing suitable for seniors.”

Stakeholders appreciated the opportunity to discuss the city’s housing challenges.

"In the 15 years I have worked for the City of Gardena, we have never had such a diverse group of business and community leaders at the same table to discuss this issue in depth,” said Yvonne Mallory, who is Manager of Economic Development for Gardena. “It is gratifying to have them working on solving our city’s challenges.”

Dean Matsubayashi, Executive Director of the Little Tokyo Service Center, said, “We value the leadership of FHLBank San Francisco to bring together the City of Gardena, local financial institutions, and community-based organizations to begin a constructive dialogue on how we can collectively increase the affordable housing stock for seniors and other low-income households. I also applaud Rep. Waters for her strong support on affordable housing issues.”

Among those attending the event were also representatives from the California Bank & Trust, Gardena Valley Japanese Community Institute, Little Tokyo Service Center, Cathay Bank, Coalition for Responsible Economic Development, Union Bank, Operation Hope, Community Bank, Bank of America, California Independent Bankers, Hahn Partners, Inc. and Behavioral Health Services.

About the Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services that help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities. FHLBank San Francisco also funds community programs that help members create affordable housing and promote community economic development. FHLBank San Francisco members are headquartered in Arizona, California, and Nevada and include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions.