Affordability Summit Convenes Top Leaders to Drive Concrete Action and Advance Systematic Change

LOS ANGELES, CA — March 03, 2026 — (NOTICIAS NEWSWIRE) — The City’s Community Investment for Families Department (CIFD) convened more than 200 leaders from across sectors on March 2 to address the poverty and affordability crisis in Los Angeles, which continues to drive housing instability, economic insecurity, and widening wealth gaps for all Angelenos.

The 2026 Making LA Affordable for All: A Summit on Equity, Access, and Economic Stability, brought together government agencies, elected offices, academia, philanthropy, and direct service at The California Endowment. The daylong gathering was dedicated to advancing bold solutions, strengthening cross-sector partnerships, and securing concrete commitments to alleviate poverty and improve affordability across Los Angeles.

“The Summit represents a critical turning point in how we confront poverty in Los Angeles,” said CIFD General Manager Abigail R. Marquez. “In 2024, we released the City’s Poverty Report, which laid bare the structural inequities driving economic hardship for too many Angelenos. Today, we are building on that foundation—bringing together leaders not just to discuss the data, but to act on it.”

More than 600,000 Angelenos live in poverty, and one in four Los Angeles County households experiences food insecurity—underscoring the scale and urgency of the crisis facing our region.

The Summit featured keynote remarks from Matthew Desmond, Pulitzer Prize-winning sociologist and author of Poverty, by America. Professor Desmond’s research and advocacy have reshaped the national conversation on poverty and economic justice, challenging institutions and communities alike to confront systemic inequities and chart a path forward.

Mayor Karen Bass, Council President Marqueece Harris-Dawson, and Councilmembers Adrin Nazarian, Katy Yaroslavsky, and Hugo Soto-Martinez also joined and emphasized the City's strong commitment to creating opportunities for economic stability for all Angelenos.

“For too long, poverty has limited opportunity for hundreds of thousands of Angelenos,” said Mayor Bass. “Housing instability, food insecurity, and widening wealth gaps are interconnected, and our response must be just as connected. This Summit is about bringing together strong partnerships to turn commitment into action. Together, we will take decisive steps to expand opportunity and make Los Angeles more equitable for all.”

Driving Policy and Systemic Change

The Summit featured high-impact panel discussions focused on:

Advancing Policy Reform to Dismantle Poverty – Exploring legislative and administrative strategies to remove structural barriers and promote economic equity.

Strengthening Housing Stability Across Los Angeles – Addressing homelessness prevention, tenant protections, and pathways to affordable housing.

Economic Development, Jobs, and an Affordable Los Angeles – Aligning workforce development, small business growth, and inclusive economic policies to create living-wage opportunities.

Major Announcements and Milestones

The Summit also served as the platform for several significant announcements, including a new City consolidation to streamline services. The Community Investment for Families Department (CIFD), Youth Development Department, the Department of Aging, and the Economic and Workforce Development Department will form a new Community Investment Department (CID).

This reorganization represents an important step toward a more coordinated, accessible, and effective system of City services.

Also announced was the formal launch of the Office of Community Wealth and Empowerment, which will advance the City’s commitment to financial empowerment through forward-thinking anti-poverty programs and policy.

With the launch of this office, Los Angeles is joining a growing national network of over 20 cities that prioritize municipal financial empowerment. Through a partnership with the Cities for Financial Empowerment Fund, the City will receive funding and advisory support for the framework and launch. The Office will house the City’s existing cash assistance and children’s savings initiatives, and is laying the groundwork to implement the Financial Empowerment Center model — strengthening the provision of free, professional, one-on-one financial counseling as a public service.

“Local governments have a critical role to play in building residents’ financial stability,” said Jonathan Mintz, President and CEO of the Cities for Financial Empowerment Fund. “This Office of Community Wealth and Empowerment, with dedicated leadership, is more than the sum of important individual programs – it’s a catalyst for truly embedding financial empowerment work across government. The Cities for Financial Empowerment Fund congratulates the City of Los Angeles on this strong commitment, and is thrilled to partner with Mayor Bass and her team to launch this new Office.”

The Summit represents a critical moment for Los Angeles to align resources, break down silos, and commit to measurable progress.

About the City of Los Angeles Community Investment for Families Department
The Community Investment for Families Department (CIFD) was officially created in 2022 to establish poverty-reduction goals for the City, play an active role in implementing homelessness-prevention programs, and build pathways for Los Angeles community residents in need to achieve financial security and prosperity.
For more information about our programs, please visit us at www.LA4Families.org