Housing Trust Fund Ventura County announces $3,085,000 in new funding to support the creation of additional affordable homes in the County

Housing Trust Fund Ventura County (Housing Trust Fund VC) announces $3,085,000 in new funds received for the development of additional affordable homes in Ventura County at a time when the need for housing affordability continues to rise sharply. The funds come from two investments, $1.5 million each, from the Weingart Foundation and Mechanics Bank. Additionally, three grants totaling $85,000 have been received from U.S. Bank, Citizens Bank, and an anonymous donor. Housing Trust Fund VC will put these new funds to work as the organization continues its commitment to help increase affordable housing options throughout Ventura County by leveraging public-private partnerships to provide low-cost, flexible loans early in the housing development cycle.
The Weingart Foundation’s $1.5 million Program Related Investment (PRI) into Housing Trust Fund Ventura County’s Revolving Loan Fund is focused on providing for communities in need. “We are proud to partner with Housing Trust Fund Ventura County to support their efforts to create quality housing in their community that is truly affordable for those who need it the most,” says Weingart Foundation CEO Joanna Jackson. “We recognize that a critical step in addressing racial and economic inequity is ensuring that everyone has a reliable and comfortable place to call home.” The Weingart Foundation is a private grantmaking foundation advancing racial, social and economic justice in Southern California. The $1.5 million investment will be for five years at an interest rate of 2%.
 
Mechanics Bank has renewed and expanded their original $250,000 investment to $1.5 million. The bank notes that it supports local organizations, such as Housing Trust Fund VC, that help brighten the lives of its neighbors and enrich the quality of communities in which they live and work. This investment has a potential five-year term at an interest rate of 3.75%.

U.S. Bank’s $50,000 Community Possible Grant aims to support communities through actions focused on addressing racial and economic inequities and creating positive and transformative change. The bank has a history of supporting Housing Trust Fund  VC and its sister agency, Housing Land Trust VC. In 2024 alone, U.S. Bank has donated a combined $125,000 to the organizations in support of affordable housing. Citizens Bank has donated $25,000 through a Community Reinvestment Act (CRA) grant. Their investment showcases Citizens Bank’s commitment to the communities in which we live, work and serve by investing in local organizations that address community issues in the hopes of creating a broader impact. Additionally, an anonymous donor has gifted Housing Trust Fund VC $10,000.
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“Fostering deeper connections with long-time corporate investors and grantors highlights the value of community investment, offering mutual benefits for local employers and residents alike—an ethos that has guided Housing Trust Fund VC since its inception,” says Linda Braunschweiger, CEO of Housing Trust Fund Ventura County