Housing Trust Fund Ventura County announces new long-term financing program to expand affordable housing production in the region

Housing Trust Fund Ventura County (HTFVC), in collaboration with the Southern California Association of Governments (SCAG), announced the launch of a new Residual Receipts Loan Fund, a long-term financing program designed to accelerate the production of high-quality affordable housing while supporting developments that advance equity, financial sustainability, and long-term community benefit. Applications are currently being accepted until 5:00 PM on July 2, 2026. Learn more at https://www.housingtrustfundvc.org/residual-receipts-loan-program/ 

The program provides 15–18 year residual receipts loans to experienced public, nonprofit, and private developers constructing affordable housing for low-, very low-, and extremely low-income households. By aligning repayment with a project’s actual cash flow rather than a fixed amortization schedule, the Residual Receipts Loan Fund helps preserve long-term project viability while advancing deeper affordability for local residents. 

This program is designed to strengthen applicants’ competitiveness for Low-Income Housing Tax Credits (LIHTCs). Residual receipts loans and other forms of local “soft financing” can help development projects earn valuable bonus points in the California Tax Credit Allocation Committee (TCAC) scoring process, which is often the deciding factor in highly competitive funding rounds. 

Eligible developments must meet the following criteria: 

  • New construction of affordable rental housing located within Ventura County 
  • Housing must serve low-, very low- or extremely low-income households earning up to 80% of Area Median Income (AMI) 
  • Units must remain affordable for a minimum of 30 years 
  • Eligible borrowers include qualified nonprofit organizations, private-sector developers, public agencies, social service agencies, faith-based and community-based organizations, and partnerships between private developers and qualified 501(c)(3) organizations, with affordability protections secured through legal agreements 
  • The project must be in development by June 30, 2031 

“Affordable housing projects are increasingly complex and competitive,” said Linda Braunschweiger, CEO of Housing Trust Fund Ventura County. “By pairing long-term residual receipts financing with local support that strengthens LIHTC applications, we’re helping bring more deeply affordable homes to Ventura County; homes that will remain affordable for generations.