OUR VALUES
HOUSING STABILITY
Partnering with supporters, donors and developers in providing affordable housing options that create stable homes for underserved residents of Ventura County. |
TRUSTWORTHY
Taking seriously our role of managing and expanding our financial resources through responsible stewardship. |
PARTNERS
Leveraging public-private partnerships to provide early funding for affordable housing development. |
VALUE
Pairing non-traditional funds with creative financial products at below market interest rates to develop affordable housing. |
OUR MODEL
OUR HISTORY
Ventura County Housing Trust Fund (VCHTF) was created in 2008 to respond to the needs of affordable housing developments, which often experience funding gaps during the planning or construction phases. By 2016, VCHTF had become a state Certified Development Financial Institution (CDFI) and in 2018 it had earned a Federal CDFI, receiving financial support from all 10 cities in Ventura County.
In 2019, VCHTF rebranded as Housing Trust Fund Ventura County (Housing Trust Fund VC).
Ventura County continues to face a critical housing crisis. The lack of available housing that is affordable in Ventura County is having a negative impact on the quality of life throughout our region. Despite the downturn in the housing market during recent months, home prices and rental rates continue to outpace the incomes of many Ventura County residents. Without housing that is affordable to a range of income levels, Ventura County residents and businesses will continue to suffer from an overcrowding of public infrastructure and services.
While a regional housing trust fund is not the sole solution to the housing crisis in Ventura County, it is a powerful tool that draws developers and increases the opportunities of residents countywide to access decent, safe, affordable housing. Ensuring our residents can afford the roof over their heads and still have enough money to put food on the table, while meeting other needed expenses, is a goal that Housing Trust Fund Ventura County remains committed to every day.
Housing Trust Fund VC is a 501c3 non-profit | ID #45-3191747
Ventura County Housing Trust Fund (VCHTF) was created in 2008 to respond to the needs of affordable housing developments, which often experience funding gaps during the planning or construction phases. By 2016, VCHTF had become a state Certified Development Financial Institution (CDFI) and in 2018 it had earned a Federal CDFI, receiving financial support from all 10 cities in Ventura County.
In 2019, VCHTF rebranded as Housing Trust Fund Ventura County (Housing Trust Fund VC).
Ventura County continues to face a critical housing crisis. The lack of available housing that is affordable in Ventura County is having a negative impact on the quality of life throughout our region. Despite the downturn in the housing market during recent months, home prices and rental rates continue to outpace the incomes of many Ventura County residents. Without housing that is affordable to a range of income levels, Ventura County residents and businesses will continue to suffer from an overcrowding of public infrastructure and services.
While a regional housing trust fund is not the sole solution to the housing crisis in Ventura County, it is a powerful tool that draws developers and increases the opportunities of residents countywide to access decent, safe, affordable housing. Ensuring our residents can afford the roof over their heads and still have enough money to put food on the table, while meeting other needed expenses, is a goal that Housing Trust Fund Ventura County remains committed to every day.
Housing Trust Fund VC is a 501c3 non-profit | ID #45-3191747
THE HOUSING TRUST FUND MODEL
In this era of limited resources, Housing Trust Funds are able to attract capital from sources not traditionally dedicated to housing. They leverage these funds by combining private resources with foundation and public agency funds to build a revolving loan fund dedicated to expanding affordable and workforce housing. HTF loans are often made early in the development cycle, before traditional funding is available and thus provide the financial support and credibility necessary to attract other money.
In this era of limited resources, Housing Trust Funds are able to attract capital from sources not traditionally dedicated to housing. They leverage these funds by combining private resources with foundation and public agency funds to build a revolving loan fund dedicated to expanding affordable and workforce housing. HTF loans are often made early in the development cycle, before traditional funding is available and thus provide the financial support and credibility necessary to attract other money.
FUNDING
Housing Trust Fund Ventura County became a 501(c)(3) non-profit corporation in March of 2012. Unlike most HTF's funded solely through public means, funds supporting Housing Trust Fund VC, come from a number of public, private, and corporate sources, including:
GOALS FOR 2022
Housing Trust Fund Ventura County became a 501(c)(3) non-profit corporation in March of 2012. Unlike most HTF's funded solely through public means, funds supporting Housing Trust Fund VC, come from a number of public, private, and corporate sources, including:
- Local government funding from The County of Ventura and all ten cities: Camarillo, Fillmore, Moorpark, Ojai, Oxnard, Port Hueneme, San Buenaventura, Santa Paula, Simi Valley, and Thousand Oaks - $6.1 million (including commitments through 2023).
- State of California Housing Bond Funds approved by the voters - Prop 1C (2013-17), Prop 1 (NOW) - totaling $4,019,387 in 2020.
- Federal Funds received to date: $1,951,265 via Technical Assistant and Rapid Response Grants.
- Businesses such as Pacific Western Bank, City National Bank, Rabobank, Montecito Bank & Trust, Dyer Sheehan Group Inc. and California Commercial Investment Company.
- Earned Revenue from loan fees and interest - $138,331
- Other nonprofits such as McCune Foundation and Ventura County Community Foundation
- Individual donations such as Mike & Loretta Merewether, Karl & Mary Ann Krause, Ellen Brokaw and Edward & Elissa Czuker.
- Special Events such as HTF Ventura County's annual Everyone Deserves a Home Compassion Campaign fundraiser.
GOALS FOR 2022
- Raise $5 million by mid-2022 to maximize State Prop. 1 match Round 3.
- Fund $9 million in loans with Prop 1 matching funds.
- Raise $500,000 in Community Impact Note lending capital.
- Work with countywide coalition to establish a permanent source of funding for affordable housing in Ventura County.
- Increase marketing of newly created Housing Land Trust Ventura County. Connect with all cities and the County to discuss land donation.
- Increase awareness in the business community and with private investors of our Community Impact Note opportunity as a vehicle to support more affordable housing in Ventura County.
- Develop strategy for Housing Trust Fund VC to add long term financing as a loan product.
WHO WE SERVE
Housing Trust Fund Ventura County helps fund workforce housing for low to moderate income families and individuals. Priority is given to projects that create housing opportunities for:
Housing Trust Fund Ventura County helps fund workforce housing for low to moderate income families and individuals. Priority is given to projects that create housing opportunities for:
- Farm Workers
- Homeless Individuals and Families
- Seniors
- Very-low Income Individuals and Families
- Veterans
- Youth Adults Transitioning out of Foster Care
OUR HOusing Trust Fund Ventura County SPONSORS
|
|
|
|
360 Mobil Avenue, Suite 213A
Camarillo, CA 93010 (805) 384-1144 501 c3 #45-3191747 |