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​https://www.housingtrustfundvc.org/news--events

Funding programs

​Over $10.2 million invested to date resulting in 720 affordable housing units 

THE “REVOLVING LOAN FUND”

The Housing Trust Fund Ventura County ​provides below-market interest rate loans to developers who create new affordable housing within Ventura County.

Eligible projects include:
  • New construction of affordable housing
  • Acquisition and conversion of market rate housing to affordable housing
  • Acquisition and conversion of non-residential properties to affordable housing

Loans are awarded for:
  • Acquisition, pre-development, gap financing, and/or construction of multi-family projects.
  • Generally, but not exclusively, short-term (3 to 5 years)
  • Minimum amount $50,000; maximum amount $2 million
  • Projects with a long-term affordability requirement (30 to 55 years)

Priority is given to projects that serve:
  • Veterans, homeless, farm workers, and young adults transitioning from foster care;
  • Families and individuals at the lowest income levels.

​Eligible applicants for funding include for-profit, non-profit and public agency developers of housing in Ventura County that is affordable to individuals and families of low income, or below. No funding is awarded directly to clients in need of housing. As the loans are repaid by loan recipients from construction financing, permanent financing, etc. the funding is available to loan to other eligible applicants and projects.

Applying for a loan

Applications are received, evaluated and funded year-round as finances allow, on a first-come basis. The evaluation process is:
  • Submit your letter of intent providing project and loan request information 
  • Housing Trust Fund VC will review and provide feedback, requesting clarification, additional information or invite a full-application
  • Submit a full application (see below), including all schedules, approvals and financial information required
  • Housing Trust Fund VC application approval and underwriting review
  • Escrow and loan funding​
Predevelopment and Acquisition Loans
Construction Loans with Prop. 1 State Match
Document submission timeline: Applications accepted year-round; Approval and funding as finances permit.

Loans since 2012

$18.8 million loaned to-date to produce 887 new affordable housing units.