Ventura County Civic Alliance: Livable Communities Newsletter
August 2019 vol.13 no.51
Housing Trust Fund Ventura County has a rare opportunity to bring a $10 million dollar matching grant from California State Proposition 1 to Ventura County to fund new affordable housing development. Our community continues to be one of most expensive places to live in the country. While multifamily development increased over the last ten years in CA, both multifamily and affordable housing production remains well below the goal. Housing prices are driving the cost of living out of reach for many residents of Ventura County and having a significant impact on the economic stability of our community.
Since the Housing Trust Fund Ventura County's inception in 2011, as a 501c3 nonprofit corporation, it has become the local trusted leader in helping to increase affordable housing options throughout Ventura County. The HTF leverages public-private partnerships to provide low-cost, flexible loans early in the housing development cycle. As of July 2019, HTFVC has invested $8 million through its revolving loan fund, creating 301 affordable apartments and homes for very-low, low- and middle income employees, transitional age foster youth, veterans, farm workers, and the homeless.
The organization has set a goal to raise the first $5 million of the funds required for the matching grant by the end of 2019 and already has close to $2.5MM committed. Linda Braunschweiger, CEO, said: "We need everyone's help to raise the $10MM match from the County, all ten cities, financial institutions, businesses, and individuals. As a community, we must step up financially to ensure we don't leave any of the $10MM of tax payers' dollars in Sacramento." HTFVC has a sizable pipeline of affordable housing projects currently being developed throughout the County that are in need of funding.
To learn more about how you can help with the $10 million matching campaign, please contact Linda Braunschweiger at 805-407-2455 or visit the website at www.HousingTrustFundVC.org.