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:
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.
THE LOAN PROCESS Applications are received, evaluated and funded year-round as finances allow, on a first-come basis. The evaluation process is:
Initiate a conversation with the CEO Linda Braunschweiger at (805) 407-2455, providing project and loan request information.
HTFVC will review and provide feedback, requesting clarification, additional information or invite a full-application
Submit a full application, including all schedules, approvals and financial information required
HTFVC application approval and underwriting review
Escrow and loan funding
The documents below are all under construction in order to streamline our loan application and funding process.