Those interested in working to identify unique and innovative affordable housing solutions in Ventura County, are invited to provide input during Housing Trust Fund Ventura County’s Annual Meeting. During the meeting the nonprofit will present a 2023 year in review and its current programs and services, along with “A Home for Education: Housing solutions on educational properties,” on Thursday, February 29, 2024, from 8:30 a.m. to 1:00 p.m. at the Grand Salon at California State University Channel Islands. “A Home for Education," is a collaborative symposium presented by Housing Trust Fund Ventura County, County of Ventura, CSU Channel Islands, Ventura County Office of Education, and Ventura County P-20 Council to bring together the education and affordable housing communities to discuss opportunities to develop affordable housing for educators on educational properties. Register free at https://AHomeForEducation.eventbrite.com.
Housing Trust Fund Ventura County (Housing Trust Fund VC) begins 2024 by announcing $88,000 in new funds for the development of affordable housing in Ventura County. The funds come in the form of $85,000 in grants from U.S. Bank, First Citizen’s Bank and PennyMac Financial Services as well as $3,000 in year-end contributions from private donors. The amount will be applied toward the increased need for affordable housing funding as the staggering need for housing continues to grow.
Housing Trust Fund Ventura County awarded $5 million in approved funding from SCAG’s Lasting Affordability Program
Housing Trust Fund Ventura County (Housing Trust Fund VC) has been awarded $5,000,000 from the Southern California Association of Governments’ (SCAG) as part of the Regional Early Action Planning (REAP) 2.0 Lasting Affordability program. The funding will support the creation of the Housing Trust Fund Ventura County’s Revolving Long-Term Loan Program for Infill Affordable Housing Developments Project. This project will establish a long-term loan program and will increase the lending capacities of Housing Trust Fund VC. In addition, this grant will provide resources to Housing Land Trust Ventura County (Housing Land Trust VC) to create policies and procedures which will advance Housing Land Trust VC to attract additional capital and land donations. The anticipated outcomes from the new fund include 656 affordable housing units in Ventura County by 2031.
Housing Trust Fund Ventura County announces approval of a $1.5 million acquisition loan for College Community Courts
Housing Trust Fund Ventura County (Housing Trust Fund VC) announces the approval of a $1,500,000 predevelopment loan to help fund College Community Courts, a People’s Self-Help Housing Corporation (PSHHC) affordable housing development in Ventura. With construction set to begin in late 2024, the new multi-family housing community will provide 57 affordable units for farmworkers and their families.
Housing Trust Fund Ventura County to receive $5 million from Prop 1 Local Housing Trust Fund program
Housing Trust Fund Ventura County has been awarded $5,000,000 from the Local Housing Trust Fund (LHTF) program by the California Department of Housing and Community Development (HCD). This is a result of the nonprofit’s ability to raise $5M in local funding to receive this 100% match from the California State Prop 1 matching grant program. This brings Housing Trust Fund Ventura County’s Prop 1 award total to just over $14M, which, through the development of safe and affordable housing, will positively impact the lives of farmworkers, veterans, low-income seniors, cognitively impaired individuals, people experiencing homelessness, transitional age foster youth, and extremely-low and low-income individuals and families.
Housing Trust Fund Ventura County announces $1,500,000 Line of Credit investment from Montecito Bank & Trust in support of affordable housing
Housing Trust Fund Ventura County (Housing Trust Fund VC) announces a $1,500,000 CRA line of credit from Montecito Bank & Trust. The EQ2 (equity equivalent investment) product being leveraged for this Community Reinvestment Act (CRA) line of credit is a long-term loan that allows community development financial institutions (CDFIs), like Housing Trust Fund Ventura County, to strengthen their capital structures and leverage additional debt capital resulting in the ability for increased lending and investing in economically disadvantaged communities, in this case through the development of affordable housing for seniors, farmworkers, the homeless, transitional age foster youth, and low-, very-low, and extremely-low income individuals and families in communities throughout Ventura County.
Housing Trust Fund VC’s Annual Compassion Campaign sets another fundraising record for second year in a row
Housing Trust Fund Ventura County set another fundraising record at its 4th Annual Compassion Campaign. With a strong showing of community leaders in attendance, the organization exceeded last year’s record setting fundraising high. Supported in part by Keystone Sponsors City National Bank and HOPE (Housing Opportunities for People Everywhere), the Museum of Ventura County provided the perfect back drop for this year’s theme, HOME MADE: Fund It + Build It + Live It, which featured three museum-quality exhibits that immersed guests into a learning experience, which highlighted through sight and sound what it takes to fund, build, and live in safe, equitable, and affordable homes in Ventura County.
Housing Trust Fund Ventura County to receive over $2 million in Federal and County funds in support of more affordable housing
Housing Trust Fund Ventura County (Housing Trust Fund VC) announced that the nonprofit has been awarded a $1.5M grant from the County of Ventura’s general fund for the development of affordable housing throughout the community and another $891,059 from the U.S. Treasury Department’s CDFI Fund Equitable Recovery Program. This combined $2,391,059 has the ability to be matched dollar for dollar by the State of California’s Proposition 1 Local Housing Trust Fund, bringing over $4 million to Ventura County in support of developing more affordable apartments and homes.
The process to receive funds from the national Equitable Recovery Program was highly competitive. Housing Trust Fund VC was the only Housing Trust Fund in the state to receive an award. In total, 696 Community Development Financial Institutions (CDFIs) from across the country requested a total of $7.69 billion, which is nearly 4.4 times the amount of funding that was available through this program. “This is a huge accomplishment that demonstrates the serious role we take in managing and expanding our financial resources for the production of safe, equitable, affordable housing,” said Tracy McAulay, Housing Trust Fund VC Board Chair.
Housing Trust Fund VC will leverage these County and Federal funds with matching funds from the State of California Prop 1 Local Housing Trust Fund, and other private and charitable sources, to bring even more funding to the county for the development of new affordable homes. In a letter of support presented to the county from the newly formed Ventura County Housing Coalition (VCHC), it was noted that year after year, the annual progress reports (APR) published by the state’s Housing and Community Development (HCD) department show how the rate of production for low-income units falls short of the Regional Housing Needs Assessment (RHNA) targets. Unfortunately, this means the new units being produced in the county are by and large set at rents that are unaffordable to low-income households.
“Since 2013, we’ve helped to fund the creation of 1,120 affordable apartments and homes in Ventura County. Sadly, however our county is #1 in the state and #2 in the nation experiencing the worst housing shortage. We’re more than 31,000 units short of the need.” Braunschweiger refers to a study, “Housing Underproduction in the U.S. 2022” released by Up for Growth, a nonprofit research group. “We are honored that the County and Federal government see the need in our community and trust Housing Trust Fund VC with helping to solve the problem. These funds will go a long way, especially with the ability to double them through Prop 1, towards meeting the housing affordability shortage.”
To learn more and get involved in helping to solve the housing crisis in Ventura County, Housing Trust Fund VC is hosting Compassion Campaign 2023 – “HOME MADE: Fund It + Build It + Live It” on Thursday, May 11th at the Museum of Ventura County. Three museum-quality exhibits will invite guests to stroll through and learn what it takes to fund, build, and live in safe, equitable, and affordable homes in Ventura County. For tickets, please visit www.housingtrustfundvc.org/2023cc-tickets.
RAIN Communities President David Kohlmeier to join Housing Trust Fund VC’s “HOME MADE: FUND IT + BUILD IT + LIVE IT” on May 11th
From “Resident to President”, Kohlmeier’s lived homeless experience provides a unique and highly personal perspective on affordable housing in Ventura County.
Housing Trust Fund Ventura County announced today that Camarillo-based RAIN Communities, Inc. President David Kohlmeier will emcee a powerful on-stage conversation during its annual fundraising Compassion Campaign on Thursday, May 11th, 5:00 p.m. to 9:00 p.m. at the Museum of Ventura County. This year’s Compassion Campaign theme, HOME MADE: Fund It + Build It + Live It, features three museum-quality exhibits that invite guests to learn what it takes to fund, build and live in safe, equitable, and affordable homes in Ventura County. For tickets and sponsorship opportunities, click here.
In 2006, Kohlmeier found himself and his then five-year-old son suddenly homeless. He credits his newfound faith and discovery of RAIN Transitional Living Center to set them on the road to security through access to safe, affordable housing paired with supportive transportation, healthy meals, job skills training, parenting counseling, and more. Now 17 years later, David’s son is a successful college student as David presides over RAIN Communities, Inc. (www.raincommunities.org) as its President and Chairman of the Board. “We are honored that David is leading our Home Made conversation,” stated Housing Trust Fund VC CEO, Linda Braunschweiger. “It’s important that we all see the faces of housing insecurity and hear their stories. Only then can we truly understand the life-changing impact that providing safe and affordable homes has on the adults and children of our community.”
Kohlmeier will be joined on-stage at this year’s Compassion Campaign by Braunschweiger as together they chat with Jennifer Harkey, Program Director for Ventura County’s Continuum of Care Alliance (www.venturacoc.org) and another local affordable housing resident who will share her journey as a senior in need of and ultimately finding an affordable home in Santa Paula.
Sponsored in part by City National Bank, HOPE (Housing Opportunities for People Everywhere), and Ventura Investment Company, Compassion Campaign 2023 - HOME MADE: Fund It + Build It + Live It, seeks to fully immerse guests into three hands-on exhibits complete with audio, video, and tactile items that tell the story of what it takes to fund, build and support residents who live in affordable Ventura County homes. Guests will be provided silent headphones as they are invited to first visit the Community West Bank sponsored FUND IT exhibit where they will learn that funding affordable housing is much like making lasagna. Moving on to the BUILD IT exhibit, sponsored by McCarthy Companies, guests will “virtually” walk through a beautiful affordable community to experience all that goes into developing these homes. Finally, guests approach the LIVE IT exhibit finding themselves at a kitchen table witnessing the positive impact affordable housing has had on residents’ lives as they tell their stories.
Housing Trust Fund Ventura County announces approval of a $1.1 million acquisition loan for Aspire Apartments in Oxnard supporting homeless and disabled individuals and families
Housing Trust Fund Ventura County (Housing Trust Fund VC) announces a $1,100,000 acquisition loan approved by its Board for funding to Many Mansions for the Aspire Apartments in Oxnard set to begin construction in 2024. The nonprofit had previously approved and funded a $250,000 pre-development loan back in January 2020. This brings the total funding from Housing Trust Fund VC to $1,350,000 in support of this development.
Aspire Apartments will consist of 56 one-bedroom units and 32 two-bedroom units, including a manager's unit, for a total of 88 apartments. Residents, comprised of extremely and very low-income families and individuals, and homeless and disabled individuals, will enjoy a community center, laundry facility, common area kitchenette, and recreational space. Uniquely, the second floor of the building will feature an outdoor community green space complete with BBQ and picnic area to help build an inclusive neighborly environment. Additionally, Oxnard Development Commission Successor Agency has partnered in this project to acquire and develop a pocket park that will be accessible to the public.
“This block in Downtown Oxnard has long been a mixture of unused buildings, half vacant lots, and an encampment of people who made homes from what they had,” commented Linda Braunschweiger, CEO of Housing Trust Fund Ventura County. “In a few years, the Aspire and Central Terrace apartments will bring 173 affordable housing apartments to this block, and the residents who struggled to make shelter in the empty lots will have the chance to find peace within a safe and comfortable home.” Braunschweiger refers to a neighboring affordable residence development, Central Terrace Apartments, which Housing Trust Fund VC has also supported with a $1.1 million pre-construction loan.
Housing Trust Fund Ventura County celebrates 10 years of lending in 2023, having committed or funded $26 million helping to create 1,120 affordable apartments and homes in Ventura County since 2013. The nonprofit invites the community to its Annual Compassion Campaign – a unique guest immersion. “Home Made: Fund It + Build It + Live It” invites guests to stroll through three powerful exhibits at the Museum of Ventura County that will showcase how safe, equitable, and affordable homes are funded, built, and lived in within Ventura County. This event is sure to sell-out as it did last year. Tickets available here.