 Housing Trust Fund Ventura County (Housing Trust Fund VC) announces the approval of an acquisition loan for $1,500,000 to support the development of Topa Vista Villas in Santa Paula. This loan was made possible by funds contributed by the CDFI Equitable Recovery Program ($757,000), and Community Impact Notes in the amounts of $259,000 from Montecito Bank & Trust, $243,251 from Community West Bank, and $240,749 in returned revenue, funds that have returned to the revolving loan fund. This loan will be combined with $3,000,000 in funding from Century Housing for a combined $4,500,000 to launch this multifamily affordable housing development. The Topa Vista Villas development will provide 111 units of affordable housing with over a third of the units being allocated for formerly unhoused individuals. The development is a collaboration between Homes & Hope, Cabrillo Economic Development Corporation (CEDC), and the Santa Paula Housing Authority (SPHA). Homes & Hope will serve as the Administrative General Partner, CEDC will oversee property management, and SPHA will provide support for long-term affordability.
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