Housing Trust Fund Ventura County announces $2.5 million predevelopment loan for farmworker apartments in Somis
Ventura County, CA – Housing Trust Fund Ventura County (Housing Trust Fund VC) announces a $2,500,000 predevelopment loan approved for funding to AMCAL Multi-Housing, Inc. (AMCAL) for the Terra Campagna Apartments set to begin construction in November.
The need for affordable housing is felt throughout Ventura County, especially among our most essential workers. The Terra Campagna Apartments will serve the county’s large community of farmworkers and their families with 160 affordable housing units in Somis. This represents the second phase of the Somis Ranch Farmworkers Community development. Phase one consists of 200 units and is currently under construction with an anticipated completion date in the spring of 2024. Both developments will include community centers, social services, outdoor community spaces and play areas for all ages.
The Terra Campagna Apartments will provide high-quality affordable housing utilizing state-of-the-art design, providing modern amenities and on-site services to farmworker households with incomes at 30, 50, and 60 percent of AMI (Area Median Income). The site will include social gathering spaces designed to foster community including a resident garden and computer room. Tenants will coordinate with an on-site Social Service provider to determine programs which best serve the community. With a mind toward sustainability, the development will include energy efficient construction, solar PV generation, sustainable irrigation, and a non-smoking policy. “These apartments will not only provide affordable housing to one of our County’s hardest-working communities, it will also provide important resources families need to build their future,” said Linda Braunschweiger, CEO of Housing Trust Fund VC and Housing Land Trust VC. “Affordable housing is about more than building structures, it’s about creating a strong and stable foundation for our residents, which in turn helps our community to thrive as a more inclusive environment in which we all work, raise our children, and live.”
This development is funded in part by Housing Trust Fund VC’s Everyone Deserves a Home Revolving Loan Fund, which provides below-market interest rate loans for the development of affordable housing in Ventura County. This spring, Housing Trust Fund VC received a Community Impact Note (at below market interest rate) from CBC Federal Credit Union for $250,000. This Note is combined with funds from other public and private investors and donors to provide lending capital in support of Housing Trust Fund VC’s promise of building safe and equitable homes in Ventura County.
Ventura County, CA – Housing Trust Fund Ventura County (Housing Trust Fund VC) recently celebrated its 3rd Annual Compassion Campaign at beautiful Maravilla Gardens in Camarillo. Over 175 attendees gathered for a deeply moving interactive experience. Guests were immersed in an unforgettable evening highlighting the interconnectedness of people’s lives and how we are all impacted by the need for more affordable housing. Housing Trust Fund VC achieved a fundraising record high through generous donors, sponsors, and investors, once again highlighting that as a collective community we can work towards achieving housing equity for all in Ventura County.
Attendees received a special message from California Department of Housing and Community Development Director Gustavo Velasquez on the importance of housing policies and agendas, and how when we all work together progress can be made to tackle the affordable housing crisis in California.
“What an emotional and moving evening. It was amazing to see so many faces in support of providing funding solutions for affordable homes,” stated Housing Trust Fund Ventura County CEO Linda Braunschweiger, “A special thank you to City National Bank and all of our amazing sponsors. Together we will make a difference.” Compassion Campaign 2022 sponsors included City National Bank, CIT Bank, CBC Federal Credit Union, Bank of America, City of Buenaventura, McCarthy Construction, Montecito Bank and Trust, USA-HOPE, Ventura Ranch Partners, Williams Homes and more.
An evening highlight was hearing how affordable housing has positively impacted Daisy, a current resident of one of Housing Trust Fund VC’s funded developments. Daisy shared that after fighting addiction and homelessness, she finally has a place to call home, which changed the trajectory of her life in every way. With the audience in tears, Daisy concluded that more people like her can be helped when our community gathers at events like this to truly understand how affordable homes can lift people and families up.
To join our community in support of funding more affordable housing across Ventuera County, please visit: www.housingtrustfundvc.org/donate-now
Housing Trust Fund Ventura County announces California Department of Housing and Community Development Director Gustavo Velasquez to speak at immersive event on May 12th
Ventura County, CA – Housing Trust Fund Ventura County (Housing Trust Fund VC) announced today that Housing and Community Development (HCD) Director Gustavo Velasquez will keynote the nonprofit’s signature event – Compassion Campaign 2022 on Thursday, May 12th at Maravilla Gardens in Camarillo.
“We are honored that Director Velasquez sees the work we are doing here in Ventura County to provide safe, equitable homes for all and will be sharing his perspective on the state of affordable housing in California,” said Linda Braunschweiger, CEO, Housing Trust Fund Ventura County. “This year’s Compassion Campaign will be an unforgettable immersion experience, highlighting that our lives are connected through one common need – housing.” Similar to immersive experiences offered by the Museum of Tolerance in Los Angeles, guests will take a deeply moving journey as they experience housing challenges faced through the eyes of members of the local community, from farmworkers to bankers, students to teachers, baristas to veterans. Tickets for Housing Trust Fund Ventura County’s Compassion Campaign may be purchased at www.HousingTrustFundVC.org.
“I’m excited to be back in Ventura County and be a part of the 2022 Compassion Campaign event,” HCD Director Gustavo Velasquez said. “As we all know, housing is the foundation for everything else one needs to live a decent life, and this administration has made it a top priority to create the affordable housing our state so desperately needs. From the recent release of our new Statewide Housing Plan to big developments in many of the programs HCD administers, we have a lot to talk about, and I look forward to an insightful discussion.”
In May of 2020, Gustavo Velasquez was appointed by Governor Gavin Newsom to be the next Director of the California Department of Housing and Community Development. In this leadership role, Velasquez leads California’s housing policy agenda and administers a wide range of programs that produce, preserve, and protect affordable housing and communities of opportunity across the state. Velasquez was a senior director at the Urban Institute, a renowned national research organization working to provide data analysis and insights to policymakers and practitioners. Velasquez served for nearly three years as assistant secretary for fair housing and equal opportunity at the U.S. Department of Housing and Urban Development (HUD) and served on behalf of president as the strategic lead of the fair housing and inclusive community agenda for the Obama administration. During his tenure, HUD achieved groundbreaking enforcement victories in fair lending and in major housing discrimination cases. Velasquez led efforts to promulgate the landmark Affirmatively Furthering Fair Housing rule, a key tool for cities, states, and other HUD funding recipients to reduce inequality and disparities in access to opportunity.
Housing Trust Fund Ventura County announces $2 million in lines of credit received from Community West Bank and Mission Bank and $250,000 below market interest rate loan from CBC Federal Credit Union
Three loans to be funded, Fillmore Terrace in Fillmore, Mesa Ojai in Ojai, Westview II in San Buenaventura
Ventura County, CA – Housing Trust Fund Ventura County (Housing Trust Fund VC) announces two, $1 million lines of credit (LOC), one each from Community West Bank and Mission Bank, along with a $250,000 below market interest rate loan from CBC Federal Credit Union. The funds will be used as part of Housing Trust Fund VC’s Everyone Deserves a Home revolving loan fund, a community impact note that provides flexible, below-market interest rate loans for the development of affordable housing in Ventura County. Three upcoming developments that will receive funding are a new pre-development loan for Fillmore Terrace being developed by Peoples’ Self-Help Housing Corporation (PSHHC), a GAP loan for Mesa Ojai being purchased by Mesa, and a construction loan to the Housing Authority of the City of San Buenaventura (HACSB) for Westview II.
The LOCs provided by Community West Bank and Mission Bank and the loan from CBC Federal Credit Union join a pool of funds from other public and private investors, sponsors, and donors to provide lending capital in support of Housing Trust Fund VC’s Community Promise of building safe and equitable homes in Ventura County. Brian Schwabecher, Chief Banking Officer of Community West Bank stated, “Community West Bank is proud to support Housing Trust Fund Ventura County with financing for their housing initiatives, and we’re also honored to help sponsor the Everyone Deserves a Home Compassion Campaign event on May 12.” The nonprofit’s annual fundraiser takes on a unique twist this year as a guest immersive experience shining light on housing equity as told through the lives of connected individuals. Please visit:
www.housingtrustfundvc.org/compassioncampaign2022 to learn more.
Mesa, in partnership with Ventura County and PSHHC, is funded in part by a Housing Trust Fund VC $2.5M GAP loan. The development will provide housing and a wellness center for 13 Transition Age Youth (TAY). The plans include light renovation of a four-bedroom house, and the addition of 10 single occupancy tiny homes, in addition to space for a community building, health and wellness, employment, and education programs. The allocated funds for this loan, as well as the construction loan for Westview II (which will provide 50 homes to low-income and homeless seniors), were pulled from a pool of investments from Bank of the Sierra, Mission Bank and Community West Bank, and were provided to the developers at below market interest rates and reduced fees to help the developments move to the next phase of development.
“We are excited to build on our Community Promise of funding affordable homes with the support of both Community West Bank’s and Mission Bank’s generous lines of credit, which allow us to continue funding impactful developments,” states Housing Trust Fund VC CEO Linda Braunschweiger, “The Fillmore Terrace, Mesa and Westview II developments are such noteworthy examples of providing safe and equitable homes for those who need it most, because everyone deserves a home.”
Ventura County, CA – Housing Trust Fund Ventura County (Housing Trust Fund VC) has hired Jason Gaffner as its new Deputy Director, Loan Portfolio Manager. In this newly created position Gaffner will manage Housing Trust Fund VC’s portfolio of existing loans including underwriting and review to close loans expeditiously for affordable housing developments in the community. He’ll also work with developers to secure a pipeline of future loans and prepare documentation needed for reporting to investors, funders, grantors, and others.
Jason Gaffner joins Housing Trust Fund VC with two decades of commercial real estate finance experience, including over $600 million in real estate debt and equity successfully negotiated and closed. Prior to joining the organization, Gaffner held a senior member position on the west coast originations team for a real estate lending, investing and advisory company. He holds an MBA from Babson College with a focus on entrepreneurial management and a Bachelor of Science degree from The Wharton School, University of Pennsylvania with a dual concentration in finance and marketing.
“We are excited to welcome Jason to our growing team and certainly appreciate his expertise as both a mortgage broker and lender. His perspective on both ends is sure to provide numerous benefits for our developers, our fund, and most importantly those we serve to ensure housing equity for all,” states Housing Trust Fund VC CEO Linda Braunschweiger
Jason Gaffner was accepted into the 2022 Southern California Association of Governments Housing Policy Leadership Academy (SCAG-HPLA). The 10-session program provides an opportunity for people of different backgrounds and disciplines to better understand how to advance policy solutions that positively impact the need for affordable housing. The course offers perspective on the physical and social aspects of a successful housing ecosystem.
To learn more about Jason Gaffner, and Housing Trust Fund VC’s Community Promise of committing to funding solutions for safe, equitable and affordable homes in Ventura County for U.S. veterans, young adults transitioning from foster care, farm workers, homeless individuals, and low and very low income seniors, individuals, and families, please visit: www.housingtrustfundvc.org
HOUSING TRUST FUND VENTURA COUNTY TO HOST UNIQUE IMMERSIVE EVENING, “LIVES CONNECTED THROUGH ONE COMMON NEED.”
An unforgettable and deeply moving immersive event shining light on housing insecurity.
Ventura County, CA – Housing Trust Fund Ventura County (Housing Trust Fund VC) will host their 2022 Compassion Campaign on May 12, 2022, from 5PM-9PM, in-person at Maravilla Gardens in Camarillo. Sponsored in part by City National Bank, this unique evening invites guests into an immersive experience highlighting that all lives are connected through one common need – safe and secure housing. For tickets and sponsorship opportunities, please visit: www.housingtrustfundvc.org/compassioncampaign2022.
Housing Trust Fund VC’s Compassion Campaign invites guests on an unforgettable and deeply moving immersive journey, amplifying its message that, “Everyone deserves a home.” Inspired by immersive experiences offered by the Museum of Tolerance in Los Angeles and the Titanic Artifact Exhibition in Las Vegas, Compassion Campaign guests will assume the role of individual characters as they are immersed within connected lives on a journey through housing insecurity. From the opening reception through dinner and during the insightful program, participants will meet and become -- Jeff and his family, struggling college student and barista Javier, high school teacher Ms. Jasmine and her students Daniella and Cassie, foster youth Carla, veteran Ted, recently widowed Rosa, and cognitively impaired Jason.
“We’re pleased to be gathering once again, safely outdoors and in person for our annual fundraiser,” stated Housing Trust Fund VC CEO, Linda Braunschweiger. “This new, one-of-a-kind immersive experience centered on housing equity will be both engaging and memorable as we illustrate how it truly feels to experience housing insecurity, and how the need for affordable housing touches our daily lives, sometimes when and where we least expect it.”
Housing Trust Fund VC’s annual Compassion Campaign draws a diverse crowd of decision makers, community leaders, change makers and advocates for housing, mental health, homelessness, farm workers, foster youth, the disabled community, seniors, and more. This year’s unique immersive experience is certain to sell-out and sponsorship provides businesses and companies an opportunity to be seen as active leaders in strengthening our community, by positively impacting lives through supporting the development of safe and equitable homes in Ventura County. Sponsors like City National Bank, and CIT Bank, play an integral role in supporting our community promise of funding affordable housing solutions. For more information on how to become a Compassion Campaign sponsor visit, www.housingtrustfundvc.org/compassioncampaign2022.
Invites the community to learn more about the impact of affordable housing at January 26th Annual Meeting
Housing Trust Fund Ventura County (Housing Trust Fund VC) announced today a $1 million investment by Bank of the Sierra into the nonprofit’s Everyone Deserves a Home Revolving Loan Fund. This community impact note will be pooled with funds from investors, both public and private, to provide flexible, below-market interest rate loans in support of building safe and equitable homes in diverse neighborhoods, that positively impact people’s lives in Ventura County. Additionally, investors earn a modest financial return on their investment.
Housing Trust Fund VC also welcomed a $250,000 investment from CBC Federal Credit Union. “We are honored investors like Bank of the Sierra and CBC Federal Credit Union see the value in helping to support more affordable apartments and housing in our community,” commented Linda Braunschweiger, CEO of Housing Trust Fund Ventura County. “Having funded over $18 million in loans in the past 10 years, it’s truly a fulfilling moment to reflect on the significant impact we and our community partners have made and continue to make throughout our county by providing lending capital for the early development costs of affordable housing units, from land acquisition to early construction.”
Housing Trust Fund VC hosts Annual Meeting on January 26, 2022, 11:30 a.m. to 1:00 p.m. via Zoom. Join Housing Trust Fund VC at its Annual Meeting to learn more about its “Community Promise” – a commitment to positively impact people’s lives through the ongoing funding of safe and equitable homes. Local housing experts Ray Pearl, Executive Director of California Housing Consortium, and Troy Brown, Moorpark City Manager will join Housing Trust Fund VC CEO Linda Braunschweiger on January 26th from 11:30 a.m. to 1:00 p.m. via Zoom. Click HERE to register.
Our CEO was featured in the VC Reporter on November 23, 2021 as she discussed the high cost of living in Ventura County and the growing need for more affordable housing.
Article written by Nancy D. Lackey Shaffer, VC Reporter
$3.2 million to Westview Village II in Ventura and $800,000 to Homeless Solutions Center in OxnarD
Housing Trust Fund Ventura County announces a $3,225,000 construction loan commitment to the Housing Authority of the City of San Buenaventura (HACSB) for the Westview Village II and an $800,000 predevelopment loan funded to 2nd & B Street Homeless Solutions Center in Oxnard. Additionally, Housing Trust Fund VC has received operational grant funds in the amounts of $20,000 from Wells Fargo and $7,500 from Union Bank, with the potential to double with the State of California’s Proposition 1 match.
With an increasing need for senior affordable housing in the City of Ventura, the HACSB is replacing the city’s oldest and largest public housing complex with four new development phases, Westview Village II will service the need for housing with 50 senior units, including, five units specifically reserved for homeless seniors. This loan will be funded, in part, with direct impact from the 2020 State Prop 1 Local Housing Trust Fund match awarded last year. CEO at HACSB, Denise M. Wise shared “The Housing Trust Fund loan is critical funding for Westview Village II to provide needed housing for very low income seniors. Wise continues, “The Housing Authority of the City of San Buenaventura really appreciates the Trust Fund’s creativity and responsiveness to the community.”
2nd & B Street Homeless Solutions Center will include 55 affordable housing units, targeting the homeless community in Oxnard. The Center will be constructed on the first piece of land ever donated by the City of Oxnard to Housing Trust Fund VC, to be transferred to the Housing Land Trust Ventura County. The value of the donated land will be matched through Proposition 1 during a future construction loan. The Center is a joint collaboration between the City of Oxnard, Community Development Partners, and Mercy House and is a highly anticipated development for the community. President of Community Development Partners, Kyle Paine commented, “We are thankful to HTFVC for providing a predevelopment loan for our upcoming Permanent Supportive Housing (PSH) project in the City of Oxnard. It’s great when you can work with a lender that is efficient and also shares in your mission of bringing much needed affordable housing to communities.”
The Housing Trust Fund of Ventura County continues to amplify the increasing need for affordable housing, and invites mission-minded community leaders, CEOs, executives, business owners and others to join a virtual roundtable discussion sponsored by City National Bank on August 31st, from 4p.m. – 5p.m. on Zoom. The discussion will be led by Housing Trust Fund VC’s CEO Linda Braunschweiger and will be an opportunity for attendees to learn about the power of community impact investing, and how an investment can earn modest returns while contributing to a revolving loan fund that helps to provide safe and equitable homes built in richly diverse neighborhoods throughout Ventura County. “It’s through the support of investors, Prop 1 match, grantors, and sponsors that allows us to provide low cost, flexible lending capital for the development of affordable housing in Ventura County,” commented Braunschweiger, “We are thankful to have this ongoing support and know our community’s collective prosperity rises with each new affordable development built.” If you know a mission-minded corporate leader or if you’d like to join the roundtable discussion, please send an email to Linda Braunschweiger at or visit housingtrustfundvc.org for more information.
Camarillo, CA – Housing Trust Fund Ventura County (Housing Trust Fund VC) announced that it has received $1,826,265 from the U.S. Treasury’s Community Development Financial Institution’s (CDFI) Rapid Response Program, to support economic relief efforts in Covid-19 impacted communities. This award will directly impact affordable housing in Ventura County through Housing Trust Fund VC’s Revolving Loan Fund and provides an opportunity to double to potentially $3.6 million in lending capital under California’s Proposition 1 Local Housing Trust Fund matching grant program.
The CDFI grant award comes days after the nonprofit’s successful Second Annual Everyone Deserves a Home Compassion Campaign fundraising event, where keynote speaker Dr. Tiffany Manuel (aka Dr. T) of TheCaseMade spotlighted the growing need for housing equity. “Housing should not be the politics of luck. Regardless of where you come from, we are all worthy of safe and affordable housing.” Dr. T continued, “We are in a powerful moment because of organizations like Housing Trust Fund Ventura County. Being able to make critical capital available in a moment where so much is happening in our communities requires that we make strong investments in communities, and that’s really important.”
In response to the U.S. Treasury’s announcement Housing Trust Fund VC’s CEO Linda Braunschweiger commented, “We are incredibly honored to be receiving this significant grant from the CDFI Fund. It will make a positive impact on socio-economically diverse neighborhoods and will further aid in our push to develop housing that is affordable. We have the tools to leverage grants, donations, and community impact investments to help fund the most difficult housing to finance—low to extremely low income. This grant will help us open doors of opportunity for many.” Braunschweiger refers to the nonprofit’s Everyone Deserves a Home Community Impact Note as an investment tool for corporations, foundations, mid-size businesses, and individuals to invest in affordable housing in Ventura County while receiving a return on their investment. Housing Trust Fund VC is hosting a community impact investing roundtable on August 31, 2021, from 4-5pm where it will highlight the $2,150,000 in funded developments in 2021 and plans for the future. Anyone interested is welcome to attend by contacting Tobie@HousingTrustFundVC.org to reserve your seat.