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.”
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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

​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.

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.

Rounding out the signature event will be shared lived experience stories as individuals share how their life has been supported by affordable housing. A poetry reading accompanied with an artistic performance by poet Phil Taggart and artist Sienna Browne will spotlight homelessness.

In 2020, Housing Trust Fund VC held its first annual, “Everyone Deserves a Home Compassion Campaign,” highlighting how we can all make a difference in people's lives, from small acts of compassion, to being part of the affordable workforce housing solution in Ventura County. This year’s, “shaping lives through housing equity,” theme emphasizes the need of providing safe and equitable homes built in socially and economically diverse neighborhoods to positively impact the trajectory of people’s lives and our County’s collective prosperity.

To support the 2nd Annual Everyone Deserves a Home Compassion Campaign with sponsorship please contact Housing Trust Fund Ventura County CEO Linda Braunschweiger at Linda@HousingTrustFundVC.org or at 805-384-1144. This year’s sponsors will receive a spectrum of benefits, including recognition on Housing Trust Fund VC’s website, within social media, during the event, and more. With last year’s first virtual event drawing 135 attendees, there is an anticipated growth in attendance for this event, as community visibility and awareness has increased with ever growing housing prices and unaffordability becoming a real problem for too many residents in our community. To purchase tickets – www.housingtrustfundvc.org/compassioncampaign2021

​“We continue to be in awe of our generous sponsors and supporters, who have made impactful differences in support of affordable housing for Ventura County and who are committed to developing safe and equitable homes for all,” said Linda Braunschweiger, CEO of Housing Trust Fund VC. “Each sponsorship makes a statement about how vital and important investing in affordable housing is to our community, especially for our seniors, farmworkers, low-income families, essential workers, veterans and transitional age foster youth. Where we live shapes how we live, and we are truly grateful to those who choose to shape a better future for our community.”

​241 West Second Street land to be the future home of the Homeless Solutions Center
 
Ventura County, CA – Housing Trust Fund Ventura County (Housing Trust Fund VC), on behalf of the newly formed Housing Land Trust Ventura County, has entered into a disposition and development agreement to receive donated land valued at $840,000 from the City of Oxnard. Located at 241 West Second Street, the unused city land will be developed as the future home of the Homeless Solutions Center, a supportive housing development that will provide 55 permanent housing units, 120 shelter beds and 24-hour supportive services for the homeless population.

“In 2020 we formed the Housing Land Trust Ventura County as a way to provide lasting community assets and permanently affordable housing opportunities for families, workers and fixed-income residents in our County,” said Linda Braunschweiger, CEO of Housing Trust Fund VC and Housing Land Trust Ventura County. “By working to acquire donated land and preserve it for affordable housing developments we remove the most cost-prohibitive part of building affordable homes, which is the high cost of land.” Braunschweiger notes that Housing Land Trust Ventura County is designated by the State of California as a Supporting Nonprofit comprised of an 11-member Board of Directors who are working to identify and receive donated land in the region that can be developed to provide affordable housing on a 99-year lease for either rental housing or home ownership. The new nonprofit will not act as a developer but rather work with affordable housing developers selected through an RFP process. The land donated by the City of Oxnard is the first such project for the newly formed Housing Land Trust Ventura County.

“The land donated by Oxnard aligns with its 2018 five-year homeless strategy plan,” said City of Oxnard Housing Director Emilio Ramirez who is also a member of the Housing Trust Fund Ventura County Board of Directors. “The plan specifically calls for a permanent year-round homeless shelter putting housing first, which studies show can rapidly end homelessness by increasing housing stability.” The Homeless Solutions Center will be developed by Community Development Partners, LLC and on-site management will be provided by local nonprofit, Mercy House. The City of Oxnard will contribute an additional $1.5 million for the project build-out from allocated Measure O funds and the Housing Land Trust VC will work with the Housing Trust Fund VC to raise other funds needed to complete the project, which is set to start construction in the spring of 2022.

 Funds will double to $704,000 due to State Proposition 1’s matching grant program 

Ventura County, CA – Housing Trust Fund Ventura County (Housing Trust Fund VC) announced today that it is the recipient of two grants totaling a combined $352,000. These funds support the nonprofit’s continued work towards housing equity and rental market affordability within Ventura County. The grants will double to $704,000 thanks to California’s Proposition 1 with its 1:1 fund matching grant program that provides funding to Housing Trust Funds for the development of rental housing with a focus on low to extremely low-income housing units.

The City of Santa Paula granted $250,000 to Housing Trust Fund VC demonstrating their leadership and foresight into the growing need for affordable rental housing in Santa Paula. This grant will create housing stability and positive change for low income individuals and families, the homeless, veterans, people with disabilities, and youth transitioning from foster care. Past supportive funding from the City of Santa Paula has resulted in three major successful developments, Citrus Grove Apartments, Oakwood Court Apartments and Citricos de Santa Paula, amounting to a total of 25 units of senior housing in Santa Paula.

The second grant received by Housing Trust Fund VC is for $102,000 and comes through the Ventura County Community Foundation (VCCF) as part of its Farmworker Housing Fund. After many years of advocacy, the nonprofit is pleased to receive these funds which will be leveraged for the continued development of farm worker housing units in Ventura County. In the fall of last year, Housing Trust Fund VC funded an $850,000 predevelopment loan to People’s Self-Help Housing Corporation for the Cypress Place at Garden City development in Oxnard, providing 150 residential units some specifically for farm workers. This past February, the Ventura County Board of Supervisors approved the development of the Somis Ranch Farm Worker Housing complex, with a proposed 360 apartments for farm workers and their families.

​Linda Braunschweiger, CEO of Housing Trust Fund and recently recognized as one of the Top 50 Women in Business by the Pacific Coast Business Times, emphasizes the powerful impact safe and affordable homes has on farm workers and their families. “Our goal is to foster harmonious communities that cultivate diversity and economic empowerment,” commented Braunschweiger. “Farm workers contribute to the fabric of Ventura County, which adds to our economy’s prosperity. We owe it to these hard-working members of our community to create equitable home options in neighborhoods that provide safe routes to school, easy access to public transportation and healthcare, because where we live, shapes how we live.”

Ventura, CA – Housing Trust Fund Ventura County (Housing Trust Fund VC) proudly welcomed over 85 participants to last week’s Annual Meeting. Held virtually, the meeting highlighted successes including, $10 million in approved loans since 2012 ($2.1 million in 2020), helping to produce 598 affordable homes in socio-diverse neighborhoods throughout Ventura County, and raising $5+ million in local funds for affordable housing. Housing Trust Fund VC emphasized the power of impact investing by leveraging $2.15 million in funded 2020 loans for three new Oxnard developments.

A highlight of the afternoon came from CEO, Linda Braunschweiger who announced a 2020 milestone of $15 million in early funding requests for planned affordable housing developments, with a need for acquisition and construction financing. “These developments include rental housing for the homeless, farm workers, veterans, youth transitioning from foster care, and the majority of the units are expected to help low to extremely low-income families and individuals,” said Braunschweiger. Continuing to provide safe and equitable homes built in richly diverse neighborhoods is made possible in part through the organization’s Revolving Loan Fund. Capital for the fund is raised through donations, grants and Community Impact Notes, which provide a modest financial return to mission-minded investors such as Ventura County corporations and foundations interested in helping to solve the affordable housing crisis.

Supporting the notion of community impact investing, keynote speaker Michael Anderson delivered a compelling presentation focused on the significant impact of trust funds, “We think about not just the number of apartments and homes, but all of the different families that have benefitted in them, and the generations that will benefit going forward.” Anderson provided a big picture idea of the expanse each investment makes, “The impact that you’re making is definite and part of this larger story of trust funds across the country, where this movement continues to grow, even in difficult economic times.”

Braunschweiger closed the meeting highlighting a new development, funded in part by Housing Trust Fund VC, Willet Ranch, in Ventura, with a special touch for senior citizens, “When complete this community will offer on-site supportive services such as a community garden and meals, as well as targeted classes attractive for seniors.”
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To view Housing Trust Fund VC’s 2020 Annual Report, visit www.housingtrustfundvc.org. To learn more about the Everyone Deserves a Home Revolving Loan Fund Community Impact Note, visit www.housingtrustfundvc.org/cin.

Ventura County, CA – Housing Trust Fund Ventura County announced this week that it applied for California Proposition 1 matching funds from the CA Department of Housing and Community Development (HCD), the agency responsible for fund disbursement. Housing Trust Fund VC has raised $5 million locally with the goal of bringing $10 million to the county for affordable housing developments through the Prop 1 matching grant program.

The Housing Programs and Veterans’ Loans Bond, also known as California’s Proposition 1, is a 1:1 fund matching grant program that provides funding to Housing Trust Funds for the development of rental housing with a focus on low to extremely low-income housing units. It provides up to $5 million per year for five years totaling $25 million, with the potential of doubling to $50 million through local matching funds.

“Locally, our job was to raise $5 million so we could fully leverage Prop 1 during its inaugural year,” said Linda Braunschweiger, CEO of Housing Trust Fund Ventura County. “We did just that. Thanks to wonderful supporters and wise Board leadership we now expect to have $10 million available from the first funding round for increased affordable housing development in Ventura County, which is needed now more than ever.” Braunschweiger refers to the current COVID-19 environment and the resulting high unemployment rate, which has a trickle-down effect of housing becoming increasingly unaffordable for too many. Currently, the nonprofit has a pipeline of projects throughout the county for which developers are requesting $15 million over the next two years.  As a short-term lender, Housing Trust Fund VC plans to utilize Prop 1 grant funds for acquisition and construction lending of affordable workforce housing.

Housing Trust Fund VC successfully raised this round’s $5 million local match through support of sponsors, donors, grants, loan repayments and fundraising events. Most recently Wells Fargo Bank donated $30,000, the County of Ventura confirmed a $300,000 three-year grant, and support continues from all 10 cities. Over $1 million comes from PLHA (Permanent Local Housing Allocation) where $75 of every local real estate transaction goes towards increasing the supply of affordable housing in Ventura County. Other major funding includes the US Department of Treasury CDFI program, HOPE Foundation, McCune Foundation, Lluella Morey Murphy Foundation, Weingart Foundation, Brokaw Nursery, Leavens Ranches, Lloyd-Butler Ranch, City National Bank, Mechanics Bank, Pacific Western Bank, Union Bank, Legado Family Companies, and Sage Publishing. Housing Trust Fund VC raised another $145,000 through two fundraising events, including its unique, completely virtual, weeklong, “Everyone Deserves a Home  Compassion Campaign”(www.housingtrustfundvc.org/compassion-campaign).

“I’m so pleased that our community sees the value in supporting affordable housing,” commented Housing Trust Fund VC Board Chair Jennie Buckingham. “This $10 million will go a long way to creating more workforce housing throughout all of the cities in our County.” Housing Trust Fund VC is looking at 2021 and beyond to ensure that the $5 million Prop 1 funds are matched 100% every year through 2024. To support affordable workforce housing in Ventura County go to, www.housingtrustfundvc.org/donate-now.
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Developers interested in receiving a loan may visit www.housingtrustfundvc.org/funding-programs and review the Program and Loan Underwriting Guidelines.  A list of projects that have received first phase approval are also available on the website at www.housingtrustfundvc.org/housing.