Housing Trust Fund VC receives $1,250,000 in community investments to its revolving loan fund in support of affordable housing

​Housing Trust Fund Ventura County (Housing Trust Fund VC) has received $1,250,000 in community investments from City National Bank and the McCune Foundation for its Everyone Deserves a Home Revolving Loan Fund. These Community Impact Note (CIN) investments represent the continued support of local organizations focused on solving affordable housing in Ventura County. City National Bank has renewed its CIN at $1,000,000, and the McCune Foundation has renewed at $250,000. Both investments come as five-year renewals. The funds will allow the Everyone Deserves a Home Revolving Loan Fund to provide below-market interest rate loans for developers of affordable housing in Ventura County.

“City National Bank and the McCune Foundation are forward-thinking leaders in our community, and we could not sustain the work we do without their support, year after year,” said Housing Trust Fund Ventura County CEO Linda Braunschweiger. “Great investment partners are essential as we continue on the road to providing affordable housing for all.” Housing Trust Fund’s Community Impact Note provides a modest financial return for investors who in turn are helping to solve the affordable housing crisis in Ventura County, which was recently reported as the least affordable metropolitan area to live within the United States.

In 2014, the McCune Foundation became the first foundation investor in Housing Trust Fund’s Community Impact Note (CIN) with an initial investment of $100,000. This was also the first investment into affordable housing by the foundation and provided returns comparable to stock market bonds. The investment was then renewed in 2019 at $150,000, before this most recent, second renewal at $250,000. City National Bank is maintaining its initial $1,000,000 investment with this five-year renewal.
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Housing Trust Fund’s Everyone Deserves a Home Revolving Loan Fund is a resource for developers early in the development process to secure flexible, below-market interest rate loans to create more affordable housing for Ventura County. Housing Trust Fund VC’s Community Impact Note enables investors, both public and private, to support the revolving loan fund while ensuring a modest return on their investments. Community Impact Note investments start at $100,000 to $2 million, yielding on average up to 3%. With increased interest rates it is more important than ever for Housing Trust Fund VC to receive CINs at below-market interest rates.