The Housing Authority of the City of San Buenaventura (HACSB) has received over $65,000 in funds through the U.S. Department of Housing & Urban Development (HUD) to administer HACSB’s Family Self-Sufficiency (FSS) Program. HACSB’s FSS Program is a service provided to residents and participants in Public Housing & Housing Choice Voucher programs to increase their earned income and reduce their dependency on public assistance and rental subsidies.
The FSS program is designed to assist families and individuals become financially independent and welfare free. Participation in the program is voluntary and requires a personal commitment by each individual. In exchange, participants receive case management services and the opportunity to establish an escrow savings account. The FSS escrow account can be established based on increases in the family’s earned income during the term of the FSS contract. The FSS program is 5 years in length and upon successful completion, participants can receive what is in their escrow account and use for any purpose, including debt reduction, educational expenses, or a down payment on a home.
HACSB’s Chief Executive Officer Denise Wise said, “The Housing Authority has been working with our participants to ease reliance on public assistance programs and achieve financial sustainability as families. While it is challenging in the area to make the jump off of public assistance programs, we have dedicated families who are reaching their goals every day.”
The latest graduate to complete their FSS commitment received an escrow check for over $34,000 toward their goal of homeownership. HACSB plans to continue administering this successful program, assisting participants in achieving their financial goals.
The HACSB is the largest residential landlord in the City of Ventura, with 376 public housing units, more than 1,500 Section 8 vouchers, and over 450 non-profit affordable rental units. The agency is actively working to increase the supply of affordable housing and to improve the quality of life for hundreds more of the low-income residents throughout the City of Ventura.