Funding will support the development of affordable housing developments.
By Ventura Breeze Staff –
Housing Trust Fund Ventura County (Housing Trust Fund VC) has been awarded five million dollars from the Southern California Association of Governments (SCAG) as part of the Regional Early Action Plan (REAP 2.0). The funding will support the development of the Housing Trust Fund Ventura County’s Revolving Long-Term Loan Program for Infill Affordable Housing Developments. This program will establish a long-term loan program and will increase the non-profit’s lending capacities by offering residual receipts loans that will extend 15-18 years. The grant includes five hundred thousand dollars for Housing Land Trust Ventura County (Housing Land Trust VC) to create policies and procedures and to support marketing, legal, and community outreach. Additionally, grants totaling one hundred fifty thousand dollars have been received from U.S. Bank, Mechanics Bank, and First Citizens Bank.
“With SCAG’s support, we can now offer long-term financing tools that truly meet the needs of affordable housing developers. These new loans will allow us to increase the depth and duration of our impact – unlocking more units, in more neighborhoods, for longer,” says Housing Trust Fund VC CEO Linda Braunschweiger. “This is about creating housing that stays affordable for generations.”
“We are proud to support Housing Trust Fund Ventura County as they expand innovative financing strategies aligned with the goals of REAP 2.0,” said Kome Ajise, Executive Director of SCAG. “This program exemplifies the kind of lasting, community-rooted investment we envision, that accelerates housing production to benefit everyone in the region. Partnerships like this move Southern California forward.”
First Citizens Bank has awarded Housing Trust Fund VC a twenty-thousand-dollar grant as part of their Community Benefits Plan, a 5-year plan focused on lending to and investing in low-and moderate-income communities and neighborhoods of color. Mechanics Bank has awarded a thirty-thousand-dollar Operational Grant to Housing Trust Fund VC for operations and to support the Long-Term Loan Program for Infill Affordable Housing Developments. U.S. Bank has awarded 2 Community Possible HOME grants worth fifty thousand dollars each to both Housing Trust Fund VC and Housing Land Trust VC. Combined, the grants totaled one hundred fifty thousand dollars and will support the organizations with operations as they continue their commitments to help increase affordable housing options throughout Ventura County.
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6th Annual Compassion Campaign RAISE the ROOF – Together We Invest
This year’s Compassion Campaign invites guests to discuss leveraging funds to maximize impact and stand together to create affordable homes in Ventura County.
This event will feature a conversation with Giorgio Angelini and Dr. John Nunes to discuss the multi-faceted need for affordable housing and how they were each called to drive change in their communities. Joining them will be a current Ventura County resident, whose lived experience with affordable housing will ground the discussion in the real-life impact and urgency of the housing crisis.
Event Information:
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Why attend?
- Connect with fellow housing advocates under the stars
- Enjoy a delicious dinner with wine, beer, and other beverages
- Hear from inspiring speakers
- Participate in engaging audience-immersive activities
- Vote for your favorite lending library challenger to take home the “Paint It Forward” crown
www.housingtrustfundvc.org/cc2025.html
