In this era of limited resources, Housing Trust Funds are able to attract capital from sources not traditionally dedicated to housing. They leverage these funds by combining private resources with foundation and public agency funds to build a revolving loan fund dedicated to expanding affordable and workforce housing. HTF loans often are made early in the development cycle, before traditional funding is available and thus provide financial support necessary to attract other money.
In order to keep our loan funds flowing and be able to consider more potential projects for funding, VCHTF eliminated the NOFA-based application process in favor of an open funding process. Applications are now being received, evaluated and funded year-round, as finances allow, on a first-come basis. All documents can be downloaded from this website!
Goals for 2016 …
• Approve $1.6M in new loans by June in order to capture the full value of our $2M State prop 1C grant.
• Continue to encourage the remaining 4 Ventura County cities to become financial partners with the Housing Trust Fund.
• Develop a permanent source of funding for affordable housing in Ventura County.
• Be designated in the State COIN (Calif. Organization Investment Network) and Federal CDFI (Community Development Financial Institution) opening up greater levels of opportunity.