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PRESS RELEASE / ANNOUNCEMENTS Monday, December 5, 2011

Housing Trust Fund Receives Bank of America Grant for Pilot Homebuyer Assistance Program

The Bank of American Charitable Foundation has awarded a $5,000 grant to the Housing Trust Fund of Santa Barbara County (HTF) for support of the agency’s pilot First-Time Homebuyer Down Payment Loan Program.


The goal of the Bank of America Foundation is to build “strong, healthy neighborhoods where all of us can live, work and dream by investing in innovative programs designed to serve local community needs.”

HTF will use the award to move forward with accomplishing its multi-year goals of initiating a new $840,000 workforce First-Time Homebuyer Down Payment Loan Program as well as funding projects that expand affordable rental housing in Santa Barbara County’s diverse communities. The Bank of America grant will empower HTF to build its capacity as an innovative non-profit financing initiative for affordable housing in Santa Barbara County.

The Housing Trust Fund of Santa Barbara County is a nonprofit countywide financing agency whose mission is to raise financial resources to expand workforce and affordable housing opportunities for the residents of Santa Barbara County. HTF currently operates a $4.4 million Revolving Loan Fund that provides seed capital to facilitate affordable housing production for low-to-moderate income workers and residents. In 2012 HTF will implement a new First-Time Homebuyer Program that will provide 30-year deferred payment loans up to $42,000 to assist working families in purchasing a home in the community where they work. HTF supports projects that enhance the quality of neighborhoods and the sense of community and that preserve the long-term affordability of the housing for future generations of workers and residents. For more information about the Housing Trust Fund, contact Jennifer McGovern at (805) 685-1949, email: j.mcgovern@sbhousingtrust.org or visit our Web-site at: www.sbhousingtrust.org

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