PRESS RELEASE / ANNOUNCEMENTS Originally published 2:22 p.m., September 22, 2012 Updated 2:22 p.m., September 22, 2012

$5,000 Rabobank Community Development Grant

The Housing Trust Fund of Santa Barbara County has received a $5,000 Rabobank Community Development Grant to support the agency’s affordable housing initiatives.

HTF President/CEO, Jennifer McGovern, receives a grant award from Rabobank Vice President of Community Development, Frank Bravo.
Click to enlarge photo

HTF President/CEO, Jennifer McGovern, receives a grant award from Rabobank Vice President of Community Development, Frank Bravo.

HTF is a non-profit financing initiative whose mission is to expand affordable housing opportunities for the residents of Santa Barbara County by addressing the fundamental building block of healthy communities - housing that is affordable to local workers and residents. The grant will provide community outreach and operational support for HTF as it expands its Workforce Housing Program and Revolving Loan Fund for affordable housing.

HTF’s new Workforce Housing Program helps bridge the homeowner affordability gap for low- to middle-income households by providing 30-year deferred payment down-payment loans of up to $42,000 per household.

HTF’s core program is a countywide $4.5 million Revolving Loan Fund for Affordable Housing operated in partnership with community lenders, including Rabobank. The loan fund is designed to expand the production, preservation, and rehabilitation of affordable housing for very low-to-moderate income workers and residents by providing short-term, below-market interest rate loans to qualified sponsors of affordable housing. The projects HTF funds serve a variety of populations, including working families, single parents, local employees, farm workers, senior citizens, disabled persons, homeless individuals, and other persons with special needs.

HTF would like to thank Rabobank for its commitment to, and continuous support of, HTF’s affordable housing initiatives. Rabobank has drawn upon its century-old heritage of community banking by contributing the financial and organizational resources that help to make the local communities they serve great places to live and work.

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