The Housing Trust Fund of Santa Barbara—a nonprofit financing agency that works to increase affordable housing opportunities countywide—announced this week that it was awarded a grant of $500,000 from the U.S. Department of Treasury. The agency was one of only 25 such institutions nationwide to receive the award, said officials. The money will reportedly go toward augmenting the trust’s $3.6 million Revolving Loan fund which, explained a spokesperson, “provides low-cost loans to community sponsors of affordable housing for site acquisition and project predevelopment and construction costs.”
