The Housing Trust Fund will use the award to move forward with accomplishing the goal of initiating a pilot $840,000 Workforce Homebuyer Program that provides 30-year deferred payment down payment loans up to $42,000 to help local working families in North County purchase a home in the community where they work. HTF will initiate a second program within the City of Carpinteria in August 2012. The Santa Barbara Bank & Trust grant will empower HTF to build its capacity as an innovative nonprofit financing initiative for affordable workforce housing in Santa Barbara County.
HTF also operates a $4.5 million Revolving Loan Fund that provides seed capital to facilitate affordable rental and homeownership housing production for low-to-moderate income workers and residents in Santa Barbara County’s diverse communities. 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 over 50 years, Santa Barbara Bank & Trust has been committed to funding groups such as HTF, who work to enhance the economic vitality and social welfare of the local community (https://sbbt.com/personal-home.php). 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 helps maintain the socio-economic fabric of Santa Barbara County by addressing the fundamental building block of healthy communities–housing that is affordable to local workers and residents. For more information about the Housing Trust Fund, click here or contact Jennifer McGovern at 805.685.1949 or j.mcgovern@sbhousingtrust.org.
— Jennifer McGovern is the president/CEO of the Housing Trust Fund of Santa Barbara County.