Union Bank’s generous $5,000 grant will support the agency’s Affordable and Workforce Housing Initiatives to expand affordable homeownership and rental housing opportunities in Santa Barbara County’s high cost housing market.
Union Bank annually distributes at least 2 percent of its annual after-tax net profit to charitable organizations, striving to build a charitable contributions program “that positions the Union Bank Foundation as an innovator of partnerships and a grant-maker intent on helping to create and sustain healthy communities.”
HTF helps maintain the socio-economic fabric throughout Santa Barbara County by addressing the fundamental building block of healthy communities – housing that is affordable to local workers and residents. The grant funds will aid in the expansion of our new Workforce Housing Program, which provides down payment loans to assist low-income working families in purchasing a home in the community where they work, as well as the operations of the $4.5 million Revolving Loan Fund that facilities the production, acquisition, and preservation of affordable housing projects for low-income residents.
Affordable housing is the fundamental building block of economically healthy, vibrant, and sustainable communities. Housing that is affordable to local residents is necessary to attract and retain our local workforce, who provides essential community services, and to address the needs of our most vulnerable populations – low-income families, single parents, senior citizens, and people with disabilities. The Housing Trust Fund of Santa Barbara County would like to thank the Union Bank Foundation for their continued support of our mission and goal of expanding affordable housing opportunities for the residents of Santa Barbara County, California.