VC Housing Trust Fund Launches!
Mar 30 at 8:50am - emily
The
concept of a Housing Trust Fund was introduced at our First Ventura
County Housing Conference in 2001, as one of the "tools" in the
"toolbox" of potential solutions to the deficiency of housing that is
affordable. In 2006, the Ventura County Housing Trust Fund (VCHTF) began
as a subcommittee of Housing Opportunities Made Easier (HOME); in 2011
the VCHTF incorporated, formalized its own Board of Directors, and in
March 2012 was approved by the IRS as an independent nonprofit 501(c)(3)
organization.
Over
the last two years, VCHTF has raised over $1,100,000 in operating and
lending capital from the County of Ventura, City's of Camarillo,
Moorpark, Santa Paula, Thousand Oaks, and Ventura. In addition, VCHTF
has raised funds from financial institutions, for profit and nonprofit
developers, private industry and foundations.
In
2006, the residents of California approved Proposition 1C, also known
as the Housing and Emergency Shelter Trust Fund Act, to provide more
housing for needy families, homeless, military veterans, transitional
aged foster youth and farm workers. The VCHTF has submitted its
application to the California Department of Housing & Community
Development for a one-time opportunity to receive matching funds
allocated under Proposition 1C for newly formed Housing Trust Funds.
VCHTF has requested $2,000,000 in Proposition 1C matching funds which
will be combined with other public and private funds to be leveraged to
the maximum benefit of these scarce resources.
In
third quarter of 2012, VCHTF expects to issue its first Notice of
Funding Availability (NOFA) from its Revolving Loan Fund to finance
affordable housing throughout the County.
The
VCHTF Board of Directors welcomes you to join them on June 6, 2012, at
5:30 pm, at the Tower Club to celebrate the launch of this critical new
funding source for affordable housing. For more information, please
contact VCHTF at 805-407-2455.
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