VC HOUSING TRUST FUND LAUNCHES!
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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