 Dear Friend,April may have been a “taxing” month for all of us, but the bright side of that is realizing the investment of those resources can produce good things, that are most important and critical to meeting our communities’ common concerns and needs. Such is the case for the federal Low Income Housing Tax Credit program. It’s a tried and true system that, although not perfect nor simple, has continuously produced high quality permanently affordable housing to lower-income earning households all across the nation, including here on the Central Coast. Originating from the 1986 Reagan Tax Reform Act, it has had substantive bipartisan support since then, through numerous pendulum power swinging election cycles and shifts. Success has in part been attributed to the public-private partnership nature of the program, that provides affordable housing financing. It starts with a tax credit allocation made available to each state each year, based on their population at a per capita rate. For 2022 that rate is set at an allocation of $2.35 per person.
Once allocated to specific projects, private or corporate investors, who seek to reduce their tax liability in order to retain or reinvest their profits may be interested in exchanging their cash for a tax benefit, which can result through their participation in this program. They can make investments of equity directly to specific and tangible affordable housing projects. Their return on that investment is tax relief over 10 years for an offsetting amount of their investment. Since that is an inexpensive source of financing to the affordable housing project, it means rents can be held at an affordable rate (about 30% of each household’s income) for the life of the property. That is further assured by a recorded property deed restriction to provide affordable rents to lower-income earning residents for a minimum of 55 years. These projects are a win for the investor, a win for the residents, and a win for the whole community by housing our most vulnerable and housing cost burdened, including those unhoused. Additionally, housing construction stimulates the local economy through local job creation and increased spending on construction materials and related local industry services, plus contributes to building new related infrastructure.
If you are a local resident here, be assured that we are working hard every day at People’s to put your annual $2.35 to good use, for financing new affordable homes – directly addressing the affordable housing crisis for those most in need!
Ken Trigueiro, CEO & President |
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Templeton Place II: Applications Available Now!
Templeton Place II is a 36-unit community, currently under construction, which will provide new affordable housing for seniors age 62+ in the beautiful city of Templeton. Ten units will be set aside for homeless veterans and some will receive assistance through a VASH Project Based Voucher from the Housing Authority of San Luis Obispo.Due to be completed in Fall 2022, Templeton Place II will offer studios, one-, and two-bedroom units, which will all come equipped with an oven range, refrigerator, central-heating, and air, as well as an emergency call system monitored by the onsite manager. Amenities will include a furnished community room and open outdoor space to create a relaxed living environment and foster interaction among residents. The property is located adjacent to Twin Cities Hospital and many other nearby services. |
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 Summer Support for Your Student
Our Camino Scholars summer program is enrolling now! Available at sites throughout the Central Coast and free for students of all ages.
Programming includes individualized academic support, art classes, music lessons, local field trips, and opportunities for collaboration and friendship! Contact education@pshhc.org to learn more and enroll today. |
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 Down Payment Assistance
We are excited to be teaming up with the Santa Barbara Housing Trust Fund to help implement the new North Santa Barbara County Workforce Homebuyer Program.Designed to expand homeownership opportunities, this program helps bridge the affordability gap for local employees. It provides 30-year deferred payment loans, up to 20% of the home purchase price, or a maximum loan of $100,000. Funds can be used for down payment and closing costs for households who earn a maximum of 80% of the Area Median Income.
To learn more, visit their website or contact ylounsbury@sbhousingtrustfund.org. |
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 Reducing Utility Costs for ResidentsA ‘Low Income Weatherization Program’ is coming to three PSHH properties in Santa Maria and Guadalupe.
These properties are receiving significant energy efficiency upgrades and new solar installation to offset rising electricity costs. Currently in the permitting process, we look forward to bringing substantially reduced energy bills to our residents! |
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Save the Date: The Builder Games
Let the games begin! This summer, we are launching our new signature fundraiser – The Builder Games!Join us to cheer on your favorite local teams as they build custom playhouses for children. To learn more or to field a team, email events@pshhc.org. |
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 Farmworker Housing: Available Now!
Know any farmworker households looking for affordable housing? Guadalupe Court Apartments in Guadalupe and Canyon Creek Apartments in Paso Robles are accepting applications!Guadalupe Court Apartments is one of PSHH’s newest communities, with 38 beautiful units for farmworkers and their families. The property has an outdoor courtyard, barbecue area, play area, community center, and computer lab.
Canyon Creek Apartments offers 68 permanently affordable ‘California Contemporary’-style apartments in Paso Robles. The site provides a community center, learning center for students, a health screening and counseling room, recreational space and several playgrounds.
Check out these opportunities for farmworker households below: |
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 Join the Team!
PSHH offers an array of dynamic, rewarding opportunities to strengthen your career while making a difference. Check out our open positions! |
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- Assistant Property Manager | Santa Barbara
- Bilingual Property Manager | Santa Maria
- Communications Coordinator | San Luis Obispo
- Compliance Specialist | San Luis Obispo
- Lead Educator | Goleta
- Maintenance Technician I | North County, San Luis Obispo County
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- Maintenance Technician I | North County, Santa Barbara County
- Property Accountant | San Luis Obispo
- Property Manager | Santa Maria
- Roving Substitute Educator | Templeton
- Roving Substitute Educator | Santa Maria
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April Partnerships
Thank you to these incredible partners who have helped support our mission this month:
- NeighborWorks America – $6,000 in general support
- City of Arroyo Grande – $2,000 for the Supportive Housing Program
- Bank of the Sierra – $5,000 for Camino Scholars in Northern San Luis Obispo County
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