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Even with the challenges of the pandemic, students at our learning centers are working hard and excelling! Recent reporting from our educators have shown that 3rd graders participating in our Camino Scholars program are doing 35% better in reading and 48% better in math, compared to their peers!
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 Dear Friend,
There are some new funding opportunities that lay ahead of us at People’s, that are starting in 2021, including at the federal level, that are important to our communities and positioned to potentially provide more project funding locally. One is an enhancement of the Low Income Housing Tax Credit program. Legislators recently improved the program by “fixing” the rate of the 4% tax credit program. The program has been around since 1986, born out of the Reagan Tax Reform Act of the same year, and has had great success in financing the bulk of good quality affordable housing since then. That long running success comes from maintaining a consistently firm base of bipartisan support for it’s private-public partnership approach, and a great track record of long term well performing properties that it has financed for development. In essence, the federal program allocates a number of tax credits to every state annually, which then each state has a plan for allocating for incenting affordable housing development. Until this recent change by federal legislators, the program generated less than 4%, and by industry experts’ estimates, this change can provide a good boost more financing to the program.We at People’s compete for allocations of tax credits for projects, to bring that investment into our communities, ultimately benefitting the local wage-earning workforce and lower income earning residents, including aging seniors on fixed incomes, living and working in the local jurisdictions we serve. Once awarded to us, we then “sell” those tax credits to institutional investors who in exchange provide equity directly to our new construction apartment projects and who accept as their return the tax relief, which enables them to then invest their corporate profits back into building up their business. Since the new property will not have a high burden to pay a return to investor, and the substantial equity contribution means the property also will not bear a heavy debt burden – the rents can be set at a restricted low level, below market, and calibrated to be permanently affordable to residents at around 30% of their below median income. It’s a win for the investor, and a win for local employers’ wage earning workforce, and most importantly a win for the residents. It does not provide 100% of the project financing however, therefore we continue to rely on other key partnerships for additional funding layers in each project, including from conventional lenders, and cities’ and counties’ housing programs.
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In honor of Ethel T Uyehara
To recognize the commitment and vision for senior housing, PSHH has installed a new plaque at the Sierra Madre Cottages Community Center commemorating Ethel T Uyehara and the congregation of Bethel Lutheran Church. Take a look at the recent unveiling of the plaque: |
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 Conversation with an Architect
Lauren Luker, of Rea & Luker Architects, has supported People’s Self-Help Housing for many years as the architect for the self-help neighborhoods of Terebinth Lane, TR 2710, and Mission Gardens, as well as the rental properties Creekside Gardens, Villas at Higuera, Belridge Street Apartments, and Rolling Hills II. Lauren shared some thoughts about designing affordable home:What are the challenges of designing affordable homes?
Unlike designing with unlimited space or budget, creating attractive, livable homes within various constraints is challenging. Thoughtful use of space is very important to make the most of each site and home. There can be many regulations to address, sometimes changing as a project evolves. Approvals can be tough to navigate and public opposition to a development can also be one of many obstacles in the process.
Read Full Interview |
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Creating a Legacy
The Legacy Circle recognizes our cherished planned givers. The gifts that will come from their estates, will have a profound, and lasting impact on generations of PSHH residents.Listen to Annette Schlosser, PSHH Director of Administration, discuss her reasons for participating in the Legacy Circle: |
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| If you would like to support our mission in this impactful way, please contact us at giving@pshhc.org. |
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February Partnerships
Thank you to all our incredible partners who have helped support our mission this month:
- Napa Valley Community Foundation – $3,500 in general support
- Merritt Community Capital – $7,080 in support of the Supportive Housing Program
- Community Foundation of San Luis Obispo County – $10,000 in support of the Resident Assistance Fund
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 Rental Relief in Santa Barbara CountyRental and utility assistance funds are now available for Santa Barbara County residents. Upon application approval, eligible renter households will receive three-month rent subsidy, up to $6,000 per household, as well as emergency utility payments. Applicants can re-apply every 3 months up to maximum of 15 months. We encourage you to read through eligibility requirements and apply for funding today. If an eligible household receives a monthly federal subsidy and the tenant rent is adjusted according to changes in income, the renter household may not receive ERA assistance. |
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| During COVID-19 closures, contact us with inquiries at (805) 781-3088 or info@pshhc.org. For property contact information, visit pshhc.org/looking-for-housing. |
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