Jason Gaffner, from left, Housing Trust Fund VC Deputy Director, Loan Portfolio Manager
Tobie Roach, Housing Trust Fund VC Office Manager, Grant Coordinator
Linda Braunschweiger, Housing Trust Fund VC CEO
Kimberly Tharpe, VP Center Manager
Richard Favor, SVP Regional Manager
Charla Gomez, AVP Portfolio Officer (In front). Courtesy photo.
VENTURA COUNTY — Housing Trust Fund Ventura County is committed to funding the development of safe and equitable homes that make a positive impact in the trajectory of people’s lives. In support of that effort, the nonprofit recently received $18,000 from a combined two operating grants from Citizens Business Bank and the Bank of Sierra and a $500,000 investment from US Bank into its Everyone Deserves a Home Community Impact Note. Funding such as this is pooled with other supportive funding sources to ensure developments like the Rancho Sierra Senior Apartments (Rancho Sierra) are built to foster positive change for individuals and families who face housing insecurity.
Housing Trust Fund VC provided just over $4.4 million in a pre-development construction loan for the development of Rancho Sierra located on unincorporated land near Camarillo. The 49 senior apartments, 24 of which are set aside for homeless individuals or those at risk of becoming homeless, will be built by Many Mansions with support services overseen by the Area Housing Authority of the County of Ventura. Rancho Sierra Senior Apartments is the first affordable development in Ventura County utilizing prefabricated units. With the units factory-built off-site and delivered ready to stand, construction costs are reduced, leading to overall project cost savings as well as a shortened construction period
“100% of the funding for Rancho Sierra was matched by Prop 1’s local fund matching program,” said Linda Braunschweiger, CEO of Housing Trust Fund Ventura County. “We continue to work diligently at Housing Trust Fund VC to receive the highest possible match each year from Prop 1 to bring more affordable homes to our community.” Housing Trust Fund VC has received $9,019,387 to date from the state’s Local Housing Trust Fund (LHTF) program which began in 2020.
Housing Trust Fund Ventura County – Launched as a 501c3 nonprofit corporation in 2011, Housing Trust Fund VC is the local trusted leader in helping to increase affordable housing options throughout Ventura County by leveraging public- private partnerships to provide low-cost, flexible loans early in the housing development cycle. As of June 2022, Housing Trust Fund VC has committed to investing $26 million through its Revolving Loan Fund, creating 1,166 affordable apartments and homes for very-low, low- and middle-income employees, transitional age foster youth, veterans, farm workers, and the homeless.
Rendering of Rancho Sierra Senior Apartments; Citizens Bank Check Presentation with Housing Trust Fund VC. Courtesy image.