VENTURA COUNTY — The Ventura County Housing Trust Fund (VCHTF) has announce the issuance of its third Notice of Funding Availability (NOFA) for the development of affordable housing in Ventura County, the organization reported in a media release.
Linda Braunschweiger, chief executive office of the Ventura County Housing Trust Fund, on behalf of the VCHTF Board of Directors, issued a $900,000 NOFA to help finance residential and mixed use developments that include affordable housing units.
Loans from VCHTF may be used for development planning and predevelopment expenses, acquisition/conversion, site development, construction, rehabilitation or to bridge other financing gaps for housing developments that include affordable units. Developments that include units for veterans, homeless individuals and families, youth transitioning from foster care, and farm workers are given priority funding.
“VCHTF is particularly looking to fund farm worker housing units. The Ventura County Fund For Farm Workers, at the Ventura County Community Foundation, has provide a $50,000 grant being matched by the State of California, for the production of farm worker units,” Braunschweiger stated in the release.
“Agriculture is the second largest workforce sector in Ventura County, providing 31,000 jobs with an estimated 20,000 of those workers employed on Ventura County farms. Quality shelter for the people who tend and harvest the crops ties directly to the success of our economy,” said Hugh Ralston, VCCF president and CEO.
Over the last two years, VCHTF received over $1,550,000 in matching funds from local cities and the County, and is poised to raise an additional $450,000 over the next couple of years to leverage a full $2 million. State match bringing the total funds available to the community to $4 million.
“At a time when affordable housing dollars from local, state and federal sources have been cut or reduced, developers of affordable housing are finding it extremely hard to make developments pencil out. VCHF’s reduced rate loans can make the difference in a development moving forward,” Braunschweiger said.
The VCHTF supports housing projects that enhance quality of life and preserve the long-term affordability of housing as a community resource.
“Affordable housing developers are encouraged to visit the VCHTF web site at www.VCHousingTrustFund.com to review Program Guidelines and Underwriting Guidelines,” Braunschweiger said.
VCHTF is an independent 501c3 nonprofit corporation. VCHTF’s mission is to support more housing choices, by generating and leveraging financial resources, working in partnership with the public, private, and non-profit sectors throughout Ventura County. VCHTF is led by a diverse Board of Directors representing private industry, banking, legal, education, affordable housing developers, housing advocates, and local government.
For more information, contact Linda Braunschweiger, CEO, Ventura County Housing Trust Fund, at 805-407-2455 or Mary Ann Kraus, VCHTF Chair, at 805-415-0187.