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Loan Fund For Construction Of Affordable Housing In Ventura County Gets Multi-Million Dollar Boost

Posted on Thursday, April 26, 2012 12:11am

A fund on the South Coast designed to help make additional affordable housing available has received a multi-million dollar financial boost.

The Ventura County Housing Trust Fund received a two million dollar grant from the State Department of Housing, & Community Development.

Thanks to that money, and contributions from Ventura County, plus some local cities, the fund now has a pool of four million dollars available.

The idea is to use it for loans to developers who want to create affordable housing targeting the homeless, young adults coming out of foster care, farmworkers, and veterans.

Now that the fund has built up enough money to help finance some projects, it will begin accepting its first round of proposals for loans this fall.

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