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Housing Trust Fund Receives $10,000 Grant from Union Bank

The Housing Trust Fund of Santa Barbara County has received a generous $10,000 grant from the Union Bank Foundation to support the nonprofit agency’s Workforce Homebuyer Program and affordable housing initiatives.

"Union Bank has been a strong and consistent supporter of the Housing Trust Fund,” HTF President/CEO Jennifer McGovern said. “We are deeply grateful for their generosity and support.  Their investment in our mission and activities enables us to expand affordable and workforce housing opportunities throughout Santa Barbara County."

HTF will use a portion of the funds to expand its successful Workforce Homebuyer Program. The program provides 30-year deferred payment loans of up to $42,000 to first-time homebuyers who live and work within Santa Barbara County. In the recently completed fiscal year, HTF directly funded 13 workforce homebuyer loans in North County to assist low-income working families in purchasing an entry-level home in the community.

Funds will also be used to support HTF’s long-standing Revolving Loan Fund for Affordable Housing. The $5.6 million Revolving Loan Fund is operated in partnership with community lenders to fund affordable housing projects that serve very low-to-moderate income residents.

Since 1953, the Union Bank Foundation has been supporting nonprofit organizations that create and sustain healthy communities that target low- to moderate-income populations. HTF is proud to have Union Bank as a longtime supporter of its affordable and workforce housing initiatives.

The Housing Trust Fund is a countywide nonprofit financing agency that works in collaboration with the private, public and nonprofit sectors to raise capital resources to expand affordable housing opportunities within Santa Barbara County.

For more information about the Housing Trust Fund, please contact McGovern at 805.685.1949 or [email protected]. Additional information about the agency is available on the HTF website by clicking here.

— Erica Mesker is a development and communications assistant for the Housing Trust Fund of Santa Barbara County.

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