The Housing Trust Fund of Santa Barbara County has received a $5,000 contribution from Yardi in honor of the late Michael Towbes, local businessman and philanthropist, and to support the agency’s new South Coast Workforce Homebuyer Program.
“Michael Towbes was a champion of workforce housing and was committed to the Housing Trust Fund’s mission to expand workforce housing opportunities,” said Gordon Morrell, executive vice president of Yardi.
“Yardi is pleased to be a ‘seed sponsor’ of HTF’s new South Coast Workforce Homebuyer Program. We hope that our donation in honor of Michael Towbes will inspire other business to contribute to this worthwhile workforce housing program,” he said.
Towbes served on the Housing Trust Fund Board of Directors for 12 years and the agency benefited from his expertise, experience and generosity.
The grant from Yardi, which is based in Goleta, will provide operational support for HTF as it launches the South Coast Workforce Homebuyer Program.
The program will provide low-cost down payment loans up to $100,000 to help first-time working households buy an entry-level home in the community where they work.
For more about the nonprofit Housing Trust Fund, visit https://www.sbhousingtrust.org.
— Jennifer McGovern for Housing Trust Fund of Santa Barbara County.