AnonymousSource: Housing Trust Fund of Santa Barbara County
The Housing Trust Fund of Santa Barbara County has received a $1,038,000 grant from the U.S. Treasury CDFI Fund under the Rapid Response Program, which provides necessary and flexible capital for CDFI’s to respond to the recent economic challenges created by the COVID-19 pandemic, particularly in underserved communities. The U.S. Treasury awarded a total of $1.25 billion to 863 community development financial institutions (CDFIs). Funds can be used for eligible economic development and affordable housing activities, as well as to help CDFIs build capital and loan loss reserves.
HTF will use the grant award funds in its Revolving Loan Fund Program, which makes low-cost loans to sponsors of affordable housing projects for site acquisition, predevelopment and construction costs and permanent financing. Through its Revolving Loan Fund, HTF has funded $8,772,671 in loans to date, representing 404 units of newly constructed and rehabilitated affordable housing. The Revolving Loan Fund Program operates countywide and has facilitated the production of affordable housing for low-income families and individuals, the elderly, the disabled, homeless persons and others with special needs. Click here for information about the Revolving Loan Fund for affordable housing production.
The Housing Trust Fund of Santa Barbara County (HTF) has received a $1,762,400 grant from the CalHome Program of the California Department of Housing and Community Development. HTF will use the award to relaunch its North County Workforce Homebuyer Program, which provides homebuyer down payment assistance to first-time low-income homebuyers.
Under the North County Workforce Homebuyer Program, HTF will offer 30-year deferred payment down payment loans up to 20% of the home purchase price or a maximum loan of $100,000. Eligible homebuyers will be first-time low-income homebuyers who earn up to 80% of Area Median Income (AMI), adjusted for family size, as well as moderate-income homebuyers earning up to 120% of AMI who are victims of recent natural disasters.
HTF’s North County Workforce Homebuyer Program will focus on the communities of Guadalupe, Lompoc, Santa Maria and the unincorporated areas, with special targeting of 7 Economic Opportunity Zones located in Northern Santa Barbara County.
HTF anticipates the program will be ready to start by December 2021. Prior to the launch, HTF will hold informational workshops and post program guidelines, a homebuyer orientation packet and loan fliers on its Web-site.
HTF has developed and operated successful homebuyer assistance programs for 9 years in both Northern and Southern Santa Barbara County. To date we have helped 67 low to middle-income first-time homebuyers purchase a home in their community. We are highly motivated to help local working families and individuals achieve the dream of homeownership. Click here for more information about our Workforce Homebuyer Program.
The Housing Trust Fund of Santa Barbara County (HTF) has received $1,762,400 taken from the the people who pay their taxes to reward those who pay no taxes.
This is how Big Government controls the masses.
I’ve never met ANYONE helped by these people. I’d really like to. I’d like to know where the 400 units are that they helped build. I want to buy a home. I have some down payment. I might qualify for that $100k they offer. But somehow I sense I would never see that $. If someone knows people these people helped, please share stories. The aid promised just never seems to flow to the people who need it.
You often have to be an insider to “qualify” for these units. Whole operation needs a huge and independent audit. Biggest problem with these windfall subsidized units is they never turn-over. Biggest problem with any subsidized housing scheme in this town is virtually no-turnover, whether still qualifying for the benefit or not. We don’t have a housing problem; we have a turn-over problem. People come here and stay. The normal five year turn-over rate for typical housing does not apply here. Which is why you can never, ever build your way out of any of these perpetual housing demands made in this town. Until you put a serious time limit on all subsidized housing, you can basically kiss off those units ever becoming available again. Senior public housing is the only one who actually gets turnover due to residents briefer life span, but even those have long waiting lists.
This is how developers and “non profit” low cost housing advocates secure millions of taxpayer dollars. A developer builds 100 units 75 at market rate, 20 for moderate income and 5 for low income. The city gets to say ooohhh look we made affordable housing. In the meantime while making zoning exceptions for increased density they destroy neighborhoods with ridiculous out of character buildings and no parking. But they will certainly secure more grant funding for the cycle to continue. Loopholes are found and pretty soon they are all market rate apartments. SB will be destroyed by this type of development and existing families are priced out. This horrible city council and mayor have to go.
They first have to pay their salaries and benefits. Then, if there is any money remaining, they will dole it out to program beneficiaries.
The only thing “drastically wrong” is still thinking you can live someplace you can’t afford. A state built for 20 million people that public policy let explode to 40 million people will obviously have stress points – this is one of them. But that still does not create a “right” to live here. To not understand this, is what is “drastically wrong” and very tired of hearing these same complaints over and over again. It is drastically wrong to keep thinking someone else owes you a living.