Non-Profit of the Week: Housing Trust Fund

Nick Cassidy, First Vice President, Resident Director Merrill Lynch Santa Barbara and member of the Bank of America Ventura/Santa Barbara Leadership Team presents Jennifer McGovern, President and CEO of the Housing Trust Fund with a $5,000 grant check.

The Housing Trust Fund (HTF) is a non-profit financing agency whose mission is to expand affordable rental and homeownership housing opportunities throughout Santa Barbara County for working households and our most vulnerable populations. Over the past several years, HTF has funded over $5 million in loans to facilitate the production of 285 units of newly constructed affordable housing and has provided $846,674 in 30-year deferred down payment loans to help 28 first-time low-income homebuyers buy a home.

HTF recently announced they received a $5,000 economic development grant from Bank of America. The bank works with local nonprofits providing services and solutions addressing a range economic development issues from affordable housing and anti-poverty self-sufficiency resources to homeless transition shelters and small business microlending programs.

The Bank of America grant provides key operating support for the Housing Trust Fund’s $6.7 million Revolving Loan Fund for affordable housing production and for expansion of its countywide Workforce Homebuyer Program that provides down payment loans to first-time low-to-middle income homebuyers to help them buy an entry-level home in the community where they work.

“Bank of America has been a strong supporter of the Housing Trust Fund. Their contribution supports our efforts to fund quality affordable housing projects throughout Santa Barbara County and to help local working families purchase their first home and put down roots in the community”, said Jennifer McGovern, President and CEO of the Housing Trust Fund of Santa Barbara County.

HTF is governed by a volunteer Board of Directors comprised of countywide community leaders with expertise in real estate and development, banking, law, business, local government, nonprofits and affordable housing. Current Board members include: