October 2, 2009
US Treasury awards $500,000

The Community Development Financial Institutions (CDFI) Fund of the US Treasury has awarded a $500,000 grant to the San Luis Obispo County Housing Trust Fund (HTF).

The award to the HTF was one of 62 grants totaling $53 million that was announced on October 2, 2009. The CDFI Fund received 452 applications from organizations across the nation requesting more than $529 million in funding under their FY 2009 round. Additional information on the awards and the CDFI Fund is available online at www.cdfifund.gov/news_events/CDFI-2009-54-CDFI-Program-Awards.asp.

The CDFI Fund helps underserved communities access capital and financial tools to stimulate local economic development. In its fifteen year history, the CDFI Fund has provided over $22 billion in loans, grants and tax credits to support community and economic development ventures throughout the nation.

The HTF will use the CDFI Fund’s grant to provide financing for affordable housing projects located in San Luis Obispo County. The grant increases the HTF’s loan fund equity from $200,000 to $700,000. The HTF also has more than $3 million in social investments in its loan funds. These funds were provided by thirteen investors including Mission Community Bank, Rabobank and Catholic Healthcare West.
 

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