February 28, 2006

CHW to Invest in the Fund

Catholic Healthcare West (CHW), which purchased French Hospital and Arroyo Grande Community Hospital last year, is making another investment in San Luis Obispo County.  The San Francisco-based health system will provide $500,000 to help capitalize the San Housing Trust Fund's revolving loan fund.

CHW's investment is in the form of a five-year low interest loan.  CHW has a long history of making similar community investments where its hospitals are located.  Since 1992, they have invested more than $69 million for affordable housing, child care centers, community clinics and other community efforts.

CHW's investment is the sixth direct investment in the Housing Trust Fund's revolving loan fund.  With this investment, the HTF has nearly $4 million in private lending capital to finance affordable housing in San Luis Obispo County.  Funds from CHW may be used to finance affordable housing for very low and low income households. The funds may be used for rental or ownership housing, including transitional housing for households with special needs.

Additional information on CHW's support for local communities is available online at www.chwhealth.org/stellent/websites/get_page_cache.asp?nodeId=5005455.

A March 1, 2006 article from The Tribune that reports on recent investments in the HTF can be read by clicking here.