April 1, 2011

Sachs Foundation renews $200,000 investment

The Erich & Hannah Sachs Foundation has renewed its $200,000 investment in the Housing Trust Fund.  The Foundation initially loaned $200,000 to the HTF in 2006.  They have renewed the investment at a 3% interest rate for five more years.  The funds will be used to provide financing for affordable housing projects in San Luis Obispo County.

The HTF currently has nearly $6.3 million in revolving loan funds.  The majority of this amount - nearly $3.5 million - comes from 14 private investments.  The HTF also has more than $2.7 million in grant and donations that are dedicated for lending.

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