June 1, 2007

Sisters of St. Joseph of Carondelet invest $25K

The Sisters of St. Joseph of Carondelet have approved a $25,000 investment to the San Luis Obispo County Housing Trust Fund.

"We thank the Sisters of St. Joseph for partnering with us to address local housing needs," states HTF executive director Jerry Rioux.  

The investment from the LA-based religious community carries a 3% interest rate and must be repaid in five years.  The HTF will use the funds to finance affordable rental and ownership housing in San Luis Obispo County.

The Sisters of St. Joseph’s investment is the HTF’s fourth from a religious community. In addition, the HTF has received investments from Catholic Healthcare West, Mission Community Bank, Mid-State Bank and Trust and a family foundation. 

The Housing Trust Fund is a nonprofit corporation that was created to increase the supply of affordable housing throughout San Luis Obispo County.  Rather than develop, own or manage housing, the Fund provides financing and technical assistance to help private developers, nonprofit agencies and local governments produce homes that working families, seniors on fixed incomes and persons with disabilities can afford to rent or buy.

Additional information on the Sisters of St. Joseph of Carondelet is available online at http://www.csjla.org/.