Sources of Lending CapitalThe San Luis Obispo County Housing Trust Fund has raised more than $6 million in mostly private lending capital from a dozen different sources to finance affordable housing projects in San Luis Obispo County. These funds initially came from local banks. Mission Community Bank and Rabobank each provided $1 million Equity Equivalent or EQ2 investments to the HTF. Rabobank also provided $100,000 under California's CDFI Tax Credit Program. This investment has a 0% interest rate for five years and provided a $20,000 tax credit for the bank (click here for information). We have also received socially responsible investments from Catholic Healthcare West and a number of religious communities. In addition, the Sachs Foundation provided a Program Related Investment (PRI). While our lending capital is initially all borrowed, we have now received more than $2.7 million grants and contributions to our revolving loan funds. We received a $1.5 million grant form the State of California in 2010. The CDFI Fund of the US Treasury awarded $500,000 to us in both 2009 and 2010. The California Association of Realtors has provided $125,000 in grants from its Housing Affordability Fund. In addition, more than 300 individuals, organizations and firms have contributed nearly $80,000 to the George Moylan Affordable Housing Fund. Click here to learn more about the Moylan Fund. Our sources of lending capital - both investments and grants - are summarized in the following tables. |
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* Other
investments have been repaid. |
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(c) 2004-10 San Luis Obispo County Housing Trust Fund - Privacy Policy - This page was last updated on 09/03/2010