September 18, 2007

The San Luis Obispo County Housing Trust Fund made a $700,000 loan to the Family Care Network, Inc.  The loan finances the purchase of four apartment units that will provide transitional housing for foster care youth (age 16 to 21).

"We are delighted to help the Family Care Network further its critically important mission," states HTF executive director Jerry Rioux.  

“Our society treats foster children as throw away kids,” explains Rioux.  “When they turn 18, most are thrown onto the streets with no support.  As a result, one-third become homeless within a year of leaving foster care and about one-fourth end up in jail within two years.” 

To counter these grim statistics, the Family Care Network offers transitional housing, counseling and a comprehensive life skills training program for young men and women who are about to leave or have left foster care.  The agency helps them find jobs, maintain their home, shop, cook and budget their money.  It also encourages them to continue their education or job training and set goals for the future.

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 HTF provides financing and technical assistance to help private developers, nonprofit agencies and local governments create homes that working families, seniors on fixed incomes and persons with disabilities can afford to rent or buy.

Funds for the loan to the Family Care Network came from many sources including Catholic Healthcare West and the George Moylan Affordable Housing Fund.