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The Fund wishes to thank our
many
Supporters
Since incorporating February 27, 2003, the
Fund has received more than $1.2 million in grants, contributions and
in-kind support from many different sources, including the County of San
Luis Obispo and every city in the county. While this support is primarily used for our
operations, some funds were deposited in the
George Moylan Affordable Housing Fund at the donors' request.
The Fund has also raised
more than $4.3 million in private lending capital to finance affordable
housing projects. Our initial lending capital came from Mission
Community Bank and Mid-State Bank & Trust
(now Rabobank)
in the form of $1 million Equity Equivalent or EQ2 investments.
First Bank of San Luis Obispo committed to provide $1 million for our
borrowers. Additional information is available online at
Sources of
Lending Capital.
Two of our earliest
financial supporters, the County of San Luis Obispo and Mission
Community Bank, are also among our most generous. The County
provided two multi-year matching grant totaling $425,000, which covered half of our
start-up and early operating costs. In addition to providing
contributions and an investment, Mission's management and staff have
provided tens of thousands of dollars worth in-kind support to the Fund.
In addition to the direct financial support
that we received from so many local groups, we want to note that we also
received more than $200,000 in in-kind contributions from individuals and
businesses since 2003. This in-kind support has been
invaluable to our organization.
Thank you all for your support. |
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Private Sector Support1
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Operating Support |
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Economic Opportunity Comm. |
$50,000 |
|
Bank of America |
$50,000 |
|
Union Bank of California |
$35,000 |
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Rabobank (formerly Mid-State Bank &
Trust)2 |
$10,550 |
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United Way of SLO County |
$11,913 |
|
Washington Mutual Bank |
$10,000 |
|
SLO Co. Community Foundation |
$8,200 |
|
Downey Savings |
$7,000 |
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Los Padres Bank |
$3,350 |
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Resident Owned Parks |
$2,500 |
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First Bank of SLO3 |
$2,150 |
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Mission Community Bank4 |
$1,550 |
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Heritage Oaks Bank5 |
$1,350 |
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The Mortgage House, Inc. |
$1,200 |
|
Others |
$8,383 |
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Total Private Operating Support |
$203,146 |
Loan Fund
Contributions
|
Realtor Fund6 |
$100,000 |
|
Moylan Fund7 |
$76,000 |
|
Total
Loan Fund
Support |
$176,000 |
Total Private Support
|
Total Private Sector Support |
$379,146 |
|
Government Support1
| County of
San Luis Obispo |
$425,200 |
|
City of San Luis Obispo |
$120,200 |
|
City of Atascadero |
$28,000 |
|
Housing Authority of SLO |
$20,000 |
|
City of Pismo Beach |
$20,000 |
|
City of Arroyo Grande |
$20,000 |
|
City of Grover Beach |
$20,000 |
|
City of Paso Robles |
$12,500 |
|
City of Morro Bay |
$3,000 |
|
Total Government
Support |
$668,900 |
In-Kind Support1
| Total In-Kind Support |
$200,000+ |
Total Support1
| Total Support |
$1.2+ million |
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1
Government and Private Sector Support include contributions received or
pledged through April 21, 2008. In-kind Support is through
December 31, 2007. In-kind Support is calculated and updated
quarterly.
2
Rabobank (formerly
Mid-State Bank &
Trust) has also provided $10,000 in grants to the Moylan Fund, a $1 million revolving line of credit and a
$100,000 CDFI Tax Credit investment from which we fund loans.
3
First Bank has also
committed a $1 million guidance line of credit with which it will
finance projects identified by the Fund.
4
Mission Community Bank has also provided $10,000 in grants to the Moylan
Fund and a $1 million revolving line of credit from which we fund loans.
5
Heritage Oaks Bank has also provided $6,000 in grants to the Moylan
Fund.
6 Grant
from the California Association of Realtors Housing Affordability Fund.
7
Grants and contributions to the George Moylan Affordable Housing Fund.
Click here for a complete list
of contributors to the George Moylan Affordable Housing Fund.
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