KCLU 88.3FM - 102.3FM - 1340AM

Listen Now Science Friday 1:00am - 3:00am

Fund In Ventura County To Help Build Affordable Housing Awards First Loans

Posted on Wednesday, April 24, 2013 12:52am


A non profit agency established to help build affordable housing in Ventura County has made its very first loans for new projects.

The Ventura County Housing Trust Fund awarded $750,000 in financing for three projects.

$300,000 will go towards construction of the Citrus Grove project, a six unit development for low income seniors in Santa Paula. $250,000 will go to the San Buenaventura Housing Authority, for the purchase, and conversion of existing housing units to affordable housing. And, the San Buenaventura agency will get a $200,000 loan for pre-development costs for the Castillo del Sol Apartments, a proposed 40 unit affordable housing complex in Ventura.

The Trust fund is intended to provide a pool of loan money for affordable housing in the county. As loans are repaid, the agency will continue to fund projects which make more affordable housing available.


KCLU Local News

KCLU Featured Stories