The San Luis Obispo County Housing Trust Fund (HTF) was awarded a $1 million grant from the US Treasury. The grant comes from the Treasury’s Capital Magnet Fund (CMF). The HTF was one of only 40 organizations in the nation to receive a CMF award.
“We are overjoyed to receive this award,” exclaims Jerry Rioux, the HTF’s Executive Director. “It is our first CMF grant and our largest award to date from the US Treasury.”
The HTF will combine the CMF award with other funds to provide below market financing for tax credit rental projects in San Luis Obispo County. These projects will provide affordable rental homes for at least 100 families and seniors who earn approximately $50,000 per year and less.
The HTF provides financing and technical assistance to increase the supply of affordable housing throughout San Luis Obispo County. Since making its first loan in 2005, the HTF has provided nearly $20 million in loans to help create or preserve affordable housing. Additional information on the HTF is available online at www.slochtf.org.