Catholic Healthcare West is investing $250,000 in the revolving loan fund of the San Luis Obispo County Housing Trust Fund, bringing the company’s total investment to $750,000.
“We continue to be proud of our partnership with the San Luis Obispo Housing Trust Fund and appreciate their efforts to make a difference in our community,” according to a statement by Alan Iftiniuk, French Hospital Medical Center president and CEO, and Rick Castro, Arroyo Grande Community Hospital president and CEO.
The Housing Trust Fund, a nonprofit corporation, was created in 2003 to increase the supply of subsidized or below-market-price housing in San Luis Obispo County.
Rather than directly developing, owning or managing housing, the organization provides financing and technical assistance to help private developers, nonprofit agencies and local governments produce and preserve housing that working families, seniors on fixed incomes and persons with disabilities can afford to rent or buy.
CHW’s investment increases the Housing Trust Fund’s revolving loan fund to nearly $4.2 million, according to executive director Jerry Rioux.
Since making its first loan in 2005, the Housing Trust Fund has provided $4.25 million in financing to help create or preserve 180 units of affordable housing in San Luis Obispo County.
Approximately $1.3 million is currently available from the Housing Trust Fund for new loans for subsidized or below-market-price housing projects.
— Bob Cuddy